Allegiant Air Develops XNA to Orlando Flight

Allegiant Air, the newest addition to the Northwest Arkansas Regional Airport (XNA), has added a new destination……..

The airline announced this week that it has added Orlando to its list of XNA destinations. Beginning November 19, 2009, non-stop service will be offered between XNA and Orlando’s Sanford International Airport. Introductory fares will start as low as $70 for a one-way ticket. The flights will depart Thursday evenings from XNA at 6:15pm and returning from Orlando at 4pm on Sundays.

Orlando will be the 3^rd location serviced by Allegiant Air from XNA, joining Los Angeles and Las Vegas. Current Allegiant flights have been running at 96% capacity. Allegiant tends to service ‘travel destination’ cities, including Fort Lauderdale and Phoenix.

Allegiant has filled a low-cost carrier void at Northwest Arkansas Regional. The Las Vegas-based discount carrier has seen potential in the growth of Northwest Arkansas. As other airlines have cut flights and the number of operating planes, Allegiant has grown steadily – including the posting of over $50 million in net profit for 2008.

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Northwest Arkansas Listed as City for Real Estate Recovery

According to Forbes.com, Northwest Arkansas is poised as one of the cities to recover from the recession. It is estimated that area like Arkansas and Texas will recover faster, including cities like: Austin, San Antonio, Dallas and McAllen. Florida, Nevada and California will not recover as quickly – were based on education and health care growth.

The survey, estimated from Moody’s Economy.com, listed the cities that are “best poised for recovery”, considering the projected gross domestic product, unemployment figures, home prices, incomes and affordability data.

The Cities estimated for best recovery include:
1) Austin-Round Rock, Texas
2) Fayetteville-Springdale-Rogers, Arkansas
3) Boulder, Colorado
4) Huntsville, Alabama
5) San Antonio, Texas

The Worst cities for recovery include:
1) Flint, Michigan
2) Fresno, California
3) Detroit-Warren-Livonia, Michigan
4) Modesto, California
5) Salinas, California

Based on the fact that Wal-Mart is considered “recession-proof” by many on Wall Street, the Northwest Arkansas area is still experiencing significant growth. Northwest Arkansas has a $14.5 billion projected GDP by the end of 2010 and an unemployment rate of just 5%, far below the national average. Interested in property or real estate in Northwest Arkansas? Visit NorthwestArkansasLand.net to see property for sale near XNA Airport!

Crystal Bridges Permits Granted: Development to Continue in Northwest Arkansas

Late last week, over $30 million in building permits were granted to Crystal Bridges Museum of American Art. According to the Arkansas Democrat-Gazette, the museum received the permits on May 21st.

Announced in 2005, the museum was originally scheduled to open in May of 2009. The end date was reset to 2010 last year, and now, there is no target date. Virginia Germann, Director of Museum Relations for the privately-funded museum, won’t comment on a target date for completion. Many construction experts within the Northwest Arkansas community predict that construction may be completed closer to July 2011.

Even after the museum is completed, there will be a delay before its opening. Lance Blasi, the Chief Building Inspector of Bentonville, claimed, “You know that new car smell’? That has to be gone before they can bring the artwork in. It damages the art work, so I’m told.”

Eight separate permits – ranging from $1.2 - $14.5 million have been secured. Permits account for areas including: the Administrative building, tower and parking garage, museum store, museum area, dining and service area, and mechanical area. Permits do not account for construction progress.

The Crystal Bridges Museum of American Art is a partnership between Wal-Mart heiress, Alice Walton, and the Walton Family Foundation.

Crystal Bridges Museum of American Art will be a world-class museum that is a magnificent contribution to Northwest Arkansas growth. Interested in investing in commercial or industrial property in NW Arkansas? Visit Northwestarkansasland.com to see mixed-use and commercial use real estate properties located in Bentonville and near the Northwest Arkansas Regional (XNA) Airport. Click here for more information.

Bentonville Development to Include Skating Rink Near Crystal Bridges

Downtown Bentonville has approved a permanent ice-skating rink downtown….

Bentonville Mayor Coberly encouraged the project after an out-of-state trip in 2003. In 2006, in a joint effort with the Bentonville Advertising & Promotion Commission, the city and A&P worked together to turn the corner section of the Harps grocery store parking lot into a temporary ice-skating rink for 5 weeks. The temporary rink was at a cost of $90,000 per year. 10,000 people skated in the first year. What started as a temporary rink, now will be a permanent facility. The downtown area will accommodate an open-air skating rink, splash park and mini amphitheater.

The open-air ice rink will be located north of the downtown Bentonville Square, near Compton Gardens, and will operate from November to February each year. It will be a 70 ft by 100 ft rink, and will connect to pedestrian and bicycle trails to the Crystal Bridges Museum of American Art. During the warm months, a fountain and splash park with amphitheatre will take the place of the rink.

