Written by Arkansas Real Estate
This week we had a chance to catch up with Daniel Hintz, Executive Director for Downtown Bentonville Inc. or as most of us know him "Downtown Daniel". Downtown Bentonville has undoubtedly become one of the most vibrant areas in all of Northwest Arkansas. The energy that is felt through their community events, such as, First Fridays on the Square, the Saturday Farmer's Market, and the amazing trails and arts district really offers something for everyone.
We were so excited to have Daniel come share more with us and how Downtown Bentonville Inc. is continuing to grow and flourish.
Downtown Bentonville is certainly on a lot of radar screens for investment right now. The 1,765 acre downtown district currently has a 3% vacancy rate in both commercial and residential sectors and there has been significant activity in the single family housing market. Property values continue to progress updwards, and will most likely continue that trend as more quality product comes into the high demand market. Restaurant sales continue to remain steady, with an estimated $10 million in 2012 food sales, up over 1000% since 2003. Retail is just now really gearing up with expanded offerings opening over the past two years. With limited space, however, it has been difficult to find placement of additional retail. This opens enormous opportunity for some new builds. The foundations of downtown are strong, with over 1 million visitors to Crystal Bridges Museum of American Art, downtown events that attract an estimated 120,000 people per year, national buzz, 21c Museum Hotel and the updated Walmart Visitor Center.
What gives downtown Bentonville's its vibrancy?
A comprehensive master plan driven by strategic municipal and private market investment and fueled by focused tactical implementation is key to so much of downtown's success. The downtown experience drives the value and the district has truly become the crossroads of Bentonville's culture, community and commerce.
New residential development, municipal capital improvements, public events, restaurants, retailers and people. The creation of the Art District and the Market District.
The Arts District is located in the corridor between SW B St. and S. Main, between SE 4th and SE 6th Streets. This intent of establishing this district is to cultivate a high concentration of art and cultural facilities and programs.
Market District (Culinary Arts and Food District)
The Market District includes the industrial areas of the Tyson Plant, Kraft Plant, and Ice House. The focus of this study area is to concentrate local food businesses, organizations, and distribution facilities, including wholesale, retail and educational elements
We have multiple events happening from now until the end of the year.
Check them out at http://www.