Crowne Partners Develop Apartments

LEC Properties of Birmingham, Ala., has submitted building permit applications to build a 444-unit apartment complex near the intersection of Razorback Road and 15th Street. The complex will be just north of the Meadow Vale subdivision in Fayetteville.r

The developers, Crowne Fayetteville LLC, also of Birmingham, secured a $15.4 million mortgage in July through SouthTrust Bank in Birmingham to build the 40-acre complex.r

Crowne Fayetteville, of which Alan Z. Engel and Alan D. Levow are members, also bought 40 acres in July from American College Consultants, a Memphis general partnership in which John R. Ellis is a general partner, for $2.5 million. Crowne Fayetteville bought 28 acres in July at the same site from Helen Adams for $675,000.r

Architects Collective of Tulsa is the site architect and engineer, and Jerry Kelso of Crafton Tull & Associates of Rogers is the civil engineer.r

The Crowne Fayetteville project is the first in Arkansas for Engel and Levow. They do business as Crowne Partners of Birmingham and own, manage or have under development about 5,000 multifamily units in nine states.r

The upscale apartments will have one-bedroom units ranging from 779-814 SF, two-bedroom units ranging from 1,148-1,182 SF and three-bedroom units ranging from 1,319-1,352 SF.r

A partial opening of the complex will take place in July 2004 when 270 units will be available. The site eventually will have two clubhouses and resort-size pools, a weight room, laundry facilities, a business center and high-speed Internet access, and the apartments will have detached garages.r

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Lindsey Plans 23 Buildingsr

Jim Lindsey and Ron Stanley of Stearns Street Apartments LP in Fayetteville recently secured a mortgage through Bank of Arkansas for $13 million to build apartments at 1165 E. Joyce St. in Fayetteville. The apartments await approval from the city, but Stanley expects to begin construction by mid-November.r

Lindsey Construction Co. is the general contractor for the 23-acre development that includes 92 one-bedroom units that will range from 545-666 SF and 184 two-bedroom units that will range from 849-1,043 SF.r

Kim Fugitt of Fugitt & Associates in Fayetteville is the architect, and Crafton Tull & Associates of Rogers is the engineer. Construction value is about $50,000 per unit, and there are 23 buildings. The apartments will look similar to other Lindsey apartments such as Southern View in Fayetteville. Amenities include an 8,000-SF clubhouse with a fitness center, game room and meeting room as well as an outdoor pool.r

The apartments will be available for lease in the late spring. Stearns Street bought the 23 acres from several people in May including some from Jans Ray and Marlene Ray for $372,000 and 3.9 acres from David Ray, Lisa Ray, Darren Ray, Don Harris and Debra Harris for $168,000.r

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Oakridge Tests New Schoolr

Oakridge Builders Inc. of Springdale continues work on the new 121,000-SF Concord Street Elementary school in Lowell that has construction costs of $7.7 million. Perry Butcher & Associates of Rogers is the architect, mechanical engineer and electrical engineer, and Joseph Looney of Lowell is the structural engineer. Sunset Development of Rogers is completing the site work.r

The first phase is expected to be done by August 2004. It includes all classrooms and administrative areas. The common areas will be complete by December 2004. The new school will have about 50 classrooms that will average 900 SF per room.r

The cafeteria and middle-school gymnasium will be about 8,000 SF each with an administrative area at about 5,000 SF, and there will be a smaller elementary gymnasium.r

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Hall Brothers Ready Lots at Silverstoner

Hall Brothers Custom Homes Inc. of Farmington recently bought 13 building permits valued at a combined $1.3 million to build homes in phase two of the Silverstone subdivision in Springdale.r

Next Generation Residential LLC, which bought 39 lots for phase two for $1.2 million in August from H&G Properties LLC, includes Ben Israel, J.B. Hunt, Phil Phillips and Tom Muccio as well as managing members Mike Muccio and Trey Trumbo. Tim Graham is a member of H&G.r

A St. Louis branch of Bank of America provided a $922,500 mortgage for the purchase. Next Generation also secured a $4.4 million construction loan for phase two from First State Bank of Lonoke in August.r

There are a total of 94 lots in the Silverstone subdivision that range from 0.14-0.22 acres and will have homes that range in size from 1,300-1,500 SF. Dixie Real Estate of Fayetteville is the listing agent for the homes that will sell from $124,800-$139,500.r

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Harris Ropes Sports Arenar

Scott Harris of Fayetteville and other investors recently broke ground on a $2.5 million All Star Sports Arena in Springdale.r

The 120,000-SF facility will feature eight basketball courts that can double as 16 volleyball courts, two indoor soccer fields, four indoor tennis courts, an arcade, a fitness center and a concession area. The facility is intended to be available for league play for teams in the surrounding areas as well as special events and competitions.r

Harris, who is a former coach, purchased the seven acres, worth an estimated $300,000, from the First Baptist Church of Springdale Inc. for $10 per a conditional-use agreement. r

The contract agreement allots the church a certain amount of exclusive use. The architect is Jim Mangold of Mangold Construction and Architecture in Rogers, and the engineer is Steve Clark of Fayetteville.r

The general contractor is Don Peters of Don Peters Construction in Springdale. The facility is expected to be complete by May 2004. Arkansas National Bank of Bentonville and Arkansas Capital Bank of Fayetteville are dually financing the construction and the final loan.r

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Lillich & Bossler Book Additionr

Lillich & Bossler Inc. of Siloam Springs recently bought a building permit valued at $1.2 million to build an addition to the Springhill Middle School at 3400 W. Arkansas Highway 72. The 13,000-SF addition includes 10 new classrooms, two main bathrooms and a small side bathroom.r

Hyatt Jackson of Rogers is the architect, and Tatum Structural Engineering Inc. of Rogers is the engineer. The addition also includes a new parking lot that John G. Construction of Siloam Springs is building.r

The addition is expected to be complete by June 2004.