Coberly claims that the skating rink creates “a Norman Rockwellesque atmosphere around the Square”. The funding for the permanent rink will come from hotel and restaurant tax funds. According to the Bentonville Convention and Visitors Bureau, construction will begin on the project within the next 8-12 months, with a slated opening date of spring 2010.

As development continues with the new rink and the Crystal Bridges Museum of Art, growth in Northwest Arkansas is inevitable. Interested in real estate and land in Northwest Arkansas? Visit northwestarkansasland.net to see our properties for sale in Bentonville and near XNA Northwest Arkansas Regional Airport.

Newer, Faster Projects for Development in NW Arkansas?

According to nwanews.com, Bentonville is looking to execute some “smaller-scale projects”-- while waiting for a prior-approved project--the widening of Southwest I Street from Hwy 12 to Hwy 102 to a four-lane thoroughfare.

Bentonville voters approved a $118 million bond in 2007, of which 85% of monies must be spent by 2010. As I Street awaits approval, two other projects have been proposed for execution:

First proposed project:

• Connecting Northwest 5th St. to North Walton Blvd. in Bentonville
• Would alleviate congestion during school hours
• Area encompasses three elementary schools, one middle school and a junior high school

Second proposed project:

• Beautification initiative to tie NW 2nd St., near Midtown Center, to the rest of the Bentonville Square
• New paving, brick sidewalks and crosswalks, decorative street lamps

The current economy is driving competition in the construction industry. In Northwest Arkansas, construction bids are coming in as low as 30% lower than comparable bids made from 2007-2008. Many Bentonville councilpersons are arguing that it makes sense to pay for these projects before the economy drives pricing upward. Northwest Arkansas Regional Airport (XNA) officials have also experienced recent, lower construction bids amid the Highfill expansion…..

The council is expected to vote on the Bentonville projects in the near future.

Interested in Northwest Arkansas land and development? Visit Northwestarkansasland.net. View properties for sale in Arkansas, near Wal-Mart headquarters and Northwest Arkansas Regional Airport (XNA). Click here for more information….

Development for XNA and Northwest Arkansas

On May 22, 2009 at 8:25pm, the Northwest Arkansas Regional Airport (XNA) in Highfill, AR will debut the inaugural flight of Las Vegas-based, low-cost carrier, Allegiant Air.

XNA, which has operated for 10 years, has sough a low-cost carrier to further the development of the airport. Airport officials have dubbed the inaugural flight “an historic event”. The new flight will take off from XNA to LAX on Friday nights, and will return from LAX on Mondays. The flights will range from $99-$119. The MD-80 135 passenger jet is already booked at capacity for the first flight. This newest addition fills a void - XNA has been without a Los Angeles flight for a year, since American Airlines discontinued the service.

John Fenyes, Director of Sales for Allegiant Air has claimed “Allegiant has enjoyed a great deal of success, even with everything that’s going on with the economy and the airline industry….So much of that success can be contributed to timing, and we believe the time is right to offer service from northwest Arkansas”. In addition, on June 4th, Allegiant will begin service from XNA to Las Vegas with tickets starting at $79. Allegiant is focused on linking travelers to destinations including: Fort Lauderdale, Las Vegas, Orlando, Phoenix/Mesa, Tampa/St Petersburg and Los Angeles.

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XNA Airport Development in Works for Northwest Arkansas

The Benton County Daily Record reported this week that the expansion of a second runway at XNA airport has begun in Highfill.

Although ridership was down slightly this year, it is viewed by XNA Airport officials as a temporary setback, due to the economy. The alternative landing surface runway at XNA is nearing completion. The last phase of the project, which will include paving and electrical work, should be completed by the end of 2010. The existing runway will be resurfaced upon completion of the second runway so that the airport will not have to shut down air service.

The improvements to XNA have cost the airport little. The airport received federal grant money for the project, and additional federal funds are expected to be awarded this fall.

The next project for XNA will be redesigning and expanding the upper level concourse. Gates will be added and moved, and a full-scale concession and retail area will be added. XNA officials have already paid for design work on the project. The expansion is estimated at $25 million, and the airport would need to raise about $12 million to finish the project. The expansion is expected to double the revenue to at least half a million a year. Bids have come in under expectations as the recession forces contractors to lower prices, so the project may win approval sooner rather than later.

Highfill is buzzing! There is amazing growth and development in Northwest Arkansas that can be attributed to the XNA Airport. Looking for land or real estate for sale in Northwest Arkansas? Visit Northwestarkansasland.com to see land listings near XNA Airport. Click here for more information.

