Site plan illustration, courtesy Specialized Real Estate Group / Enlarge image
Local developers Specialized Real Estate Group today announced a new project in south Fayetteville.
The company plans to redevelop the property currently home to Farmers Cooperative, near the corner of Martin Luther King Jr. Boulevard and South School Avenue.
The new project will utilize the four existing buildings on the property as food and beverage, entertainment, small office, and retail space. The project will also include around 220 new apartments on the approximately 8-acre site.
From the announcement:
The existing buildings are situated along an arc running from north to southwest — the trace of a long-gone rail line that once served the local timber and produce industries. A new boardwalk will follow the route of the old rail line. New apartments along South School will create an inviting streetscape that will welcome pedestrians.
Local architects Modus Studio will design the project, set to begin construction in early 2020. Specialized and Modus have partnered on several other adaptive reuse projects in Fayetteville in recent years, including Eco Modern Flats, 15 North Church Avenue, and 200 West Center Street (home of Arsaga’s Church and Center.)
“This property has been a meeting place for a long time, and we know that it is significant to the neighborhood and to folks around the region,” said Specialized Real Estate Group CEO, Jeremy Hudson. “We are thankful for this opportunity to bring new life to such an important place. We intend to honor the agricultural and industrial heritage of the site as we add new housing and small businesses.”
The Razorback Greenway runs along the west side of the property, as does the Tanglewood Branch, a tributary of the West Fork of the White River. According to the press release about the project issued today, Specialized plans to restore the streambank to address erosion and help establish Ozark native plantings.
We reached out to Matt Crabtree, president of the co-op for information about their plans, and will add that here once we hear back from him.
Update: Co-op president Matt Crabtree said the co-op will remain open through the spring and early summer before closing the location sometime around August.
He said the co-op has purchase land in Lincoln, Arkansas for their warehouse facility and fertilizer store, and though he isn’t ready to disclose it just yet, another Fayetteville-area location is also in the works.
“We will have a presence in the Fayetteville area in the Highway 71 and Highway 62 area,” he said. “I’m excited about the opportunities we have coming for us, it’s all about our customers, and to better serve them, i think we can do that in multiple locations in the future.”
Crabtree said the co-op also owns property in West Fork, but doesn’t plan to utilize it as a co-op location at this time.
A bit more information about the upcoming adaptive re-use project is available at Specialized Real Estate Group’s website.