Missio, Newell partner on 185-unit multifamily project in Bentonville

Missio Capital and Bentonville-based Newell Development will develop a three-story, 185-unit multifamily development at 2804 S.E. John Rollow Drive in Bentonville.

Construction of MidCity Commons is expected to begin in January, with the first units becoming available in 2027.

In August, the city of Bentonville issued four building permits totaling $18.97 million for the development site, adjacent to Northwest Medical Center – Bentonville and about 1 mile south of the new Walmart Home Office.

A 2,000-square-foot commercial space is planned for the development’s north end at Southeast 28th Street and Southeast John Rollow Drive.

Apartments will include a mix of studio, one- and two-bedroom units, ranging from about 500 to 1,000 square feet. Amenities will comprise pool, outdoor grills and seating, pickleball court, dog park, co-working spaces and bicycle storage.

Fayetteville-based Rausch Companies and Texas-based Crowe Capital announced in May that they established Missio Capital with a $100 million equity commitment from John Rausch, chairman and CEO of Rausch Companies.

“Investing in Northwest Arkansas is not just a personal priority; it’s a sound economic decision,” Rausch said. “This region’s growth, workforce demand, and long-term vitality make it an ideal place to deploy capital. MidCity Commons will help meet the area’s growing housing needs while supporting the exciting economic momentum in our community.”

Nelson Crowe is managing partner of Missio Capital, which will serve as the venture’s managing member, leading all construction and development efforts in partnership with Newell Development. Missio also took part in project design, construction budgeting, and sourcing the construction loan and equity. Searcy-based First Security Bank provided a five-year loan of $30.05 million.

Missio sourced the development opportunity through a broker relationship with Colliers Arkansas and its Northwest Arkansas director of capital markets, Pat Dickinson.

A Missio affiliate recently paid $1 million for the property. Jonesboro-based Woodard Seed Farm was the seller.