May Climbs Aspen Ridge (Real Deals)

May Construction Co. of Fayetteville recently began site work on Aspen Ridge, a 28-acre town-home development in Fayetteville. The project is valued at $38 million.

Plans call for 220 town homes in 39 buildings. Lease rates have not yet been determined.

Hank Broyles and Hal Forsyth of Town Creek Construction & Development LLC are the developers of the project located south of Sixth Street.

Town Creek recently secured a mortgage valued at $6.38 million from Chambers Bank of North Arkansas in Fayetteville for the construction.

Crafton Tull & Associates Inc. of Rogers is the civil engineer.

Bloodgood Sharp Buster Architects And Planners Inc. of Chicago is the architect.

Site work should be complete in about eight months.

Curve II Heads For Rainbow

Clinard Construction Co. of Bentonville recently bought two building permits valued at a combined $3.5 million to build two 14,500-SF buildings off 34th Street in Bentonville.

Curve II LLC, of which Josh Kyles, Jeff Smithers, Eva Thurman and Chris Compton are principals, is the developer of the project.

Jordan & Associates of Fayetteville is the architect. Sand Creek Engineering & Landscape Architecture Inc. of Bentonville is the engineer.

The buildings are slated to be complete in November.

Combined, the buildings will occupy three acres.

Space will lease from $16.50 per SF.

Kyles, representing Kyleton Real Estate Group in Bentonville, is the leasing agent.

Chambers Bank of North Arkansas in Rogers is financing the development.

Morton Takes Indian Trails

Morton Asset Management Inc. of Huntsville recently bought 12 building permits valued at $1.9 million to build 24 duplex units in the Indian Creek subdivision off Ninth Street in Rogers.

Thomas Embach was the original developer of the six-acre subdivision, which was platted in 1995 by Ozark Mountain Surveying & Engineering Inc. of Huntsville.

Loren Shackelford and Robert Husong, through their Another LLC, own the lots.

First Federal Bank of Arkansas in Fayetteville is financing the construction.

The one- and two-bedroom units will average 1,000 SF per side and have about a 65 percent brick exterior.

Clay Morton of Morton Asset Management said he did not know if the units would be for rent or for sale.

Lot sizes will average 0.23 acres.

Taking a Chance On Wobbe Road

Chance Contractors Inc. of Springdale recently bought four building permits valued at a combined $1.5 million to build 32 apartment units in the Wobbe Road apartment complex off Randall Wobbe Road in Springdale.

The four new buildings will be an addition to the existing 76-unit complex.

All units will be two-bedroom, 800-SF and will rent for $475 per month.

David Chance, who owns Chance Contractors and D&P Chance Properties LLC, is the developer of the project. D&P will manage the units.

In January, D&P bought the project from Wobbe Road Apartments LLC, of which James Mathias is a principal, for $4.9 million.

The purchase included 16 acres, 216 future apartment units, a storage facility and the existing two-bedroom apartments. When the project is finished, it will have 292 units total.

Chambers Bank of North Arkansas in Fayetteville is financing the construction.

WBR Engineering Associates of Fayetteville is the engineer.

Mangold Architecture & Construction Inc. of Rogers is the architect.

Landmarc Clears Creekwood Lots

Landmarc Construction of Rogers recently bought five building permits valued at a combined $1.2 million, to build homes in the Creekwood subdivision off Bellview Road in Rogers.

Tom Terminella of Terminella & Associates in Fayetteville is the developer of the 75-acre subdivision.

Pinnacle Bank and First Security Bank, both in Rogers, are financing the Landmarc homes. Chris Bradley owns Landmarc Construction.

In addition to Landmarc, Matt Miller Construction, Horton Construction Co., York Construction, John Montgomery Homes and Jim Jones Construction Co. are the exclusive builders in the subdivision.

Homes will be a minimum of 2,400 SF and will sell from $300,000 to $375,000.

Doug Gibson of Terminella & Associates is the listing agent for all 200 lots. Gibson said all of the lots have been committed.

Nabholz Construction Corp. of Rogers is the site contractor. Bank of Rogers financed the site work. Crafton Tull & Associates Inc. of Rogers is the engineer.

Landmarc’s homes range from 2,400 SF to 3,000 SF. They will feature a variety of high-end amenities. The first home should be ready by January.

Landmarc bought 42 lots from Terminella Gibson Development LLC for $3.2 million in August.

Filbeck Checks Into Bellview

Filbeck Construction Inc. of Springdale recently bought eight building permits valued at a combined $773,136 to build homes in Rogers’ Bellview subdivision off Bellview Road.

Ron Filbeck and Clay Ball own the company.

CEI Engineering Associates Inc. of Rogers is the engineer. Liberty Bank of Arkansas in Springdale is financing the construction.

Bill Lazenby bought 235 of the 292 lots in the Bellview subdivision from developer Mark Marquess in February for $3.2 million. ANB Financial N.A. in Rogers financed that purchase.

Marquess sold the remainder of the lots in April to Navarro Development LLC, of which Michael Whitehead and Gary Rongy are members, for $1.9 million. The homes will range from 1,600 SF to 1,700 SF and will sell from $108 per SF. Lots average 0.13 acres and Filbeck bought them for $41,000 each.

The homes will have a 90 percent brick exterior, sodded yards, architectural shingles, crown moldings, stainless steel appliances, granite countertops and hardwood flooring.

The first home should be ready in November.

Pleasant Crossing Pawns Pad Site

Pleasant Crossing Power Center LLC recently sold lot 3H of Pleasant Crossing to Rogers BYB LLC for $705,539.

Michael Francis, of KMO Development Group Inc. of Tulsa, is the managing member of Rogers BYB.

Arvest Bank-Tulsa financed the land purchase.

KMO will lease the land back to Ozark Restaurant Group Inc. of Ozark, Mo. Kevin and Lisa Rolf are principals in Ozark Restaurant Group, which operates three Backyard Burger restaurants in Missouri.

Ozark owns the franchise territory for Northwest Arkansas, excluding Fayetteville. Kevin Rolf said he would like to open about six restaurants in the area. Rolf said he plans on having the Rogers store open by April.