Rausch Coleman Plunks Down $1.8 Million for 39 Residential Acres

Rausch Coleman Homes of Fayetteville is the latest builder hoping to finish out an abandoned residential development in Benton County.

Morningside subdivision, a 39.1-acre development in Centerton, will be developed into 109 residential lots.

The development site is on Bliss, Seba and Keller streets just north of Arkansas Highway 102.  

Rausch Coleman, through its RC Morningside LLC, recently closed on the purchase of the land for $1.88 million.  David Frye is the managing member of the LLC.

Chambers Bank of Danville financed the land purchase.

Morningside Development of Centerton LLC, led by Dale Lancaster, was the seller.

The Centerton Planning Commission originally approved the Morningside development plan in 2004, calling for a 200-acre subdivision to include 411 single-family and multifamily units. 

The subdivision was replatted in 2011.

“[The subdivision] is in good standing with the city as far as the plat goes,” said Stephen Rausch, director of engineering and land development. “We didn’t really dive into why things went south for [Morningside].”

Rausch Coleman specializes in first-time homebuyers and builds in Oklahoma, Arkansas and Missouri. John R. Rausch, chairman and CEO of the company, said Morningside homes would likely start at $120,000 and 1,100 SF.

“I’m really interested to see what the market is going to drive [the prices] to out there,” he said. He also noted the business boom occurring in Centerton, making the area attractive for home builders.

“We definitely think it is,” he said. “We’re certainly trying to catch our part of that.”

Fayetteville-based builder Buffington Homes of Arkansas is also planning to revive an abandoned residential project in Benton County.

Brighton Farms, a 41.1-acre development between Bright Road and Morning Star Road in southwest Bentonville, will be developed into 171 buildable lots.

Buffington Homes paid $1.67 million for the land.