College Avenue Developments

[comreguy]

Does anybody know what is proposed for the corner of Drake and College?  There's been some movement there combining lots and surveying.

 

 

Based on plans that I've seen at the city, O'Reilly Auto parts

[wmr]

Now that the Arvest on College Avenue has moved down to the corner of Towship and College, I wonder what will happen to their former location.  Its a great spot, boundaried by three streets.  

[comreguy]

Now that the Arvest on College Avenue has moved down to the corner of Towship and College, I wonder what will happen to their former location.  Its a great spot, boundaried by three streets.  

 

It is in a floodplain so anything that requires remodeling of the building will be tough.

[wmr]

It is in a floodplain so anything that requires remodeling of the building will be tough.

 

That's interesting information.  I knew that parts of that area were in flood plain.  I thought that included the old Malco which was significantly remodeled to become World Gym.  It seems like some remodeling could be done there, but scrape and redevelopment would be the bigger problem.  The yoga studio behind it had to build their building up a few notches.  The new Montessori school in Colt Square had to fill with red clay a foot or two.

[comreguy]

That's interesting information.  I knew that parts of that area were in flood plain.  I thought that included the old Malco which was significantly remodeled to become World Gym.  It seems like some remodeling could be done there, but scrape and redevelopment would be the bigger problem.  The yoga studio behind it had to build their building up a few notches.  The new Montessori school in Colt Square had to fill with red clay a foot or two.

 

The city is working under new guidelines that require that any building within a certain type of floodplain can only be improved by a max 50% if the building valuation, inclusive of exterior and interior remodeling. Plus, additional flood insurance must be purchased by any purchaser of the property. I believe the World Gym property benefitted from new FEMA maps being drawn that pulled it somewhat out of the main floodplain. 

[wmr]

The city is working under new guidelines that require that any building within a certain type of floodplain can only be improved by a max 50% if the building valuation, inclusive of exterior and interior remodeling. Plus, additional flood insurance must be purchased by any purchaser of the property. I believe the World Gym property benefitted from new FEMA maps being drawn that pulled it somewhat out of the main floodplain. 

 

Thank you for the explanation.  

Here is a link to the Fayetteville flood plain information.  According to this, both Arvest and the World Gym building are in the same designation.  http://gis2.accessfayetteville.org/GISPage/Flood_Map/

[comreguy]

Thank you for the explanation.  

Here is a link to the Fayetteville flood plain information.  According to this, both Arvest and the World Gym building are in the same designation.  http://gis2.accessfayetteville.org/GISPage/Flood_Map/

 

Thanks for looking it up. There has been activity on the Arvest and it was under contract to a dentist, but the contract was dropped due to limits placed on redevelopment from the floodplain status and the "hair" that goes along with purchasing a floodplain property. Value is severely diminished, so Arvest will need to sell cheaply or find a use that doesn't need to remodel.

[wmr]

Thanks for looking it up. There has been activity on the Arvest and it was under contract to a dentist, but the contract was dropped due to limits placed on redevelopment from the floodplain status and the "hair" that goes along with purchasing a floodplain property. Value is severely diminished, so Arvest will need to sell cheaply or find a use that doesn't need to remodel.

 

I would imagine Arvest will put a non-compete in any contract, stating that a bank cannot operate in that location.  I have my hopes up for a decent restaurant.  

 

It still doesn't make sense to me how the owners of the old Malco were able to extensively renovate that space into what it is now under the same designation.  They had to pour lots of concrete to level the sloped flooring, for example.  I guess the building value was a lot higher than the Arvest.  It seems like a great spot for a more intense use than for office.  I would imagine a quick demo of the interior would make it virtually blank space and feasible for whatever type of use a new owner would want.

 

It will be a shame if some technicality on flood plain issues hampers the use of that property significantly.  An interior remodel won't change the tendency to flood.  I suppose it would be more difficult to insure, though.  

[comreguy]

I would imagine Arvest will put a non-compete in any contract, stating that a bank cannot operate in that location.  I have my hopes up for a decent restaurant.  

 

It still doesn't make sense to me how the owners of the old Malco were able to extensively renovate that space into what it is now under the same designation.  They had to pour lots of concrete to level the sloped flooring, for example.  I guess the building value was a lot higher than the Arvest.  It seems like a great spot for a more intense use than for office.  I would imagine a quick demo of the interior would make it virtually blank space and feasible for whatever type of use a new owner would want.

 

It will be a shame if some technicality on flood plain issues hampers the use of that property significantly.  An interior remodel won't change the tendency to flood.  I suppose it would be more difficult to insure, though.  

 

I think timing played into that as well. My understanding is that several of the restrictions that Fayetteville now enforces were only brought into existence recently. Another example is the "Shorty Smalls" building in N. Fayetteville. There has been significant interest in that property and it should have traded, but no one can redevelop to the level that it needs or is interested in owning a property tainted with a floodplain designation.

