FORT SMITH, Ark. (KNWA/KFTA) — The apartment complex at 3600 Kinkead Ave. is getting a $10 million renovation after being vacant for the past decade.

Brian Wagers with Elevate Commerical Investment Group said the group has spent about $1.5 million on the project so far.

“We want to bring a nice but affordable apartment community online to Fort Smith. This was 145 units. We’ll be bringing it back close to 140 units,” Wagers said.

Wagers said the renovation will take place in three phases, with work already starting on phase one, which are the first buildings in the 5.5-acre property.

Neighbors who live near the property say the complex has been an eyesore for a long time. Marty Westphal said he’s lived close to the complex his whole life and is excited for what’s to come.

“The property value will go up. Kids will be able to play a little safer,” Westphal said.

Vice Mayor of Fort Smith Jarred Rego has been working on the project for the last year. He said the renovated complex will provide more housing options and transform an unsafe property into new apartments.

“More housing opportunities. It’s going to be a psychic boost to the area. It’s going to be something that’s new and clean and wonderful,” Rego said.

Wagers said he expects the first phase of the renovation to be complete by the fall.