New urbanism inspires 272-unit multifamily project in Springdale
by January 23, 2024 8:42 am 3,193 views
Rogers-based ERC Construction Group is partnering with Tradewind Properties, a Texas real estate company, to build a 272-unit multifamily project in Springdale.
The Ramsay will include 18 three-story buildings, which contain 143 one-bedroom units and 129 two-bedroom units. A 1,900-square-foot wellness center is also part of the development plan. Other community amenities include a dog park, private swimming pool and clubhouse.
Fayetteville architect Rob Sharp, who specializes in new urbanism and walkable communities, is leading the design work. According to a news release, the community design is inspired by connected, walkable single-family home neighborhoods.
“The community will feature a variety of building styles in a rich color palette that, when placed together, create a cohesive and memorable neighborhood,” the news release said. “Building facades frame a central street, complete with sidewalks, ornamental plantings, street lamps, on-street parking, shade trees and pocket parks. The distinctive architecture and the carefully designed outdoor experiences will encourage an active lifestyle and offer a sense of community for residents.”
The 14-acre site is at 1415 Oak Grove Road, north of a Walmart Supercenter on Elm Springs Road west of Interstate 49. According to property records, ERC and Tradewind paid $2.1 million for the land in 2022. The purchase price was $3.44 per square foot. Stephanie Pierson, the trustee of the Irven Joint Revocable Trust, was the seller.
The land has been cleared, and the project team is constructing the building pads and installing underground utilities. The first units will be completed this fall.
Pick-It Construction Inc. of Fayetteville is the general contractor. First National Bank of NWA is providing financing. The bank provided the developers with a five-year, $32.4 million loan this past August.
The Ramsay is the fourth project that ERC and Tradewind have partnered on and the tenth ERC project designed by Sharp.
“We continue to be excited for the possibilities of Northwest Arkansas and our partnership with Tradewinds,” ERC Holdings President Rob Coleman said. “Our companies are aligned to the people who will choose to live in the communities we co-create by the quality of the construction, location, and living experience.”
A spokeswoman said apartment sizes range from 646 to 688 square feet (one bedroom) and 948 to 973 square feet (two bedroom).
Lease rates have not been determined.