Development, New Jobs in Northwest Arkansas

The Morning News reported this week “New Hotel, Vehicle Dealer, Restaurants Open in Area”.

The new developments in the area will add about 90 jobs to the Northwest Arkansas area. The hotel, a Homewood Suites in Fayetteville, cost over $5 million to construct. The development has 96 rooms with kitchens and is located off of I-540 at exit 16. Fayetteville also opened a new Andy’s Frozen Custard this week that will employ 20 people.

In Springdale, Ryder Systems Inc. opened a new service facility that “will service light- and heavy-duty trucks, tractors and trailers”. The location will have 15 employees. Volkswagen of Northwest Arkansas opened in Rogers in the former Kmart space. The new owners have spent $3 million on buying and renovating the space, and expect to have 27 employees running the dealership on a full-time basis.

This is good for the growth and development in Northwest Arkansas. Looking for real estate or land in Bentonville or Centerton? Visit Northwestarkansasland.com to see land for sale near XNA airport. Click here for more information.

Road Widening Should Be Good for Development in Northwest Arkansas

Residents of Northwest Arkansas are well aware of the inconveniences that come from traffic in Bentonville….

Currently, the city is working on the widening of Highways 102 and 72 in Bentonville. The project is due for completion by the summer of 2011. The widening for the 102 project will stretch from South Walton Boulevard to Greenhouse Road and will be expanded from two to five lanes. The project has a price tag of $9.3 million, and is intended to ease congestion for commuters to Wal-Mart headquarters and supplier offices. The 2.3 mile stretch of road is currently on target and the drainage work should be completed before the winter months.

In addition, the widening to five lanes of Arkansas Hwy 72 (Central Ave) from NE J Street to US Hwy 71 – should also be completed within the next five months. The 72 project will cost $6.5 million, and will also have a consistent lighting theme throughout downtown Bentonville.
Paving should begin this summer on both projects.

These projects are significant to the future growth of Northwest Arkansas. In many cases, there has been growth and development beyond the capacity of the area’s infrastructure. Looking to capitalize on the growth in NWA? Visit Northwestarkansasland.net for real estate and land for sale near Bentonville and the Northwest Arkansas Regional Airport (XNA)!

Northwest Arkansas Green Expo to Highlight Area Development

Much has been made lately about “green” practices. From Wal-Mart to the White House, sustainability has become a trend, a priority, and a reality, as tens of millions of dollars are being invested to make our country more earth-friendly.

It has been suggested that Northwest Arkansas could very well be the “Green Valley” in the midst of this movement. Area businesses and development groups are beginning to capitalize on this concept. The Bentonville-Bella Vista Chamber of Commerce will host the first Northwest Arkansas Green Expo on May 8-9, 2009.

The Green Expo, a free event that will be open to the general public, will showcase companies, concepts, and networking opportunities. The event will be held at the Benton County Fairgrounds at 7640 SW Regional Airport Blvd., at Hwy 12 and Barron Rd. in Bentonville.

The event will feature speakers from sustainability companies and environmental leadership executives with green seminars and workshops, as well as an outdoor food pavilion.

Visit our official website at: www.nwagreenexpo.com

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Benton County Among Fastest Growing Areas in Nation...

According to the U.S. Census Bureau, Benton County is still among the fastest growing areas in the nation…..

As of July 1, 2008, Benton County is the 58th fastest growing county in the country over the past eight years since the 2000 Census, growing 36.8%. Additionally, the Bentonville School District has grown more than 80% since 2000. Washington County, as well as the Fayetteville-Springdale-Rogers Metro area has followed the same pattern of growth.

NW Arkansas growth has slowed slightly in the past three years, but still maintains a “healthy growth rate” of over 3%. The increases can be attributed to the growth of the business community, including Wal-Mart, Tyson Foods, and J.B. Hunt and the companies that support the major industries. Growth estimates are based on birth, death, tax, military and Medicare records.

The area’s growth affects schools, city infrastructure and emergency services, however it also means a higher tax base to pay for needs. Currently, the area is looking to work on roadways to fight congestion that has occurred as a result of the development in the area. Hospitals are also being relocated and expanded to accommodate growth. There will be another Census in 2010…….

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Allegaint Air to Bring Growth to Northwest Arkansas?

According to The Morning News, Allegiant Air, the new discount air carrier at Northwest Arkansas Regional Airport, has announced that it has seen passenger increases for March….

This is good for the development of XNA and Northwest Arkansas in general.

The discount airline will be flying their MD-80 series jets to and from Los Angeles (LAX) beginning May 22nd and to and from Las Vegas (LAS) beginning June 4th , with fares as low as $79.

