Northwest Arkansas Democrat-Gazette
Griffin investment in Fort Smith ‘worth it’
Somewhere along the way Rick Griffin lost count of what Griffin Properties has invested in downtown Fort Smith development.
“Gosh, I don’t know,” Griffin said in discussing the company’s latest project. “It’s been worth it. I know that.”
Griffin Properties, founded by Griffin’s father, Richard, has been building and renovating in downtown Fort Smith since the 1970s. Their latest project is an approximately $3 million renovation of six buildings along the downtown’s main drag, Garrison Avenue.
What is known as Garrison Pointe West will be a mixed-use development that will include five units of commercial space for retail or office. Those units will range between 1,000 and 1,300 square feet and the rest
will be used for apartments.
Griffin Properties announced the project a little less than a year ago. Construction began last week and it’s set to open this fall, likely in November.
This is hardly, as noted earlier, the first time Griffin Properties has invested downtown. Garrison Pointe opened in 2012 and includes a gas station, liquor store and what locals say is the first downtown market of note in nearly 50 years.
Garrison Pointe West is notable because it includes a much- needed housing component. City leaders are excited about the prospect of getting additional folks living downtown. If you’ve been paying attention to Bentonville, you know that town can relate to the excitement generated in Fort Smith by the commitment to bring additional residential development downtown. ERC Cos. broke ground on a mixed-use project in Bentonville earlier this month that one Bentonville city official said provided “instant credibility to what we’re trying to accomplish.”
Lest you think that’s overstating the case, consider residential developments create more of a 24- hour environment in an area of town. Now, instead of the end of the workday signaling the end of activity downtown, there is extended life for restaurants and retail options.
Unique to the Garrison Pointe West project will be about 2,000 square feet of space that runs through the middle of the building and can be used by apartment residents or rented as an event space. Decorating the area will be photos and other means of telling the story of Fort Smith.
Further development downtown, particularly along the banks of the Arkansas River, will likely be spurred by the U.S. Marshals Museum. A groundbreaking is scheduled for September and the museum has a 2017 completion date. Fundraising is ongoing.
Federal and state tax credits have served as a carrot for developers interested in improving Fort Smith’s downtown by saving existing structures. The opening of the more than 52,000-squarefoot, $50 million museum is viewed as another potential lure for developers looking to invest downtown.
Keep an eye on the riverfront area in the coming years. Locals see the area as a prime spot for additional development with possibilities ranging from corporate offices to retail, residential and restaurants.
“Our community wants to see some improvement along the riverfront and the museum will help further anchor downtown Fort Smith as a desirable place,” said Griffin, who is vice chairman of the U.S. Marshals Museum board. “It should have a real positive impact. I think it will encourage others to invest.”