Mia Rose Holdings Secures $24M for Luxury Community
Construction is scheduled to begin in the third quarter.
The Junction at Shiloh rendering. Image courtesy of Rosemann & Associates
Mia Rose Holdings LLC has closed on the land acquisition and loan for The Junction at Shiloh, a 177-unit luxury multifamily community in Fayetteville, Ark. The developer plans to break ground this year, with the delivery expected in 2024.
Southern Bank provided $24.2 million in financing for the development, according to public records. Washington County records show that the developer paid approximately $1 million for the site.
Rosemann & Associates serves as the main architect, with The Engenuity Inc. providing the MEP engineering services and Crafton Tull the civil engineering services. The Kimbel Mechanical is the MEP contractor, while the sitework contractor is Oelke Construction. Upon completion, the community will be managed by Asset Living.
The Junction at Shiloh will encompass four buildings with studios, one-, two- and three-bedroom floorplans ranging between 628 and 1,291 square feet. The units are set to feature washers and dryers, stainless steel appliances, energy efficient mechanical and electrical systems, premium lights and plumbing fixtures. The common-area amenities will include a swimming pool, a fitness center, a business center, coworking spaces, green gathering areas and professional landscaping.
49 Growth Plan
The development is located on the North Shiloh Drive at the Stephen Carr Memorial Boulevard exit, along Interstate 49. The community will rise in an area with several dining options, retail centers and green spaces. The University of Arkansas and VA Medical Center are within 3.5 miles from the site.
The Junction at Shiloh marks Mia Rose Holdings’ fifth community as part of its ‘49 Growth Plan’. The company plans to create approximately 1,000 units of multifamily housing to support the region’s growth.
With vacancy rates in the Fayetteville and surrounding areas at historically low levels, Mia Holdings’ additional projects in the region include communities in Springdale (234 units), Lowell (152 units), Rogers (226 units) and Bentonville (200 units). Mia Rose Holdings has recently broken ground on The Junction of Scottsdale, a 226-unit luxury community in Rogers, Ark. Rosemann & Associates provides the architecture services for the $55 million project.