 

Regarding Arvest, only passing along info that I am aware of. I just know that I would not want to own a property in a floodplain in Fayetteville.

[TRB]

If it hasn't flooded with some of the many rain events we've had since the major flooding associated with the tropical storm a few years back, it isn't going to flood. The TS put Ark 16 under for half a day at the West Fork of the White bridge.

[comreguy]

If it hasn't flooded with some of the many rain events we've had since the major flooding associated with the tropical storm a few years back, it isn't going to flood. The TS put Ark 16 under for half a day at the West Fork of the White bridge.

 

I'm with you, but try convincing your insurance company and FEMA of that.

[wmr]

I think timing played into that as well. My understanding is that several of the restrictions that Fayetteville now enforces were only brought into existence recently. Another example is the "Shorty Smalls" building in N. Fayetteville. There has been significant interest in that property and it should have traded, but no one can redevelop to the level that it needs or is interested in owning a property tainted with a floodplain designation.

 

Regarding Arvest, only passing along info that I am aware of. I just know that I would not want to own a property in a floodplain in Fayetteville.

 

That makes sense.  A lowered value, and having renovation limits pegged to a percentage of that lower value.  It sounds like a property devaluation spiral.  

 

The World Gym building has a part of the stream flowing underneath the actual building IIRC.  

[TRB]

That makes sense.  A lowered value, and having renovation limits pegged to a percentage of that lower value.  It sounds like a property devaluation spiral.  

 

The World Gym building has a part of the stream flowing underneath the actual building IIRC.  

 

The new FEMA maps are a mess thrust upon us by the aftermath of Katrina, Yet, there Nawlins still sits, under sea level.

[TRB]

Lewis Automotive has moved their truck inventory to the old Buick/GMC/Mercedes dealership. Thought Superior group owned that, maybe Lewis is leasing now.

[JamesE]

A new two-acre "teaching farm" is coming to College Avenue adjacent to Ozark Natural Foods.  It seems like an odd use of College Avenue frontage space to me; I imagine it has something to do with environmental remediation of the old gas station site, but it will definitely help beautify the area.

 

http://www.fayettevilleflyer.com/2013/11/05/apple-seeds-inc-plans-teaching-farm-on-college-avenue/

[wmr]

That proposal doesn't include the gas station.  Its the property behind the gas station.  

[wmr]

What is happening at Evelyn Hills is kind of interesting.  First, the second phase of town homes (Abshier Heights) behind the shopping center are almost complete.  A third phase is planned, and when they are complete, there will be 21 new housing units basically right on top of /behind Evelyn Hills.  

 

On the lot adjacent to the north, Apple Seeds is going to build their demonstration/teaching farm.  

 

While the center itself is not mixed-use, the area immediately around it is evolving so that it will operate more like a mixed-use development.  There are pass-thru sidewalks at sections of the building leading up to Hillcrest and the existing neighborhood and people already walk there to do some shopping and use the fitness center.  

 

I think long-term that site could support a small apartment structure or some mixed-use buildings simply because of its proximity to downtown, elevation/views, and access to services and retail.  As UAMS-Northwest grows its student population, I could see apartments there being feasible.    

[TRB]

If UAMS grows, a well designed Apt style housing unit should be built on the southeast corner on the intersection there. Stellar views of Old Main. They could buy up those few old businesses along college on the east side to elongate and provide the area for the parking deck with some retail.

[wmr]

The Days Inn signage has all been removed and a "CVS Coming Soon" sign is out front at College & Township.

[wmr]

Med Express is renovating the former Carpet One, Panda, location on College Ave:  http://www.fayettevilleflyer.com/2014/02/27/medexpress-plans-walk-in-clinic-on-college-avenue-in-fayetteville/

[TRB]

That was not the Coy's location. It was where the strip mall is by the Sonic. That was a buffet style steak house (Western Sizzler) in the beginning. LA Huerta was a Bonanza.

[wmr]

That was not the Coy's location. It was where the strip mall is by the Sonic. That was a buffet style steak house (Western Sizzler) in the beginning. LA Huerta was a Bonanza.

 

My bad.  Thanks.

[wmr]

I heard Powerhouse Fitness is closing.  Is this true?  I wonder if ONF will take over that space and make the store larger.

[Mith242]

I heard Powerhouse Fitness is closing.  Is this true?  I wonder if ONF will take over that space and make the store larger.

I've heard rumors of ONF taking over more space in the past.  Just wonder if it's a good idea for them to extend themselves when we keep hearing that Whole Foods is supposedly coming to Fayetteville at some point.

[TRB]

I think it's foolish.  They, sadly, will not withstand a toe to toe battle with Whole Foods. They'll have to adapt and that shouldn't require more space.