Author: Unit Multifamily Project in Fayetteville
Friday, Oct.27, 2023 4:05 pm2 min readThree developers have teamed to develop a 600-unit multifamily community on a 23-acre site in Fayetteville.Construction is scheduled to start next year.(Moses Tucker Partners)Moses Tucker Partners of Little Rock said Friday that it has purchased a 23-acre site in Fayetteville with plans to develop a 600-unit multifamily community.The company said the ownership is a joint venture among Equity Partnership Holdings and C&A Companies, both of Denver, and Moses Tucker.The project aims to meet the housing needs of fast-growing northwest Arkansas.“After working tirelessly over the past year, we are thrilled to announce the land acquisition for this upscale multi-family development coming to the Fayetteville community,” Chris Moses, principal, president and CEO of Moses Tucker Partners, said in a news release. “The University of Arkansas and the larger northwest Arkansas community are growing exponentially, so our firm is excited to bring the momentum and success of our multifamily development in central Arkansas to this expanding market.”Moses Tucker said it will lead development of the 23-acre site and, upon completion, handle property management.Construction is scheduled to begin in the second quarter of next year.The companies did not diclose a purchase price for the property, which was owned by the Pam Angus Limited Partnership.The companies said development is in the early design phase.But the project, just off the primary thoroughfare of I-49 and Wedington Drive, will feature a fitness center and yoga studio, two resort-style pools, smart technology, outdoor entertainment areas and access to bike and nature trails.Equity Partnership Holdings is a privately held real estate investment company.It said it has closed more than 30 multifamily properties in nine different states, 14 of those in Arkansas, since 2021.“EPH has invested heavily in Arkansas real estate over the past few years, and we are excited to expand our footprint to the northwest Arkansas market,” EPH Principal Nick Forss said.“The strong growth potential in the area makes our investment a smart choice for EPH investors.”Moses Tucker is one of the largest commercial brokerage and management firms in Arkansas, with 11.2 million SF of commercial space under management. The firm has about 100 employees in Little Rock and Bentonville.C&A Companies is a diversified real estate firm that has developed more than 2,000 residential units, ranging from multifamily communities to semi-custom and fine custom homes.In This StoryMore On This Story