Allegiant Air, a Las Vegas-based company, reported an 18.5% increase for the year, and an increase of 12.1% for the quarter year-to-date. Allegiant is known to fly to ‘cities in the sun’, including Orlando, Tampa, St. Petersburg, Ft Lauderdale, Phoenix, and Mesa, AZ.

An analyst claimed that Allegiant Travel is “uniquely positioned to take advantage of and benefit in this environment”, referring to the current economic climate. The airline considers smaller cities that are leisure destinations its core market niche.

Shares of Allegiant Travel Co., the parent company of Allegiant Air, have traded from $15.89 to $49.06 in the past 52 weeks. Click here to read the entire article…..

The expected success of the airline at XNA will be good for Northwest Arkansas real estate and development around the airport. Click here to see properties and land for sale near XNA.

NW Arkansas Growth to Include Las Vegas in XNA Plans...

XNA, in addition to replacing the flight to Los Angeles, is now adding Las Vegas to the flight roster…..

The Morning News reported that Allegiant Air, the new discount carrier at Northwest Arkansas Regional Airport, will begin flights between XNA and LAS on June 4th.

The nonstop flights to the desert will be offered at introductory fares as low as $79 each way. After the introductory special, flights will start at $99 each way. The schedule for the flights from Northwest Arkansas will leave XNA on Thursdays at 8:45 pm, and arrive in Las Vegas at 9:50 pm. The flights will return on Sunday, leaving LAS at 3:15 pm and arriving at XNA at 8:05 pm. The airline also plans to “offer round-trip 4-day vacation packages with accommodations at the Stratosphere Resort Hotel as low as $214”.

Allegiant Air began flights at XNA just 2 weeks ago, on March 12th. The airport is “thrilled the airline has decided to expand their service so quickly”. The XNA-LAX flights will begin on May 22nd.

This is another factor that should be good for area growth in Northwest Arkansas……Looking for land in Arkansas or near XNA Airport? We have hundreds of parcels of property for sale in Arkansas, many near Wal-Mart Headquarters, XNA Airport and Crystal Bridges Museum of American Art! Visit NorthwestArkansasLand.net to see all of our parcels of land for sale…..

Land in Northwest Arkansas - New Green Valley?

Earlier this month, there was a forum at the Arkansas World Trade Center in Rogers. The group gathered was a commentary for the positive growth, job creation and economic prosperity for the past several years and where it will lead.

Wal-Mart, over 1300 suppliers, Tyson’s, JB Hunt, XNA Airport, new shopping centers, the Crystal Bridges Museum of American Art, and Arvest ballpark, and the University of Arkansas are just some of the region’s highlights.

Kathy Deck, an economist at the Sam M. Walton College of Business posed the question “What’s going to fuel the next boom?”, as she cited that the area has gone through three waves of changes thus far. The first wave was associated with the growth of the large companies – Wal-Mart, Tyson’s and JB Hunt. The second wave was supply chains for the first wave companies. The third wave was composed of companies providing amenities to the first two waves

Currently, there is pressure to make NWA a “green valley” where sustainability research is a point of action, noting that it has already started to come together
much like in Sweden, the worldwide leader in economic development. In fact, there is now an Applied Sustainability Center at the University of Arkansas’ Fayetteville campus that was funded from a $1.5 million grant from Wal-Mart. Many have made comparisons between with Silicon Valley in the 1960s, as Swedish companies like StoraEnso and INEOS Bio have construced facilities in Fayetteville.

Interested in investing in the Green Valley? Visit NorthwestArkansasLand.net for information about our land development deals near XNA Airport and Wal-Mart headquarters….

XNA Airport Approved for Growth in Northwest Arkansas

The Morning News announced yesterday that XNA, Northwest Arkansas Regional Airport, has been awarded $7.8 million toward a new taxiway at the airport. The money received is part of the federal stimulus money, The American Recovery and Reinvestment Act of 2009.

The new taxiway is being built to runway standards and will eventually be used as an alternate runway, allowing significant growth at the airport location. The existing runway was built in 1998. In order to make repairs, it would have required shutting down the entire airport.

The award was announced by Senator Mark Pryor and Senator Blanche Lincoln. Kelly Johnson, the airport director, stated “It’s a nice surprise…We didn’t think we were going to get any stimulus money…this really moves the project forward”.

The new money follows a $10 million grant awarded in February by the FAA that will pay for “earthwork and the first phase of paving”. The total bill on the new taxiway project is estimated at $45 million. Over $23 million of the total amount has already been approved. The new taxiway, which will include an 8,800 foot taxiway, lighting and navigational equipment, should start by the end of March and is projected to take 9 months. The total project will take 3-4 years for completion.

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Crystal Bridges Museum to Expand-Add Additional Land in Arkansas for Bike Trail

Much attention is being paid to the progress of the Crystal Bridges Museum of American Art, although no one, to date, has been able to view the museum, even as construction has persisted.

