Luxury Apartments Coming to Fayetteville

Paul Myer of Myer Multifamily Development Co. in Dallas plans on putting in a $16.5 million apartment complex that he said will be the “nicest apartment community Arkansas has ever seen.”

The former University of Arkansas graduate (1982) hopes to have the 240-unit — 32 buildings — Myers Ranch complex built in a controlled access, gated community. The proposed site for the project, which will also include some upper end offices, will be on a 45-acre site on Arkansas Highway 112 across the road from the 112 Drive-In Theater. The property borders vineyards. The apartment complex will use 20 acres.

Myer plans on the heavily-landscaped complex to have a white, three-tiered ranch railing fence bordering the property. The buildings will have a luxury house look from the roads. They will range from one bedroom ($650 per month) to three bedroom ($1,295). The one and two bedroom units will include a one-car, direct access garage. The three bedroom units will have a two-car garage. Some of the units will have a gas-log fireplaces.

Most units will have full building-length decks. Other amenities include a lagoon-style pool, fitness center, barbecue grills, courtyards, patios, gas lamps, crown molding, ceramic or wood flooring, extensive closet and storage space, nine-foot ceilings, an island in the kitchen and a study area.

About 17 acres of the property will be sold for office buildings. And the remaining eight acres will be a park.

Myer is taking the project to the planning and zoning commission this month. If all goes well, Myers hopes to begin construction this summer.

Myer said the apartments will be catered to “middle and upper income professionals, executives, professors, business managers, empty nesters and lifestyle renters.”

Ben Israel Awaiting Permits to Begin Commerce Park

Ben Israel of Joyce Street LLC on Dec. 28 secured an $8.78 million loan from Community Bank of North Arkansas in Fayetteville to build four office buildings at Commerce Park near Paradise Valley Athletic Club.

The buildings, totaling 70,000 SF, will be on six acres on the southwest corner of Old Missouri Road and Joyce Boulevard. The site will be just west of the athletic club and just east of Butterfield Trail Village.

Israel purchased the land with a $1.2 million loan from Community Bank on Nov. 9. Two of the buildings at Commerce Park will be two-level structures. Hometown Financial will lease 5,500 SF. Israel also has two medical clinics and a government agency committed to leasing about 12,000 SF each. He is awaiting permits to begin construction.

About 400 feet of the Commerce Park property will front Joyce, while another 400 feet will front Old Missouri.

Barrington Centre I Attracts Big-Name Tenants

Cooper Realty Investments already has two commitments to lease space at a four-story office building in Rogers that should be completed by spring 2002.

The project is estimated to cost $7.4 million.

Barrington Centre I will have 64,000 SF and will be at Olive Street and Interstate 540, adjacent to Scottsdale Center.

Nabholz Construction Corp. is the general contractor for the project.

Crafton-Tull & Associates, an architectural and engineering firm, will occupy one floor of Barrington Centre I. Harris McHaney Shearin Realtors will also lease a floor.

The office building will have a state-of-the-art fiber optics and telecommunications infrastructure.

Dee Ann Gilgen, general manager for Cooper Realty Investments, will handle day-to-day operations at Barrington Centre. The leasing agent will be Pat Morrison of Harris McHaney.

Allen Canning Increasing Size of Local Warehouse

Allen Canning Co. of Siloam Springs is adding 118,000 SF to its Springdale warehouse at a cost of about $2 million.

The warehouse, at 705 N. Thompson, is 100,000 SF. The addition is expected to be completed by March.

Springdale has two Allen Canning warehouses. The other is at 206 E. Center Ave.

Allen Canning has warehouses in Turkey, N.C., and in Springdale, Siloam Springs and Van Buren. The company, founded in 1922, cans spinach, beans, greens, peas, bell peppers, yams and potatoes.

Riggins to Add Homes at Lowell Development

Darin Riggins of Riggins Construction and Riggins Properties recently purchased 10 building permits totaling $762,174 for more homes in Lowell’s Southfork subdivision.

The homes, about 1,200 SF each, are in Phase III of Southfork at 516, 518, 520, 522, 523, 524, 525, 601, 603 and 725 Crystal St.

Easterling Building Springdale Homes

John Easterling recently purchased eight building permits totaling $646,886 for new homes in a Springdale subdivision.

The homes will be in Apple Orchards off U.S. Highway 412 East, at 2559, 2581, 2609, 2627, 2638, 2645, 2661 and 2677 Appleglen St.

Legend Builders Plans Fayetteville Homes

Legend Builders Inc. of Springdale on Jan. 9 purchased a pair of building permits totaling $519,300 to build two new Fayetteville homes.

One house will be 3,857 SF and will be at 1185 N. Amberwood Lane. The other will be 3,855 SF and will be at 1233 N. Amberwood Lane.

ARC Construction Adding to Centerpoint Subdivision

ARC Construction and Development Inc. on Jan. 4 got eight more loans totaling $514,000 from the Bank of Arkansas to build additional homes at the Centerpoint subdivision.

The subdivision, which is expected to eventually have 300 homes, is three miles west of Bentonville. About 100 homes are already occupied.

The homes range from 1,100-1,500 SF and are priced from $69,000-$90,000.

Saddlewood Adding Homes at Lowell Subdivision

Tim Graham of Saddlewood Development Inc. recently purchased five building permits totaling $505,774 for homes in a Lowell subdivision.

The houses will be at at 512, 514, 517, 519 and 521 Crystal St., in Phase III of the Southfork subdivision in southeast Lowell.

Phase III has 224 lots in all. The homes are about 1,200 SF.