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.

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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!