BELLA VISTA, Ark. — The Community Development Northwest Arkansas (CDNWA) broke ground Tuesday morning on a new apartment complex in Bella Vista that aims to expand affordable housing.
"Affordable housing is a big part of the story, and also housing options are a big part of the story," Executive Director for CDNWA Casey Kleinhenz said. "There's a lot of single-family product in Bella Vista, and not a lot of for rent apartment product."
CDNWA is a nonprofit organization that "provides needed nonprofit development expertise in Northwest Arkansas," according to its website.
Cottage Lane Village Apartments will be a 40-unit, mixed-use development on 2.69 acres, CDNWA said. The $8 million project will be located on Highway 279 and Lancashire Boulevard near the Boys and Girls Club and the new Bella Vista District Court.
Eleven of the units will have "steeply discounted rents" reserved for qualifying households, CDNWA said. In addition, the group adds that most households will also qualify for moderate discounts from market rents.
Bella Vista Mayor John Flynn, who attended the groundbreaking ceremony said as Northwest Arkansas continues to grow, the need for affordable living does as well.
"It's grown so much and become so desirable that it's pushed the prices up quite a bit," Flynn said. "It's important to have places where people can afford to live. A lot of times it's waitresses, firefighters, police, all kinds of different occupations people have, they still may need affordable housing."
CDNWA said this development is the first new multi-family community in Bella Vista constructed in many years.
Construction on the project is expected to be finished by the end of 2025.
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