Lindsey Management eyes site near Arvest Ballpark for new apartments
by September 18, 2018 10:25 am 2,310 views
Fayetteville-based Lindsey Management Co., a third-party property management company, has submitted a preliminary development plan to the city of Springdale for a 476-unit multifamily development near Arvest Ballpark.
According to the document, the 17-building project is tentatively called Trails at Legacy and includes a mixture of one-bedroom (204) and two-bedroom units (272).
The site is just west of the ballpark on approximately 22 acres at the northeast corner of Watkins Avenue and South 64th Street. The land is owned by C.L. George and Sons LP, a partnership made of George’s Inc. chairman Gary George — who’s also chairman of Springdale-based Legacy National Bank — and his sister, Cathy (George) Evans.
Although they share some of the same owners, Lindsey Management is a separate company from Lindsey & Associates, the real estate empire in Fayetteville founded by Jim Lindsey.
Lindsey Management CFO Scott Rogerson said the development is a partnership between the Lindsey and George families, who “have a long-term business and personal relationship.”
Rogerson said the multifamily community will adhere to rules and regulations of the Ballpark/Southwest Springdale Overlay District, approved by the city in 2015. He said the exterior of the units will have a “different look” than other Lindsey projects, with varied roof lines, brick and stone. Almost all of the units will have private balconies, and interior finishes will include granite countertops and stainless steel appliances.
“The current plan is to also offer a limited number of detached garages for parking,” Rogerson said.
Until recently, the area surrounding Arvest Ballpark west of Interstate 49 remained largely undeveloped since 2008 when the ballpark opened. In the past 16 months, Sam’s Club and Arkansas Children’s Northwest have opened on Gene George Boulevard, and there are plans to build a 75,000-square-foot office building north of the hospital. NorthWest Community College in Bentonville has broken ground on a Washington County center on Watkins Avenue, across the street from the Trails at Legacy site.
Rogerson said the area represents “a logical next step for a higher-end apartment complex.” Rent rates are still being determined.