The Crystal Bridges Museum is to be a world-class institution that is
self-described as “providing different entries to art”. The museum will feature sculpture installations under open skies and trails in a wooded background.

Also announced, the Museum will open a bike trail that will give observers a “first opportunity to explore the grounds” and is slated for a May opening. The trail has been designed by the Bentonville-Bella Vista Trailblazers and will traverse a ¼ mile that will stretch from Tiger Boulevard to Compton Gardens. The bike trails will be tied to the existing trail system in the city of Bentonville trails and will add entry points to the museum via downtown.

There is also an observation area that will allow viewing of the Crystal Bridges campus and a parking deck that is being planned underground.

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Crystal Bridges to Eventually Bring Metro Growth to NWA

According to the Arkansas Democrat-Gazette, there still is not an “end date” for the conclusion of construction on The Crystal Bridges Museum of American Art in Bentonville.

Bob Workman, the executive director of the Museum, spoke last Thursday at the Bentonville Public Library in a panel about the architecture and construction of the museum. The conference was held as a result of consistent inquiries by both local and national media that are trying to determine when the Museum will be completed. There is no firm answer to date. The Museum is located on a 100-acre plot that is tree-lined and landscaped. Workman has described the process as “Design. Refine. Design. Refine”.

The Crystal Bridges Museum of American Art is slated to be a “world-class art museum in the woods”, unlike many of the nation’s famed museums in that it is located quite remotely from a major metropolitan area. However, Workman claims, “having the best engineering minds has been an extremely important part of this”.

Both Ms. Walton and Workman participated in the selection of architect Moshe Sofdie to complete the museum. Sofdie, a famous North American architect, was selected because “It was very clear to us; Sofdie had this ability to tie a building into its setting, which is a major emphasis of this museum….(he) has a way of infusing light into the gallery experience”, according to Workman.

The museum is to be inspired by a variety of famous buildings and museums. There are parts modeled after the Buffalo Bill Museum in Cody, WY, the Nasher Sculpture Center in Dallas, TX, the Minneapolis Institute of Arts, the Salt Lake City Public Library, the National Gallery in Canada, and most importantly, Exploration Place. Exploration Place is the children’s museum in Wichita, KS that was also designed by Sofdie.

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XNA Airport Growth Continues - New Discount Carrier

XNA Airport announced this morning that it has completed a deal with Allegiant Air that makes the airline the first discount carrier to the area.

Northwest Arkansas Regional Airport has been looking for a discount carrier for the airport for some time. Allegiant Airlines is a subsidiary of Allegiant Travel Co., a Las Vegas-based corporation. The airline promotes itself as the “Official Airline for Sunshine”, with flights to Las Vegas, Los Angeles, Phoenix, Ft Lauderdale, Orlando, and Tampa. The company also has plans to set up a Los Angeles base by May 1st.

Allegiant will offer flights from XNA to LAX twice a week beginning May 22nd. The airline will offer an introductory special of $99 each way that will eventually increase to $119 each way. Allegiant will also fill the void left by American Airlines. Beginning April 7th, the airport will lose a daily flight from LAX, currently served by American.

Allegiant Air is one of the few airlines that has increased in number of passengers. XNA is measuring its passenger statistics carefully. The airport has stopped flights to Raleigh-Durham, Washington D.C., Miami and Salt Lake City due to empty flights, but has increased the frequency of other flights. New passenger statistics will be announced by XNA next week……

Northwest Arkansas continues to grow, particularly in the area of the Northwest Arkansas Regional Airport. Visit NorthwestArkansasLand.net to see properties for sale near Wal-Mart headquarters and the XNA Airport!

Northwest Arkansas Growth Decisions to be Made Tomorrow...

The city of Bentonville is making a variety of changes that will provide for growth in the Northwest Arkansas area. As the area continues to prepare for the opening of the Crystal Bridges Museum of American Art and Northwest Arkansas Regional Airport expansions, the City Council will be deciding on a variety of growth details tomorrow. Among the decisions to be made:

* Widening of Highway 72 from Interstate 540 to the downtown Bentonville Square
* Design, bid and construction administration agreements
* Improvements to Highway 12 from Highway 71B to Shell Road
* Property line adjustment at the Wal-Mart Home Office to create additional parking spaces
* an ordinance amending the staff time required for review of planning applications
* an ordinance amending the Northwest Arkansas Regional Airport Overlay District

We will be paying attention to the decisions made tomorrow night…..Interested in land in Northwest Arkansas? Contact us and view our properties for sale at www.northwestarkansasland.net. We have a variety of parcels for sale, including land near Hwy 12 and XNA Airport!

