The Greenwood School District will gain students and property tax revenues with the Fort Chaffee Redevelopment Area residential and commercial development, some of which is near completion, School Superintendent Kay Headley told school board members Thursday.
"It’s an exciting time, and I think over the next five to 10 years, you’ll see an amazing amount of development," Headley told the board.
Headley said she thinks it important for board members to keep all the development within the southern redevelopment area designated to the Greenwood district in mind as it plans for the district’s future.
The northern portion lies in the Fort Smith School District, said Paul McCollom, Greenwood School Board and Fort Chaffee Redevelopment Authority board member.
According to FCRA information, development underway or slated to begin within the Greenwood district is:
• Stoneshire at Chaffee Crossing, a 47.5-acre development by Shire, which will break ground this month. Phase one calls for 120 luxury estate-style homes on large lots with a potential multi-family development in phase two.
• The Reserve at Chaffee Crossing, a 40-acre luxury multi-family development by MR Capital Partners. Utilities are installed and groundbreaking is planned for the summer.
"They are planning 468 units and those people probably will have children," Headley said.
• Liberty Rose Apartments by Liberty Rose, a five-acre multi-family development for which 75 units are anticipated. The project, still in preliminary planning, is next to a site at which the Greenwood School District wished to build a new elementary school.
In March 2010, for the second time, Greenwood district voters declined a property tax increase to fund construction of the proposed school. District officials said then that the school was needed to cope with current and future enrollment growth. District officials reconfigured Greenwood’s schools to cope with the growth the district already had.
• Construction is slated to begin this month for Affinity Chemical, an aluminum sulfate refinery.
• Construction has begun for an Arvest Bank ATM location and probable branch bank, McCollom said.
• Ken Shollmier/RJ Properties, a 66-plus acre commercial/retail development is in the preliminary planning stage.
• Massard I49 Properties, a 20-acre commercial/retail development is in the preliminary planning stage.
McCollom said bids have been let for the new Interstate 49 and concrete pouring should begin soon. Furthermore, he said, a four-lane highway is planned eventually from the Arkansas 22 interchange through Chaffee Crossing.
• The developer of The Reserve at Chaffee Crossing plans RUM Inc., a 40-acre commercial/retail development.
• Old Dominion Freight Lines, a truck freight facility, will open this fall.
• Phoenix Metals, a steel fabricator, will open this fall.
• A Southpointe Assembly of God is planned.
• Custer Colley will be a heavy commercial/retail area.
• Maynard Crossing will see a large grocery store on 20 acres.
• Rock Landing will be a 40-acre commercial development.
• Rausch Apartments will have 543 units built in three phases, starting with 140 units, Headley said.