ERC presents new residential developments at Chaffee Crossing

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ERC Holdings is expanding housing developments in Chaffee Crossing in hopes of expanding the region’s life-work-play destination. The new areas are expected to have a combined economic impact of over $ 100 million when completed.

New developments are Regency Place Phase II, Abbington Creek, Meadows at Chaffee, Providence Phase IV and Alianna at The HUB. ERC President Rod Coleman said there is a high demand for housing in Chaffee Crossing, everything built is already sold and most custom homes are being built in the area. He attributes the housing boom to low interest rates and the opening of jobs in the area. The area is in some good school districts, Fort Smith and Greenwood, and that’s where a lot of people want to be, he said.

Fort Smith learned in July that Ebbing Air National Guard Base at Fort Smith, home of the 188th Wing, will be a long-term pilot training facility supporting F-16 and F- fighters. 35 purchased by Singapore, Switzerland and other participating countries. in the Foreign Military Sales (FMS) program. Up to 36 planes will be part of the center, with the Republic of Singapore’s 425th Fighter Squadron F-16s due to arrive in 2023 and the advanced F-35s in 2026. A final decision on the center is expected in early 2022..

The Fort Smith Regional Chamber of Commerce reports that 345 U.S. military personnel are believed to be part of the center and around 180 and more members of the Singapore unit and around 300 dependents. Training and aircraft from Finland and Poland could also be part of the FMS site in the future.

Mars Petcare announced on September 21 that it was expanding its operations in Fort Smith with an investment of $ 117 million over two phases that are expected to create 140 jobs. Titled “Project Blue Moon” for the Fort Smith board’s discussion purposes, phases two and three build on a $ 145 million expansion and 120 new jobs announced in January.

“And (Arkansas College for Health Education in Chaffee) continues to grow and attract more students, faculty and staff,” Coleman said. “Chaffee Crossing is truly the only residential area of ​​any size that is growing and being built.”

Although he knows that with each cycle this growth in construction will eventually come to an end, but he said that unless interest rates rise significantly, he predicts that the construction trend will continue over the next 24 to 36 months.

The 2020 census showed that Fort Smith’s growth rate was stable, and the metro area’s population increased from 248,208 in 2010 to 244,310 in 2020. Coleman said he believed the new jobs announced in the Fort Smith area since the first of the year were changing that.

“At the HUB, we find that those who buy or rent are moving to Fort Smith from outside the region. They are doctors who come to work for Mercy (Fort Smith) or Baptist (-Fort Smith). We have a lot of doctors moving here. Or they are students who come to medical school. Some are moving to Fort Smith because they are going to work for ArcBest. These are people moving to Fort Smith, ”Coleman said.

PLACE OF REGENCY
Regency Place is the first addition of affordable housing for sale in Chaffee Crossing, according to an ERC press release. Phase II of the project will begin on October 1 and end by August 2022, while the already completed Phase 1 will have homes available for purchase in January. Rausch Coleman Homes of Fayetteville is the builder of the subdivision, which is located on West Chad Colley Boulevard. Floor plans include three and four bedroom models with two or two and a half bathrooms and a double garage. Home prices start in the top $ 100,000. The homes will be in the Greenwood School District. ERC said the economic impact of the development will be around $ 30 million.

ABBINGTON STREAM
Abbington Creek is a luxury duplex development offering unique amenities and combining high-end residential spaces with office and light commercial space, according to ERC. Located on the frontage of Chad Colley, Abbington Creek is slated to open in late 2022. Duplexes comprising 79 lots and consisting of two and three bedroom units with two-car garages are being built by Justin Underwood. The economic impact of the development is expected to be around $ 25 million, according to the press release.

THE Meadows
The Meadows at Chaffee, located on Wells Lake Road next to the new Pinnacle Park addition, will offer mid-range single-family homes. The homes, which will be ready for occupancy at the end of 2022, will be located in the Fort Smith School District. The 35 homes feature three- and four-bedroom floor plans with two-car garages, ranging from 1,800 to 2,400 square feet. The houses, built by Tim Mays, will cost between $ 275 and $ 350,000. The economic impact when completed will be approximately $ 11 million.

PROVIDENCE
Providence Phase IV is the final phase of Providence’s addition of beautiful homes, located adjacent to the new ArcBest and HUB headquarters. The addition of 13 lots to accommodate luxury homes between 2,700 and 4,000 square feet should be completed in mid-2022. Lot prices start at $ 83,950. Home prices in Providence range from $ 500,000 to $ 3 million, making it one of the most exclusive in the area, ERC noted. ERC estimates the economic impact when completed at $ 8 million. The builders of Providence include Michael Anderson with Anderson Quality Homes; Donnie Wise with Wise Homebuilders; Cary Smallwood with Carrington Creek Homes; Scott Deer with Terra Firma Builders; Brandon Richmond with Royal Ridge Construction and Emily and Chapen Rucker with Rucker Fine Homes.

ALIANNE
Alianna at HUB will be the second phase of HUB, Chaffee Crossing’s first mixed-use development. The addition, located on Wells Lake Road, will be ready by the end of 2022. It consists of 21 single-family lots in a closed area, 11 of which have direct access to the Chaffee Crossing trail system. The homes will measure between 2,200 and 3,200 square feet with two, three and four bedroom floor plans. Alianna continues the amenities of Phase I including a swimming pool, dog park, lodge, hammocks and park / green area. The economic impact is expected to be $ 30 million.


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