Lindsey Scopes Southern View (Real Deals)

Lindsey Construction Co. of Fayetteville recently bought six building permits valued at $9.4 million to build 114 apartment units in Phase II of the Southern View apartment complex off Sixth Street in Fayetteville.

Each three-story building will be 24,000-SF and will break away from the standard of Lindsey Management Co.’s 12-unit, two-story building design. The bottom floor will have 6,733-SF of commercial space available, although lease rates haven’t been determined. The top two floors will feature seven one-bedroom and 12 two-bedroom units in each building.

One-bedroom units will range from 560 to 627 SF and sell from $445 to $475. Two-bedroom units will range from 883 to 900-SF and sell from $595. The units should be ready in six months.

Southern View Apartments Phase II LP, of which Jim Lindsey is a principal, is the developer. Kim Fugitt of Fugitt & Associates of Fayetteville is the architect. Crafton Tull & Associates Inc. of Rogers is the civil engineer. Arvest Bank-Fayetteville is financing the construction.

Dunn Does St. Mary’s

J.E. Dunn Construction Co. continues doing $6 million worth of site work construction for the new St. Mary’s hospital off Interstate 540 and New Hope Road in Rogers. Site construction began in the first quarter of 2005.

The foundation and concrete work, which are not included in the above amount, are valued at $3 million and should start within the next two weeks. The overall project, which is scheduled for completion at the end of 2007, will be valued in the range of $145 million, and includes site work, the 200-bed, 332,000-SF hospital, a 90-physician medical office building and the 15,000-SF central energy plant.

St. Mary’s current facility off Walnut Street in Rogers has 153 beds.

St. Mary’s still has about $17 million to raise in its capital campaign, and has raised about $23 million. About $105 million of the project will be funded through operational revenues and reinvestments.

Crafton Tull & Associates Inc. of Rogers is the civil, structural and mechanical, electrical and plumbing engineer. Perkins + Will of Atlanta is the architect.

Elder Loves Les Condos

Elder Construction Co. of Springdale recently bought four building permits valued at $2.2 million to build condo units in the Chevuax Court complex in Fayetteville.

Chris and Kerri Elder of C & K Properties LLC are the developers of the subdivision off Salem Road.

Miller Boskus Lack Architects PA of Springdale is the architect. Engineering Services Inc. is the civil engineer.

The entire 4.7-acre complex will have 58 condo units averaging 1,200 SF and selling from $125,000.

Arvest Bank-Springdale is financing the construction.

Bell-Corley Banks With Eureka Springs

Bell-Corley Construction LLC of Rogers will soon start construction on a 5,500-SF building for the Bank of Eureka Springs valued at about $1.1 million.

The new branch will be located off Arkansas Highway 23 in The Park subdivision across from the entrance to Holiday Island.

Bank of Eureka Springs is the developer and is financing the construction internally. Charlie Cross is the president of the 93-year-old Bank of Eureka Springs. The Cross family maintains a majority ownership in the bank.

Johnson Troillet Architecture of Holiday Island is the architect.

Malone Finkle Eckhardt and Collins of Springfield, Mo., is the mechanical, electrical and plumbing engineer. The structural engineer is Bill Hathaway Engineering of Holiday Island.

The bank will feature a loan center, meeting/community room, an investment and financial planning center, expanded drive-through lanes and free in-house internet services for customers. The bank will close an existing branch located off Woodsdale Drive in Holiday Island, which opened in 1985.

The new bank is expected to be complete by the end of 2005.

Bank of Eureka Springs bought the 1.5-acre lot in April 2001 from Tom Dees for $170,000.

Legacy Oaks Sees Site Work

Site construction should begin within the next month on the new 100-acre Legacy Oaks subdivision located in Gravette at the southeast corner the intersection of Arkansas Highway 72 and Stagecoach Road.

The developer is Seventy Two West, LLC, of which Tom Smith, Christine Howart, Damon Wright, David Gean and Jeff Shipley are principals. Seventy Two West bought the 100 acres for the subdivision from Phillip and Joyce Bryson for $1.1 million in October. Arvest Bank-Bentonville financed that purchase.

Morrison-Shipley Engineers Inc. of Bentonville is the engineer for the subdivision, which is located across the road from the new Gravette High School under construction.

Phase I consists of 100 acres which will be developed into 56 duplex lots, 124 single-family lots, and 22 acres of commercial land located along south side of Arkansas Highway 72. Lots will sell from $30,000 to $40,000. The lots should be ready for home construction in the Spring 2006. Phase II of the project is still in the planning stages and will consist of an additional 120 acres, which will be developed into a combined total of 250 to 300 single-family and duplex lots. The acreage for Phase II is under contract.

Cobblestone Follows Camden Way Lots

Cobblestone Homes of Fort Smith recently bought six building permits valued at a combined $853,962 to build homes in the Camden Way subdivision at the intersection North Second and McClure Streets in Rogers.

Ceola Construction Inc., Tony Jones Construction Inc., Tyson Homes LLC, Demarest Construction Inc., Maddox Properties, Andregg Custom Homes Inc. and RT Homes Inc. are also building in the 162-lot subdivision.

Cobblestone bought its lots from developer Mike Pennington of Pennington Development on May 2 and paid about $40,000 per lot for the 20 lots, which average 0.20 acres.

Landtech Engineering Inc. of Springdale is the engineer.

Cobblestone Homes is a partnership between Christian Brothers LLC and Rouse-Walker Properties, of which combined Mark Rouse, Rocky Walker, Mont Sagely, Cari Smallwood and Aaron Wirth are principals.

Bank of Rogers is financing the construction.

Cobblestone homes will average 1,800 to 2,200 SF and will sell form $112 per SF. The minimum in the subdivision is 1,700 SF.

Mont Sagely of Cobblestone Real Estate will list the homes, which will feature 90 percent brick exterior, sodded yards, decorative stonework and architectural shingles.

Cobblestone will also be the only builder in a new 89-lot subdivision in Fayetteville called Salem Heights that should be ready for home construction later next month. The subdivision is 40 acres.

Crossland Picks Pinnacle Suites

Crossland Construction Co. of Rogers recently bought a foundation permit valued at $73,000 to begin construction on the foundation of a 50,000-SF building off 3201 Market St. in Rogers. It is the second building in the Pinnacle Suites development.

Construction on the four-story, 80,000-SF building at 3300 Market St. in the Pinnacle Suites project began in October.

Tucker Sadler Noble Castro Architects Inc. of San Diego, Calif., is the architect. The civil engineer is CEI Engineering Associates Inc. is the civil engineer.

Liberty Bank of Siloam Springs is financing the construction.

It is part of a three-building retail/office project valued at $50 million. The last two-story building should start construction in the next 45 days.

The Pinnacle Group — of which Bill Schwyhart, J.B. Hunt, Tim Graham and Robert Thornton are principals — is the developer of the Pinnacle Suites project.