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Northwest Arkansas Developer Troubles

cowbreath

By cowbreath
in Northwest Arkansas

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KJW Burg

KJW

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I was in Dallas this one time, sort of in the suburbs, and off in a distance the sky was all lit up. Where I was it was dark. It was a pretty neat thing to see. I don't know how this fits into this topic, but I thought I'd share a little somethin somethin.

You can see (the glow in the atmosphere of) the lights of D/FW from the south side of Atoka, OK. (I suspect one can see them even from atop Cavanal Hill or Rich Mountain in LeFlore County, OK in the Fort Smith metro area.) Two years ago we drove to Dallas in January under overcast skies and warm weather...south of Atoka you could see the big glow of D/FW lights and a "lesser glow", though brighter because they were nearer inside it of the lights of Sherman/Denison, TX.

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nwa_479 Whistle-Stop

nwa_479

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You can see (the glow in the atmosphere of) the lights of D/FW from the south side of Atoka, OK. (I suspect one can see them even from atop Cavanal Hill or Rich Mountain in LeFlore County, OK in the Fort Smith metro area.) Two years ago we drove to Dallas in January under overcast skies and warm weather...south of Atoka you could see the big glow of D/FW lights and a "lesser glow", though brighter because they were nearer inside it of the lights of Sherman/Denison, TX.

There ya go. That's what I was trying to say, but I couldn't really think of it. It was "glowing".

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Aporkalypse City

Aporkalypse

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I was in Dallas this one time, sort of in the suburbs, and off in a distance the sky was all lit up. Where I was it was dark. It was a pretty neat thing to see. I don't know how this fits into this topic, but I thought I'd share a little somethin somethin.

I live in NE Dallas about 15 min from downtown in an suburban-type area in city limits. It's never really "dark". You have to close your blinds at night to sleep. You can see the moon but rarely if ever see stars.

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andrewjensen Whistle-Stop

andrewjensen

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What's wrong with tall buildings? I love them and hope that Fayetteville will someday support them. It does not mean we will have to look like Dallas.

I don't think there's anything wrong with tall buildings. I just don't think the number and size of tall buildings should be a criteria for judging Northwest Arkansas as a great place to live and work.

In today's climate, you have to wonder if the Cosmoplitan or the EJ Ball building could be built with all the anti-tall building hysteria. Some people in Fayetteville act like the glacier went down Mt. Sequoyah and left all those houses there and they have a God given right to make sure no one else can live there. Sometime soon, Fayetteville is going to have to find a balance between business and smart planning. I don't think any town in Northwest Arkansas has gotten it right yet.

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mzweig Hamlet

mzweig

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It is all taken care of now. He sent someone to the courthouse to get them paid. I am not really sure why this is news.

It's just all part of the developer story. Like I said, my guess was that ol' John just forgot to pay this stuff. He can afford to pay these bills, I'm certain of that! He's just a bit overloaded.

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cocothief Hamlet

cocothief

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It's just all part of the developer story. Like I said, my guess was that ol' John just forgot to pay this stuff. He can afford to pay these bills, I'm certain of that! He's just a bit overloaded.

The article, IMO had a bit of a vicious tone to it. Sounded almost like a smear.

Perhaps he doesn't purchase enough advertising? *snicker*

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KJW Burg

KJW

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This is an interesting article that KNWA has linked to their website. It's about Little Rock's current woes with Alltel and Acxiom being sold and how that compares to NWA's growth. I guess the reporter didn't hear the doom and gloom talk around. Bloomberg Article

Fascinating article, Zman...thanks.

Also, it was interesting to read the article about Bentonville's Superior Building (the big building between I-540 and Bentonville High). The developers (I knew if the name "Flake" was involved the project was in good hands - that's an excellent old-line realtor in LR) say they're working on a "five year" leasing plan given the project's size.

What could bode not so well...this building is attracting vendors who want to consolidate their offices, which in turn could hit some other owners of smaller office complexes. Let's hope those Chinese, Indian, etc. vendors start coming to NWA.

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masons_dad1 Town

masons_dad1

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What could bode not so well...this building is attracting vendors who want to consolidate their offices, which in turn could hit some other owners of smaller office complexes. Let's hope those Chinese, Indian, etc. vendors start coming to NWA.

Wouldn't it be something if Wal-Mart moved their .com operations here and utilized the Superior Building for a call center/fulfillment center? Wal-Mart is really putting on the steam for their Wal-Mart.com sales and it sucks that their .com operations is in California.

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das450 Whistle-Stop

das450

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Growth Ventures owes IRS and Terminella sells Mountain Ranch

Massey Owes IRS $625,000 in Taxes

By Northwest Arkansas Business Journal Staff

7/30/2007

The liens just keep on coming for developers in Northwest Arkansas.

The latest big name to pop up in court filings is prominent developer Mitchell Massey of Fayetteville, who appears to have a date with the IRS.

On June 11, the IRS filed a lien against all properties and rights to property held by Massey for $625,569 in unpaid personal income taxes

Massey was out of town and could not be reached for comment.

In January he formed Growth Ventures LLC along with three other partners. Massey is vice president of Growth Ventures, which is currently managing about 25 projects.

(Business Section of Ark Dem)

LR company purchases 440-acre development

Fayetteville developer Tom Terminella and fellow investors in Reserve LLC have sold the 440-acre Mountain Ranch along Interstate 540 in Fayetteville.

The property was sold to Coco Mountain Ranch LLC of Little Rock, according to a warranty deed filed July 20 with the Washington County Clerk

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cowbreath Hamlet

cowbreath

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NWANEWS.com: Subdivision Slump

NWANEWS.com: Aspen Ridge Development Mess

This is how it is right now, and probably how it should be. Do we think the boom that has started this area is really slowing down now for good, or that our goals have been postponed during this adjustment? The thing I don't understand is why so many projects were started in the past four years including new urbanist designs and condo projects when the market in the entire country and not just our area was overbuilt. Prices were getting too high and houses were being built at a pace not necessitated by demand. Even in our area the signs were evident long ago. Anyways populations will increase and the area isn't dead nor will be, but I'm just surprised at the decision making of the masses with money.

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andrewjensen Whistle-Stop

andrewjensen

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latest on:

Dixie:

http://www.arkansasbusiness.com/article.as...05&view=all

Massey:

http://www.arkansasbusiness.com/article.as...21&view=all

Terminella vs. MNB

http://www.arkansasbusiness.com/article.as...11&view=all

more Terminella

http://www.arkansasbusiness.com/article.aspx?aID=99385

Barber/Legacy/East Meets West

http://www.arkansasbusiness.com/article.aspx?aID=99386

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KJW Burg

KJW

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concrete crews are out at the BF now. next thing we'll see will be walls going up on the 60,000 SF retail center.

These are interesting quotes at article's ends:

Massey:

"This market has so much to offer. It'll see this downturn come and go and it will come back and those who've learned from it will be successful," he said.

Terminella (by the editors):

In a news release announcing his departure from the law firm he founded in 1994, Cauley said he planned to focus on his other business interests.

Making a splash in the Northwest Arkansas real estate market appears to be one of them.

We expect a continuing trend of well-financed, out-of-market investors taking advantage of low-price opportunities in Northwest Arkansas.

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