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BELLA VISTA — The Walton family spent almost $48 million through land purchases in Bella Vista, according to public records.
Tom and Steuart Walton, co-founders of Runway Group, continue to invest in Northwest Arkansas through their real estate development branch, Blue Crane.
The brothers announced they purchased over 2,700 acres in Bella Vista in early May and brought the public together to hear ideas about what’s wanted for the land.
Public records show purchases included the 9.6 acres including the Sugar Creek Shopping Center for $24 million, 42.4 acres for $7.97 million, and around 1,926 acres from Cooper Communities for $15.49 million. These purchases account for 1,978 acres of the 2,700 the company said it acquired.
Two different limited liability corporations were used in the deals, totaling $47.46 million.
BVNV Land LLC completed the first two purchases in January and maintains the development rights to the former Cooper Communities land. West BV LLC completed the $15.49 million sale with Cooper Communities in May, according to Benton County public records.
Questions about what will be developed remain, but a Blue Crane spokesperson confirmed there will be a focus on outdoor recreation.
“As we consider our developments, we plan to bring in the community as part of that process,” said Tom Walton, co-owner and CEO of Runway Group, the parent company of Blue Crane, at a May 10 event for Bella Vista residents to meet Blue Crane developers.
“We believe deeply in Bella Vista’s tradition of connecting people to nature through cycling, golf, and outdoor recreation, and we are confident our investments will reflect that,” he said.
Two Blue Crane representatives attended a Bella Vista City Council work session on June 17 at the request of Mayor John Flynn.
Brenda Anderson, Runway Group’s chief strategy officer, answered most of the questions and identified Ethan Hunter, Blue Crane policy analyst, and herself as staff overseeing the development plans.
Anderson said at the meeting there are some plans for commercial development, as some of the property purchased is already commercial in nature.
“The initial work that we’ll do will be in those areas — not stepping out into new areas of the village,” Anderson said at the meeting.
A Blue Crane spokeswoman confirmed the company is conducting an infrastructure study to see what is possible with the land. It should take until the end of the year, she said, and plans will be shared in early 2025.
Site source: Lydia Fletcher, Northwest Arkansas Democrat Gazette
