SPRINGDALE, Ark. (KNWA/KFTA) — Spring Creek Village, a mixed-income, multi-family community in east Springdale, will break ground in 2022.
The project will increase housing availability in Northwest Arkansas and present a new, scalable model aimed at meeting the demand for affordable housing, according to a press release from the project’s developers.
The development team will rely on city infrastructure contributions, Opportunity Zone tax incentives and non-competitive development funds to underwrite a portion of the project. The developers say that the availability of these resources increase the chances that the project will not only succeed in Springdale, but can be replicated “in Northwest Arkansas and beyond.”
The 6.3 acre project site is located about one mile east of The Jones Center, near Emma Avenue and McCullough Drive. Residents will have multi-modal access to Springdale amenities by a new connection to the Dean’s Trail spur of the Razorback Greenway.
“We still have a few technical items to address, but the initial framework and contract with the city are set up for a successful project,” says Sterling Hamilton, Assistant Vice President of Cushman and Wakefield, one of the lead developers of the project. “We hope to deliver a walkable, mixed-income community that can be an example for other developers, funders and governmental organizations.”
Work on the project is expected to begin in mid-2022.