Gates Open to More Builders at Clear Creek

Only four builders were allowed to develop in John Tyson’s upscale gated community until January. Now, Tyson and Orion Realty, the exclusive listing agent for Clear Creek, have opened the gate to let even more area builders in.

The approved list is up to a dozen.

“As we opened up phases, we needed more inventory,” said James Harkins, a partner with Orion Realty.

Harkins said the move will not reduce the quality of house being built in Clear Creek. The homes and plans have to be approved by the design committee.

“The builder team played a big part as to who to let in,” Harkins said.

“In the next 30 to 60 days, it will be buzzing with activity,” he said. “It’s starting to hum now, but it’s really going to start buzzing soon.”

In July, Orion had closed on 25 of the total 250 lots. As of Feb. 6, that number had reached 60. Harkins said the firm had sold more than 65 lots as of March 19, and another 10 were scheduled to close in April. The active selling season, he said, is just around the corner.

Harkins said there are 17 homes under construction or completed and two families already live in the development.

The subdivision opened Phase IV in late January, which is less expensive than other phases, and requires a smaller initiation fee of only $1,500. A 10 percent discount on the $25,000 membership fee for Phases I, II, III and V is being offered to prospective residents.

Both Tyson and Orion have declined to give an estimated construction cost or build-out value for Clear Creek, although clearly the latter is in the hundreds of millions.

Jeff Martin of Martin Custom Homebuilders Inc. said, “In the last month, they’ve approved other builders on a speculative basis so that they could get more homes to show.”

He didn’t feel like more builders would harm his business.

Martin, who is also building in Fayetteville’s Copper Creek and Covington Park, broke ground on his first home in the development about 10 months ago. He has two customs and one speculative home under construction. One of those is a 5,000-SF home nearing completion. It will be featured in both the Avenue of Dreams, a fund-raiser benefiting Life Styles Inc., and the Parade of Homes sponsored by the Northwest Arkansas Home Builder’s Association, both in June.

Martin declined to quote a price per SF, but said the homes will range from $800,000-$1 million. He has four additional lots available to build on.

Tim McMahon of McMahon Bros. Custom Homes Inc. said he has finished one home in Clear Creek, which is occupied, and is nearing completion on three more. He has plans to start two custom and two speculative homes soon.

McMahon has an additional five lots available to build on. The homes he has under construction are in Phases I, II and III.

All of McMahon’s homes get sprayed-in Bio-Base insulation, a soy-based foam insulation. He also incorporates granite countertops, custom millwork packages and extensive hardwood flooring in most homes, and theater systems in all homes.

McMahon declined to put an average price per SF or a selling price on homes under construction, but said the speculative homes he’s staring soon will sell from $650,000-$850,000.

McMahon isn’t concerned with the flock of new builders in Clear Creek either.

“They’re a little more of a project than your standard fare,” he said of the homes going up in the development. “We’re glad to have the other builders, and we feel fortunate to have as much work as we have out at Clear Creek.”