Construction set for new student housing in Fayetteville
by July 11, 2024 11:29 am 500 views
Tim Whitten, a general contractor in Russellville, said construction on a highly anticipated 246-unit, 658-bed student housing project in Fayetteville is about to begin. Whitten is one of three principal owners leading the development of the project known as Axis.
In a recent interview, he said the projected time frame to complete the three-building development is late spring of 2026.
“We’ll probably start pre-leasing at the end of 2025, but we have to get it open on time,” Whitten said. “It’s all students, so we have to have it ready by the fall [of 2026].”
Whitten said the project’s appraised value is $110 million.
“It’s an upper-scale student housing project,” said Whitten, who also built The Bend on Promenade luxury apartment development in Rogers. “It’s not a typical ‘throw-it-up’ building. It’s nice.”
The project site is west of Interstate 49 along Futrall Drive south of Cross Church. WEBR Investment LLC, managed by Whitten, paid Pam Angus LP, an affiliate of Marinoni Inc., $5 million for the property, 13.78 acres, earlier this year.
Whitten’s business partners for the project are Springfield, Mo., developers Jeff Boyce and Steve Ehrhardt.
Whitten Construction Management is the builder, Fort Smith-based Chassen Garrett Architects, which also has a Bentonville office, is the design firm and Crafton Tull in Rogers is the civil engineer. Sterling Bank of Missouri is financing construction.