FAYETTEVILLE, Ark. (KNWA/KFTA) — A new affordable rental development broke ground in West Fayetteville on October 3 with the help of the Excellerate Foundation, Strategic Realty and New Heights Church. The CEO of the Excellerate Foundation, Jeff Webster, aims to help the housing crisis in the area with the new rental housing.
“The crisis has been with us for years, but it has intensified recently due to COVID-19,” Webster said.
Cobblestone Farm Community will home nearly 100 families in duplexes of one to four bedrooms ranging in cost from $365 and $625 monthly rent, according to a press release. The community will be immediately south of Cobblestone Farms at Wedington Drive and 54th Avenue.
“Regional data shows that there are at least 150,000 people who can’t afford market-rate housing in Northwest Arkansas, especially when it comes to rental properties,” Webster said. “And, as a study released in 2019 by Walton Family Foundation notes, ‘failure to act could result in widespread instability, including job losses, increased poverty, and rising numbers of homeless individuals and families.’”
Local business Potter’s House will offer residents of the Cobblestone Farm Community employment opportunities in its onsite processing center for its thrift stores. A community garden will help make food available.
“We believe there is more to the solution than just building more affordable housing,” said Webster. “We believe that we must build communities. A community is its people, people from all walks of life, people who look out for one another, people who help lift up those who fall and open doors to new opportunities. A community does more for its people than simply keep them off the streets. That is why we believe in Cobblestone Farm Community.”
Construction of Cobblestone Farm Community is expected to be completed between late 2023 and early 2024. To learn more and stay informed, visit Strategic Realty.