Walton group buys 2,700 acres in Bella Vista; assures community input in future development

Bella Vista’s status as a go-to cycling and mountain biking destination might be overshadowed by Bentonville, its larger neighbor to the south.

That perception may be about to change, kickstarted by a historic land deal that will accelerate the city’s evolution from a retirement haven to cycling and outdoor recreation capital.

Blue Crane, the Bentonville developer, has closed a real estate deal to buy approximately 2,700 acres of undeveloped land from Cooper Communities Inc. of Rogers. Blue Crane announced the transaction on Thursday (May 9). According to a news release, the land is situated throughout Bella Vista in Benton County, with most of it on the city’s west side.

Financial terms were not immediately available.

Blue Crane is the real estate acquisition and development arm of Runway Group, a diversified holding company that invests in real estate, outdoor initiatives, hospitality and businesses. It’s also based in Bentonville and led by Steuart Walton and his younger brother, Tom Walton. They are the grandsons of Walmart founder Sam Walton and the sons of Arvest Bank Group Inc. chairman and CEO Jim Walton.

In the release, Tom Walton, Runway Group’s CEO, acknowledged the land sale’s impact and a commitment to involving the community in future developments.

Those aren’t hollow words. Blue Crane is organizing an event open to the public to answer questions about the deal and the Waltons’ future development plans. It’s scheduled for 9 a.m. on Friday (May 10) at the Bella Vista Country Club.

“We believe deeply in Bella Vista’s tradition of connecting people to nature through cycling, golf and outdoor recreation, and we are confident our investments will reflect that,” he said.

Additionally, Blue Crane has set up a dedicated page on its website to provide information and answer questions regarding the acquisition.

“We will remain true to what Bella Vista is and what Bella Vista was founded on,” Walton said. “Whatever happens in the future, we will not put that element on the sidelines.”

Blue Crane Vice President Farris DeBoard said the acquisition also includes Cooper Communities’ developer’s rights.

“When everything was set up in 1965, certain rights were conveyed to the [Bella Vista Property Owners Association], and certain rights were kept by [Cooper Communities],” he said. “We are obtaining those original developer rights.”

While it will no longer be the developer, Cooper Communities will continue to own and operate commercial and residential investments in Bella Vista.

Municipal and POA operations will not change. That includes maintaining over 100 miles of professionally built multi-use trails through an agreement between the city and the POA.

CYCLING AT THE FOREFRONT
In an interview with the Northwest Arkansas Business Journal, Walton said he believes Bella Vista hasn’t received enough recognition for its place in the region’s growing cycling and mountain biking ecosystem, which attracts visitors worldwide.

The Bella Vista land acquisition — and the development it will lead to — will change that.

“Many people talk about Bentonville as the ‘Mountain Biking Capital of the World,’” he said, referencing the city’s claim and tourism marketing focus. “A lot of trails have been built in Bella Vista. When I’m riding, I spend about half of my time there.

“I would like to shine a light on Bella Vista and Bentonville [together] as the mountain bike capital of the world.”

Last year, Gov. Sarah Sanders appointed Walton to the Natural State Advisory Council to establish Arkansas as an outdoor recreation destination and grow the outdoor economy. Arkansas First Gentleman Bryan Sanders, the group’s chairman, hopes their work will double the state’s outdoor recreation economy from $3.5 billion to $7 billion in the next 10 years.

To that end, Walton said Runway Group’s investment in Bella Vista is driven by the belief that cycling — mountain biking, gravel biking and road cycling — is one of Northwest Arkansas’ differentiators in growing the economy. A University of Arkansas study last year found that the cycling industry generated $159 million in total economic impacts from cycling-related jobs, tourism revenue and taxes in Northwest Arkansas in 2022.

“I would like to think that Bentonville and Bella Vista together can make this a wonderful place for cycling on an even greater national and international stage,” he said. “We’re exploring ways to use the Northwest Arkansas brand to push cycling outward into the world.”

Walton also addressed speculation that future Bella Vista development will include a destination “bike resort” with an escalator-type lift to help cyclists navigate the hilly terrain.  Think Aspen, but for cycling.

“The reality is that those are rumors; we just don’t know,” he said. “Until we have the infrastructure assessment done, which is a huge lift when you look at sewer, water and entitlement issues, we don’t know if that’s something we’re going to pursue.”

BELLA VISTA’S EVOLUTION
The colossal land purchase follows a smaller Bella Vista acquisition earlier this year. Two months ago, Blue Crane closed a separate real estate acquisition for approximately 54 acres in three deals totaling $33.9 million.

Together, the two deals likely signal a new chapter of Bella Vista’s evolution — no longer just a retirement haven but a full-fledged outdoor recreation destination with a younger demographic and a diverse mix of ages.

“It’s evolving, and I think it will continue to evolve,” Walton said.

In the 1920s, Bella Vista emerged as a resort project initiated by C.A. Linebarger Sr. and his brothers around Bella Vista Lake. Later, in 1965, Cooper Communities started developing Bella Vista Village, transforming it into a sprawling recreational retirement haven. Over six decades, Cooper expanded Bella Vista into a vast community of over 50 square miles. It now boasts seven golf courses, seven lakes, more than 100 miles of hiking and biking trails and 39,000 home sites and commercial lots.

It’s Benton County’s third-largest city (pop. 32,000) and the largest by land area.

“It’s one of the great communities in Northwest Arkansas,” Walton said. “Every person who lives there is connected to nature. All you have to do is sit outside your house. That experience is invaluable to a certain percentage of the population.”

WHAT NEXT?
With the deal done, there won’t be much tangible development work or significant changes in the immediate future.

DeBoard, Blue Crane’s vice president, said Runway Group has started a large-scale infrastructure study of Bella Vista, which should conclude later this year.

“Other than Runway Group and Blue Crane being more visible in the community, a lot of [work] this year will be behind the scenes,” DeBoard said.

He said Blue Crane’s strategy of creating “high-quality, community destinations” will be reflected in future Bella Vista projects.

“Our intent is to be good partners in realizing Bella Vista’s legacy as a vibrant place to live, work, and play,” he said.

JT Geren, Runway Group’s director of strategic communications, confirmed that the ownership of the golf courses remains unchanged. The POA owns them.

Bella Vista’s golf courses have been a draw for tourists and residents since the mid-1960s. It is one of the busiest golf hubs in Arkansas, with more than 7,000 active golfers annually. The POA hosts about 140 competitive and social golf groups that play on various days throughout the year.

According to the Encyclopedia of Arkansas, John A. Cooper Sr. began selling lots he had purchased in Bella Vista, promoting his idea of a “graduated retirement,” in which people bought lots that would be paid in full by the time they were ready to retire.

Owners could also purchase “vacation-retirement homes,” building homes for use as vacation sites with the intent to retire in those homes. Whether present or absent, owning a Bella Vista lot meant access to Bella Vista outdoor amenities.

Naturally, that meant building a golf course. Soon, the Bella Vista Country Club course opened, paving the way for various golf courses for the growing number of residents and non-resident property owners.

For their work throughout the state — including Cherokee Village and Hot Springs Village — the Arkansas State Golf Association inducted The John A. Cooper Family into its Hall of Fame in 2013.

“Golf is a great part of the [Bella Vista] story that we want to keep shining a light on,” Tom Walton said. “We are eager to engage with the POA to determine what that looks like.”