Moses Tucker joins 2 firms in housing project close to UA

Moses Tucker Partners of Little Rock announced Monday a collaborative effort with two Colorado-based commercial real estate firms to develop a multi-family housing project less than a mile from the University of Arkansas campus in Fayetteville.

The Little Rock company, one of the largest development, commercial brokerage and management firms in Arkansas, says it has acquired a 23-acre site that is a quick walk from the campus and will have access to adjacent biking trails. Ownership is a joint venture with Denver-based C&A Cos. and Equity Partnership Holdings (EPH) – which has offices in Denver, Charleston, S.C., and Newport Beach, Calif.

The Resort at Markham Hill is projected to be about a $130 million investment. “We’re going to build, in two phases, a high-end, millennial-driven multi-family project,” Chris Moses, president and chief executive officer of Moses Tucker, said Monday. The site is near the intersection of Wedington Drive and Interstate 49.

The first phase of about 300 units should begin site development in the spring and open to residents in about two years, Moses said, adding that the second phase also will have about 300 units. The development will offer upscale amenities, including a fitness center, yoga studio, two swimming pools and outdoor entertainment areas.

“We’re really trying to promote walk-ability,” Moses said.

Apartments will start at about 650 square feet, and the largest will be roughly 1,300 square feet, though much of the specifics are still being put together. “We should have a final plan by December,” Moses said.

The project will help alleviate the housing crunch in Northwest Arkansas, which for most of this year has been one of the most dynamic markets in the region that also includes key metro areas such as Little Rock, Louisville, Memphis and St. Louis, according to statistics from the Federal Reserve Bank.

“This will help with the squeeze U of A has on their housing, but we’re not doing a prototypical student housing development,” Moses said, adding that the target market is the millennial generation: generally those under age 40. “This will be a higher-end product for the area.”

EPH is a national privately held real estate investment company that focuses on acquiring multi-family investment properties. Since 2021, the company has acquired more than 30 multi-family properties in nine states, and 14 of those properties are in Arkansas.

“EPH has invested heavily in Arkansas real estate over the past few years, and we are excited to expand our footprint to the Northwest Arkansas market,” Nick Forss, principal at the company, said in a statement. “The strong growth potential in the area makes our investment a smart choice for EPH investors.”

Moses Tucker will lead development and manage the property. The commercial firm has properties across Arkansas and other markets valued at more than $1 billion and has 11.2 million square feet of commercial space under management. The company also has a branch office in Bentonville.