Land Purchased for Development of Northwest Arkansas Highway

It was announced this week by multiple news sources that Missouri has purchased necessary land to complete the new Bella Vista Bypass deal.

The Missouri Department of Transportation, based in Springfield, MO, has purchased 250 acres of land for the project. There are 30 parcels that will directly affect rights of way for the Bella Vista bypass project.

The Arkansas portion of the new roadway is estimated to cost around $225 million, and Missouri’s portion of the bypass will be $70 to $80 million. The highway project will be an extension of Interstate 540, extending the route to outside of Bella Vista where current congestion has made travel incredibly congested. In addition, the project will also build a portion of the Interstate 49 project that will extend western Arkansas north to Kansas City, MO and south to Shreveport, LA.

In order to subsidize the costs of the highway extension, the Northwest Arkansas Regional Mobile Authority voted unanimously to make the Bella Vista bypass a toll road. The amount to be paid for the necessary Missouri land has not yet been disclosed. It will be revealed after all real estate transactions are completed.

The Arkansas Highway Commission will meet at the state’s Highway and Transportation Department headquarters in Little Rock on March 13th at 10am.
New Highway Commissioner, Dick Trammel of Rogers, has encouraged Arkansas to move quickly because the state of Missouri has held up their portion of the deal, even in a time where other projects may have taken precedence……

Northwest Arkansas land is still delivering returns, despite the volatile real estate market nationwide. Interested in land near Bella Vista or XNA Airport? Contact Highland Properties at NorthwestArkansasLand.net to see available land for sale…..

Property Assessment Taxes to Be Lowered on Northwest Arkansas Properties

It was announced this morning that Benton County Judge Dave Bisbee called a special session for members of the Equalization Board on Monday. According to the Daily Record, Bisbee is quoted as saying, “I was out on the campaign trail at the same time as Mr. Moutray (county property assessor) this summer, and to say that it got a little ugly from time to time about property taxes would be an understatement”.

Property assessments were mailed out on July 1, 2008 and owners were displeased when they found that their property had increased in value, amid a housing crisis and economic recession. Per Arkansas state law, assessments are made on a three-year reappraisal cycle. This year’s assessment is following good sales years, not the sales data of a down market year like 2008.

Moutray and Bisbee are asking the Equalization Board to reassess, or perform a devaluation, of residential properties to reflect 2008 home sales. The move was recommended by an University of Arkansas economist and Bisbee met with Area school officials and mayors as well as the Arkansas’ Assessment Coordination Department. All groups are all in agreement that lowering the values must be done. Bisbee claimed, “We owe the taxpayers of Benton County to do this because we know that the market has declined”. The move will affect 85,000 land parcels in Benton County. All devalued property will be residential, commercial property will not be considered.

The following decreases are to take place:

• Northeast Benton County - 6% decrease (including Gateway, Garfield, Pea Ridge and Avoca)
• Northwest Benton County – 3% decrease (including Sulphur Springs, Gravette, and Decatur)
• Southwest Benton County – 2% decrease (including Siloam Springs, Gentry, Springtown, Highfill)
• Southeast Benton County – 4% decrease (including Cave Springs, Lowell, Bethel Heights, Springdale, Elm Springs)
• West-central Benton County – 4.5% decrease (Bentonville and Centerton)
• East-central Benton County – 5% decrease (Rogers and Little Flock)
• North-central Benton County – 3% decrease (Bella Vista)
• Beaver Lake – 2% decrease

Changes will be mailed out starting July 1st.

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Northwest Arkansas Real Estate Listed "Among Healthiest in Nation"

The Morning News has reported that the Northwest Arkansas real estate market is “among the healthiest in the nation”, a good sign in a troubled economy.

Hanley Wood, a California-based research firm, has ranked the Northwest Arkansas area is #9 in the nation, based on fourteen economic indicators, including population trends, employment trends, pricing, affordability issues and building permits.

A local realtor claimed the Northwest Arkansas has “strong bookends” because the University of Arkansas and Wal-Mart are located in the area.

Realtors are still moving property, although at a slower pace than in the past few years, but the Hanley Wood indicators suggest opportunity as real estate prices have dipped slightly.

A local Northwest Arkansas realtor commented that the local real estate market is in its 30th month of decline and sellers are finally marking down their prices. The Northwest Arkansas area, listed as Fayetteville, follows Houston, Austin, Fort Worth, San Antonio, Dallas, Raleigh, Seattle, and Indianapolis. The area is followed by Washington D.C., Nashville, Denver, Charlotte, Wilmington, and Myrtle Beach.

Click here to read the entire article.

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XNA Airport to Get New Runway

It was announced that Northwest Arkansas Regional Airport (XNA) authorities have awarded the contract for a new runway at XNA Airport.

