The new owner of one of the most prominent pieces of vacant property in Fayetteville apparently has big plans for the lot that sits at the gateway to the downtown square.
A Mountain Home company called NWAP, L.L.C. has finalized the purchased the former Mountain Inn property on College Avenue between Mountain and Center streets, and is reportedly planning a mixed-use hotel, condominium, and retail project with a parking deck.
According to the Arkansas Secretary of State’s office, Mountain Home attorney Mark Carney is listed as the agent for the company, but Carney’s secretary said Thursday the company was registered for an unnamed client.
The address of NWAP, L.L.C. is also that of Computer Automation Systems, a Mountain Home company founded by business man, Harvey Hughes.
Ramsay Ball, principal at commercial real estate firm Collier’s International and listing agent for the property, last month confirmed that his client had accepted an offer on the 1.02-acre site, but would not identify the buyer.
Hughes could not be reached for comment on Thursday, and Ball did not immediately return a phone call.
Update: Ball confirmed the closing this evening, but declined to elaborate further on the details of the sale.
Read more about the property in our May 9 story.