Several neighborhoods in Northwest Arkansas, particularly in Rogers and Springdale, have remained under the radar for many homebuyers and investors. However, upcoming zoning changes could make these areas more attractive for development, potentially leading to significant increases in property values over the next 12 to 18 months.
Rogers: Potential Growth Along Highway 71B and Hudson Road
In Rogers, neighborhoods along Highway 71B (8th Street) and Hudson Road are on the brink of transformation due to proposed rezoning efforts. Historically a mix of residential and light commercial properties, these areas are being targeted for higher-density residential and mixed-use developments.
Highway 71B Corridor: This central stretch of Rogers is slated for redevelopment that includes more multi-family housing and mixed-use buildings. The city’s planning commission is moving towards rezoning parts of this corridor to support these new developments, which could drive up property values as demand for centrally-located housing increases.
Hudson Road: Located just north of downtown Rogers, Hudson Road is another area undergoing potential changes. The city plans to rezone this area to encourage the development of residential properties alongside retail spaces, fostering a more walkable and vibrant community. These changes could attract developers and homebuyers looking for affordable properties with strong growth potential.
Springdale: Changes Along Highway 112 and Elm Springs Road
In Springdale, neighborhoods near Highway 112 and Elm Springs Road are also expected to benefit from similar zoning changes aimed at encouraging growth.
Highway 112 Corridor: This road, which runs parallel to I-49, is under consideration for significant zoning changes. These adjustments would allow for more residential developments near the intersections of Don Tyson Parkway and W Sunset Avenue. Areas that were previously low-density residential or agricultural could see new housing developments, likely increasing property values as demand grows.
Elm Springs Road: Particularly near the intersection with I-49, Elm Springs Road is another neighborhood poised for change. The city’s plans to rezone parts of this area to support mixed-use developments are expected to attract new housing and commercial projects. Given its location near major highways and Springdale’s expanding commercial areas, this neighborhood could see increased interest from buyers and developers.
The proposed rezoning in these neighborhoods is a response to Northwest Arkansas’s rapid population growth and the growing need for diverse housing options. By allowing for higher-density developments and mixed-use projects, local governments aim to create more vibrant communities that can accommodate the increasing population. These changes are anticipated to lead to increased demand for properties, driving up prices as more people move to take advantage of the new amenities and housing options.
For those looking to invest in Northwest Arkansas real estate, now might be the right time to consider these undervalued neighborhoods. With zoning changes on the horizon, property values in these areas could rise as new developments come to fruition. Buyers who act now might be able to secure properties at lower prices and benefit from future growth as these neighborhoods evolve.
However, it’s important to note that these changes are contingent upon the cities of Rogers and Springdale approving the proposed rezoning plans. Investors and buyers should monitor local government decisions closely to stay informed about these potential developments.
Sources:
- Northwest Arkansas Regional Planning Commission
- City of Rogers Planning Commission Reports
- Springdale Planning and Community Development Updates
Business Summit
Collier & Associates is excited to announce our first-ever C&A Business Summit, taking place on October 17th.
This summit will gather change-makers across Northwest Arkansas, including business leaders, economists, marketing and branding professionals, real estate experts, and more, all united in our mission to shape a better future for NWA.
Our distinguished lineup of guest speakers features Mervin Jebaraj, Director of Economic Research at the University of Arkansas, Jordan Wright, Founder and Owner of Wright’s BBQ, Graham Cobb, the visionary behind the “Because Bentonville” economic development project, Ashley Knight, Chief Operating Officer at Harvest Group, and Nelson Peacock, CEO of the NWA Council.
Registration opens on September 1st—mark your calendars and join us for this impactful event.
NWA Real Estate Market Update
Who is Relocating to NWA?
Arkansas, has historically been balanced in inbound and outbound migration, it’s recently become a more prominent destination for movers, highlighted by recent reports from U-Haul and United Van Lines. Despite a 6% decrease in U-Haul trailers and trucks bound for Arkansas last year, the state still saw a net gain due to a 12% drop in outbound moves. In national rankings, Arkansas placed 4th in United Van Lines and 17th in U-Haul data, with United Van Lines reporting 60.2% inbound moves for Arkansas, the highest since 1978.
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