FAYETTEVILLE, Ark. — A site approved for future student housing near the University of Arkansas in Fayetteville has been sold for $4.6 million.
Trinitas Ventures, a development firm out of Indiana, is calling the complex 612 Center Street, which is also the address in Fayetteville.
The housing complex site is over a single acre located at the intersection of W Center Street and N Gregg Avenue.
The location has access to The Rambles and the trail and bus system that allows students to walk, bike, bus, and scooter to the nearby university campus and entertainment, Trinitas said on the project's website.
"The development is to be professionally managed and maintained with landscaped edges enhancing the experience of the existing trail and ramble along the south and east site boundaries. During the project’s construction, existing utilities that run through the site will be updated improving services for the tenants of 612 Center St as well as for neighbors," the website says. "Along with updating utilities, the development will provide a water fountain and bike fix-it station for the publics use along the Frisco Trail."
According to county records, the 1.21 acre property at 612 W Center St. was purchased for $3.25 million, and then two ajoining properties for $1.43 million each, totaling $6.1 million.
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