XNA has received a $10 million grant from the U.S. Department of Transportation for “an outboard taxiway-alternative landing surface” that will open up the airport. As a result, the new runway will be utilized while repairs are made to a section of the existing runway. Flights will remain on the regular schedule because of the new runway.

The Northwest Arkansas Regional Airport Authority Board of Directors reviewed bids and awarded a $6.3 million bid from Crossland Construction that was accepted unanimously. XNA Executive Director, Scott VanLaningham, called the bid “ a dream come true”.

The additional monies may be rolled into the second phase of the outboard “alternative taxi landing surface” and ground could be broken as soon as March. The timeline for he project is nine months.

Additional projects being entertained by the XNA airport include a drainage improvement system and the construction of an upper-level concourse that would expand the number of gates as well as expansion of a food court.

This is certainly good news in bad times. Northwest Arkansas, while not immune to the economic crisis, is still seeing significant growth, comparably to the rest of the nation. Visit NorthwestArkansasLand.net to see properties for sale near XNA Airport and other Arkansas properties for sale!

New Roads, Development for Northwest Arkansas...

In the wake of the economic downturn, new highways will be positive for growth and jobs in Northwest Arkansas. The newest highway being considered, is a possible toll road connecting Springdale to Bella Vista.

The proposed new highway would re-route traffic from U.S. 412. Currently, 35,000 vehicles a day use the road, which currently has 20 stoplights between Tontitown and Sonora. The road would be only the second toll road in Arkansas

The total cost is projected at $540 million. Mike Malone, executive director of the Northwest Arkansas Council stated “Nobody loves tolls, but I think we’re worse off not having the road…Just thinking through how you’re going to get $500 million, it’s going to be multiple sources, including tolls…It’s probably going to be part of how we get that project done.”

The Northwest Arkansas Regional Mobile Authority is considering payment options for the project. Arkansas is expected to receive over $350 million for highway construction and over $28 million for mass transit through the American Recovery and Reinvestment Act. How the money will be divided is yet to be determined.

Dick Trammel, the new Northwest Arkansas highway commissioner, has stated that he will make decisions after his first meeting February 25th in Little Rock.

Visit NorthwestArkansasLand.net to view properties for sale near XNA – Northwest Arkansas Regional Airport – and the newly developed Bentonville Industrial Park. Click here to view properties and land for sale in Northwest Arkansas.

Approval Granted for National Guard Expansion Near XNA

Last night, the Bentonville City Council gave the okay for the new Northwest Arkansas Armed Forces Reserve Center near Northwest Arkansas Regional Airport (XNA).

Construction on the $23 million, 100,000-plus square foot facility should begin within the next six months, and is slated for completion within the next year and a half. The Center will be part of the 20-acre, city-owned Bentonville Industrial Park near XNA.

The Northwest Arkansas Armed Forces Reserve Center will be home base to at least six Arkansas Army National Guard and Army Reserves units. The building will offer temporary housing and will also store necessary equipment. The consolidation of the units is expected to reduce overall costs. Armory buildings that are vacated, like the Bentonville Armory, will be dedicated as city government property and many will be used as community centers. The Bentonville Army National Guard armory will be deeded to the city to make way for an expansion of 8th Street. There will be additional lanes added from Walton Blvd to the I-540 interstate.

This is good news for Northwest Arkansas growth. Are you interested in properties in Northwest Arkansas? Check out northwestarkansasland.net to view properties for sale near XNA!

Reasons to Buy in Arkansas....

An article published by Chris Robertson of Majon International last year gave 7 Reasons to Buy in Arkansas. We think that they are even more relevant in the current economy….Why buy in the Natural State?

Click here to read the entire article. The seven reasons?

1. The property is undervalued.
2. The property taxes are low.
3. The state has unparalleled natural beauty.
4. The climate is mild.
5. There are budding private communities.
6. The landowners are often unique.
7. The financing is affordable.

Despite the global economic crisis, Arkansas has remained in a solid position of liquidity and growth….Use our blog to keep up with growth trends in Northwest Arkansas. We currently have properties available, starting at $25,000 an acre. Visit our website at northwestarkansasland.net to view all of our land plots for sale.

Arkansas Agency Lists Top Northwest Arkansas Areas for Growth

Lowell, Arkansas was named the #1 high-growth city in Arkansas, according to a list published by the Gadberry Group.  

The Gadberry Group is a Little-Rock company that ranks high-growth cities throughout the country.  The list, called the “8 for 2008”, listed Lowell at the #1 spot, Bella Vista at #4, and Bentonville at #6 in the report.

