Springdale developer Rich Richardson, president of Can-Ark Diamond Realty Holdings LLC, said he will break ground in November on a new 340-unit, multifamily community on Arkansas Highway 102 in Centerton.
The development will be called Watercolor and be located just to the west of Greenhouse Road.
Richardson recently acquired the 21-acre property for $2.27 million ($2.49 per SF) from a group of investors that included Bob Laman, Roger Boskus and Jim von Gremp.
Jordan Jeter with Flake & Kelley Commercial in Springdale brokered the deal.
Centerton planners have approved Richardson’s planned unit development (PUD) proposal, subdividing 15.5 acres for the multifamily development and 5.5 acres for a commercial office/restaurant/retail use, anchored by a 25,000-SF retail/office building.... [ MORE ]