Brandon Banks Otter Subdivision (Real Deals)

Gary Brandon, through his Gary Brandon Enterprises Inc. of Springdale, has started site work on a project that will be valued at $15.36 million upon completion.
Otter Creek Subdivision is located about a half-mile north of the intersection of Arkansas Highway 264 and U.S. Highway 412 in Tontitown. It includes 192 lots on 151 acres as well as 44 acres that was donated to The Nature Conservancy.
Lots are 0.5 acres and up and range in price from $49,500 to $90,000 each. Amenities in the subdivision will include three small lakes, walking trails, a pool, tennis court and pavilion.
The project is being financed by Farmers & Merchants Bank of Tulsa.
Aaron Rushing of CEI Engineering & Associates in Bentonville is the engineer.
Mike Phillips of Re/Max Partners in Fayetteville is listing the lots.
One home already is under construction. Homes in the subdivision will be a minimum of 2,500 SF and buyers of the lots can choose their own builders.
Otter Creek adjoins about 4.5 acres of commercial property fronting highway 264 that is owned by Brett Hash, the co-owner of Re/Max & Associates in Fayetteville.
Hash and Brandon have partnered on other projects, but not this one. The residential and commercial developments are separate projects that happen to border one another.
The commercial land is part of a larger land purchase. Hash paid Arnold Harp about $2.5 million for 75 acres in December of 2004 and donated 15 acres of it to The Nature Conservancy.
Title Associates of Fayetteville closed the land sale.
Pinnacle Bank of Bentonville financed the purchase.
Dollar General already has a store on the land, which is broken up into two lots and can accommodate another 26,000 SF of commercial space.
The commercial space has not been listed as Hash hopes to develop it himself, but would sell parcels from $4 to $6 per SF.
Moulden Builds Bethel Homes
The family of Bernice Mathias, Mia Bryant and Norman Moulden have begun site work on a project that will be valued at $8.5 million upon completion.
Moulden Subdivision is located on Morris Street in Bethel Heights. It will include 61 single-family homes on 18 acres.
ANB Financial N.A. of Bentonville is financing the construction and the purchase of the land, which Moulden bought for an undisclosed amount earlier this year.
WACO Title Co. of Springdale closed the land sale.
The homes will range in size from 1,400 SF to 1,600 SF and each will be priced at about $150,000. Most will be single-story and feature a brick exterior.
Standard amenities will include two-car garages, ceramic tile and high-end appliances such as stoves, microwaves, dishwashers, refrigerators and washers and dryers. Other options are available.
Moulden Construction of Springdale, which is owned by Moulden, will serve as the general contractor/builder of the homes.
Casa Lider Realtors of Springdale will list the homes.
Construction will begin in the spring and the entire subdivision is expected to be completed by the end of 2007.
Bungalows Coming to Cato Springs
Jim Knight, through his The Bungalows at Cato Springs LLC of Russellville entity, has started work on a unique project that will be valued at about $5 million upon completion.
The Bungalows at Cato Springs, located at 800 Cato Springs Road in Fayetteville, will include 30 detached, bungalow-style dwellings that range in size from 990 SF to 1,804 SF.
The 5 acres the project is situated on were purchased from Michael Mitchell and Bruce Hauser for an undisclosed amount in December of 2005.
Heritage Title & Closing Co. of Russellville closed on the land deal, which was financed by Metropolitan National Bank.
Alpha Utilities Inc. of Fort Smith is handling the site work.
McClelland Consulting Engineers Inc. of Fayetteville is the engineer.
Prices for the single-family homes have not been determined and a real estate agency has not been selected to sell the property.
Infrastructure work already has started and no timeline was disclosed for the project’s completion.
Mathias Expanding Ozark Business Park
Mathias Properties Inc. of Springdale, which is owned by Sam Mathias, has completed construction of two office/warehouse buildings on the north side of Ozark Business Park in west Springdale.
Two building permits totaling $1.86 million have been bought in relation to the project.
Lots 14 through 17 are on the north end of Ozark Business Park, which already includes several buildings and tenants, including Mathias Properties’ office. The addresses for the four-platted commercial lots (two for each building) are 5374, 5415, 5442 and 5480 Hailey Street.
First Security Bank of Searcy in Rogers is handling the financing for construction.
The total size of the buildings is 32,000 SF, with a minimum of 2,000 SF and a maximum of 10,000 SF available for lease.
MP Construction Inc. of Springdale, a Mathias subsidiary company, is the general contractor.
Ken Shaner of Rogers is the architect while H2 Engineering Inc. of Fayetteville is the engineer.
Rick Oliver of Mathias Properties is serving as the listing agent. Leasing is underway and prices vary depending on size, but average about $6 per SF.
Calypso Crossing Offers Office Space
Cliff Slinkard and James Odom, through their entity Calypso Properties LLC of Prairie Grove, are nearing completion of two office buildings near the Farmington/Fayetteville city limits.
Several building permits totaling $1.3 million have been bought in relation to the project. The two single-story Class A office buildings are located at 4148 and 4170 West Sixth Street in Fayetteville.
Calypso Crossing has a total of 22,725 SF and sits on 3.35 acres.
Hunnicutt Construction Co. Inc. of Fayetteville is the general contractor.
Jordan & Associates of Fayetteville is the architect.
Tom Hennelly of H2 Engineering Inc. of Fayetteville is the engineer.
Most of the available space is in the shell condition phase and is ready for custom configuration. Spaces can range in size from 725 SF to 10,800 SF. It is being leased for $13 per SF on a minimum three-year lease.
One section of the buildings contains 10 all-inclusive office suites and the sizes range from 180 SF to 350 SF each. Prices for those spaces range from $300 to $500 per month with utilities paid (except for phone and cable) on a one-year lease.
Calypso Crossing is handling the leasing of the building, but also is willing to work with Realtors to find tenants.
Tenants that already have secured space at Calypso Crossing are MEGA Life and Health Insurance Co., the Arkansas Department of Environmental Equality and Ye Old King Pizza, which will open in the spring.
EWI Constructing Another Branch
EWI Constructors Inc. of Fayetteville is the general contractor for a $930,000 bank project in west Fayetteville.
The new branch for Bank of the Ozarks of Little Rock will be located at 2964 West Sixth Street.
Frank Barksdale of AMR Architects Inc. is the architect for the 4,352-SF building. AMR has an office in Fayetteville, but is based in Little Rock.
A building permit has not been issued as the project won’t begin for another six months. The branch should be ready for an opening during the summer of 2007.
EWI has constructed other Bank of the Ozark branches in Bella Vista and Springdale.
Sunset Station Nears Completion
Ryan Fowler, through his entity Sunset Station LLC of Springdale, is developing a retail center at 4237 West Sunset in Springdale.
The project, including construction and the land purchase, is valued at about $500,000.
Financing is being provided by the Bank of Brinkley.
The 4,000 SF building includes three units, but two already are accounted for. Jimmy John’s Gourmet Sandwich Shop will occupy the west end of the building while an undisclosed cell phone provider will be on the east side.
That leaves 1,325 SF of space available in the middle, and lease prices for that space will be negotiated.
Morton Asset Management Co. Inc. of Harrison is the general contractor.
EDA Inc. of Little Rock is the engineer.
The one-story building is scheduled for completion in February.