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!
Monday, March 9, 2009
Sunday, March 8, 2009
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…..
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…..
Tuesday, March 3, 2009
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:
Changes will be mailed out starting July 1st.
Interested in land in Arkansas? Visit NorthwestArkansasLand.net to see agricultural and mixed-use properties for sale in Arkansas. We have properties for sale near XNA Airport!!!
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.
Interested in land in Arkansas? Visit NorthwestArkansasLand.net to see agricultural and mixed-use properties for sale in Arkansas. We have properties for sale near XNA Airport!!!
Saturday, February 28, 2009
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.
Interested in buying land in Northwest Arkansas? Visit NorthwestArkansasLand.net to see properties for sale near Northwest Arkansas Regional Airport (XNA)!
Thursday, February 26, 2009
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!
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!
Wednesday, February 18, 2009
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.
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.
Wednesday, February 11, 2009
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!
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!
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