Recently, Lowell has focused on infrastructure rather than growth and many are predicting that Lowell will have a population increase in the near future.  According to the report, since 2000, Lowell has had a 40% increase in population since 2000 and a 51% increase in 2008 alone.  Additionally, the report states that the average household net worth is $415,000.  The sample area includes areas near Beaver Lake as well as areas north of Highway 12 that include high-end housing and an affluent population.  The company uses its own boundaries that are always changing.  It has been hired by retailers to determine areas of possible growth, create data and to watch changing areas.

Needless to say, many have questioned the source and its high numbers.  Larry Martin, the man responsible for The Gadberry Group’s ratings, has stated that “the geography was more inclusive than just the Lowell city limits…it includes areas that the census defines as part of the Lowell ‘Place’”. 

Check out our properties for sale at northwestarkansasland.net.  We have properties near the XNA airport and Hwy 12!  Visit us at NorthwestArkansasLand.net to see our properties for sale today!!

I-540 Expansion: Growth for Northwest Arkansas?

The Northwest Arkansas Regional Mobile Authority (RMA) voted on Monday to “leverage state stimulus funds to complete the Bella Vista bypass as an RMA toll road”. The road, which will extend I-540 through Bella Vista, is being explored as a toll road and has been planned for over a decade.

The total for the I-540 expansion is expected to cost $225 million. However, if it were to become a toll road, the road would have the potential of generating $100-$130 million in construction bonds. It would be the first toll road in the state. Additionally, many believe that the federal economic stimulus plan that will soon be voted on by the House of Representatives could also bring $80-$100 million for highway construction in Northwest Arkansas.

The potential toll road must be approved by the state Highway Commission or by a vote of the people of Benton and Washington counties.

Dick Trammel was sworn in on Monday as the new highway commissioner. Trammel has expressed urgency in gaining approval for the road so that Arkansas still receives funding from the Missouri Department of Transportation. The state has considered re-appropriating funds for the five mile stretch of the road that will lead to southeastern Missouri.

This newest project is the largest undertaking by the Arkansas Highway and Transportation Department. It is expected to take four years to build the bypass.

The new I-540 extension would mean great things for future growth in Northwest Arkansas, by allowing greater ease for commuting. Are you interested in land investments in Northwest Arkansas? Visit our site at northwestarkansasland.com to see the properties we have for sale in the Bentonville and Highfill areas!

Crystal Bridges Has Announced 2009 Schedule: Positive Development for NWA

The Benton County Daily Record ran an article highlighting the Crystal Bridges at the Massey and the exhibition schedule for the coming year. Crystal Bridges at the Massey opened in June 2007 at 125 W. Central Ave. The location serves as a temporary site until 2010 when the Crystal Bridges Museum of American Art is slated for opening.

From February 13th to May 3rd, the first exhibition will be called “Proof Positive: Master Prints From the Collection of Fisk University Galleries”. The exhibit will feature forty prints that portray African-American printmaking during the 20th Century. Artists featured will include: Romare Bearden, Martin Puryear, Elizabeth Catlett, James Wells, Hale Woodruff and Ted Jones. The works will date from the Harlem Renaissance to the present.

From May 16th to August 9th, the exhibit “Through the Needle’s Eye” will celebrate embroidery by featuring contemporary and traditional embroidery, quilting and needlepoint examples.

From August 21st to October 25th, “Harry Miller’s Vision of Arkansas” will showcase the Arkansas White River country through photographs taken from 1900 to 1910.

From November 6th to January 3rd, the museum will host “Draw Me a Story: A Century of Children’s Book Illustrations”, a collection of forty-three works by forty-one artists that displays over one hundred years of children’s stories and illustrations. There will be educational learning opportunities for the public during each exhibit.

The Crystal Bridges Museum of American Art is slated to be one of the most recognized and relevant museums in the world. Another sign of the positive economic development taking place in Northwest Arkansas. Are you looking for residential or commercial property? Check out our properties for sale at NorthwestArkansasLand.net!

Arkansas - Stimulus Plan Should Assist in Growth and Development

The Arkansas News Bureau reported this week “Arkansas Delegation in Step with Stimulus Plan”.

Governor Mike Beebe’s office has stated that the governor has personally spoken with President-elect, Barrack Obama, and “is pleased that infrastructure is a large component in Obama’s plan….but also wants to make sure Arkansas gets its share of proceeds”. Beebe wants to make sure that financially stable states, like Arkansas, are not left out of national bail-out monies issued by the national government.

Many are hopeful that the new plan will create jobs as well as to make improvements to the highways of Arkansas. Both Democrats and Republicans seem to recognize the urgency of the economic crisis because it is affecting everyone in some form or fashion.

Northwest Arkansas has fared far better than many other areas in the U.S. Keep checking our blog regarding economic development in Northwest Arkansas!!! The economy and development are still on the rise in Northwest Arkansas! Click here to view our incredible land deals in Northwest Arkansas!