Searcy Upgrades Infrastructure for Chance at New ‘Power Center’ for Shopping

Public, private and public-private developments representing tens of millions of dollars in construction are in motion in Searcy. Three projects highlighting each category alone tally more than $42 million.

The biggest is a $30 million menu of municipal construction work supported by a 1.5 percent sales tax. The 10 line items are part of an eight-year plan to upgrade city infrastructure, facilities and services projected to cost $51.2 million.

In a public-private effort, civic leaders hope that the third time proves to be the charm for a proposed retail development on the eastern edge of Searcy, a project that has drawn interest since 2011.

Last summer, the city agreed to provide about $2 million to help pay for site improvements to support the Searcy City Center at the southwest corner of Beebe Capps Expressway and U.S. 67-167.

“We are committed to do that and will do that, but not until they begin construction of the shopping center,” said Mark Lane, city engineer.

Projections indicate the city would recoup its infrastructure investment in five years through increased sales tax revenue generated by the new stores.

The tenant roster includes a 55,000-SF Hobby Lobby, a 20,000-SF T.J. Maxx, a 12,500-SF Petco, a 10,000-SF Shoe Carnival and a 10,000-SF Ulta Beauty.

First-phase construction of the power center is estimated at $11 million. Plans envision the 25-acre site as home to a 108,000-SF center plus additional space on six outparcels. More land for a smaller second phase and more outparcels are on the drawing board.

“There’s a ton of interest on the outparcels,” said Drew Holbert, vice president of brokerage with the Little Rock office of Colliers International, which is marketing the outparcels. “But until they know the big development is happening, they’re not wanting to talk about making a deal. That will change when dirt starts turning.”

Carter Cooper, the point man on the proposal for Capital Growth Buchalter Inc. of Birmingham, Alabama, couldn’t be reached for comment.

“It’s still ongoing and that sort of thing,” said Buck Layne, president of the Searcy Chamber of Commerce. “They’re talking about starting construction in April now. That’s the last update I have.”

The Robbins Sanford Mercantile in downtown Searcy comes under the heading of something old made new. The $1.2 million renovation of the 108-year-old building at 118 N. Spring St. is nearing completion.

“It’s been a humongous project with it being an old building,” said Mat Faulkner, president and creative director of Think Idea Studio. “We’re pushing hard to get the furniture moved in by the end of this month. We’re shooting for a March 21 grand opening.”

Faulkner’s 10-member advertising firm is moving into the building as part of converting the second floor into office space. Joining Think Idea Studio upstairs is the Edward Jones investment office of Robert Ross, and another slot is for rent.

Downstairs is home to Irby Dance Studio, the Robbins Sanford Grand Hall events center and part of the adjoining operations of The Boutique.

The mezzanine level is gone in favor of transforming the former retail establishment into a two-story, 20,000-SF mixed-use project.

“The building itself has huge significance, not just for Searcy but the region,” Faulkner said. “It was like the Wal-Mart of its day. We’re just tickled to death to retain as much of the original building as we could.”

He bought an 81 percent stake in the project for $535,000 in August 2014 from Stuart Dalrymple, a local real estate businessman who started the redevelopment ball rolling.

Dalrymple explored the idea of developing apartments upstairs to complement businesses below but couldn’t make the numbers work.

“Retaining as much of the history as possible while adding the modern to it, that’s been the challenge,” Faulkner said.

Touted as the largest mercantile between St. Louis and Little Rock, Robbins Sanford once offered carriages as part of its wide array of merchandise, building them on a second floor serviced by a freight elevator.

Public Sector
The three largest line items funded by Searcy’s eight-year tax plan are $12 million in street work, $9 million in drainage improvements and $5.1 million for a new pool complex, which should be finished by late summer. There’s discussion about building a new library on the site of the current city pool.

Some of the street and drainage work is in conjunction with the Arkansas Highway & Transportation Department completing a western loop around Searcy. The first piece of the project, a 5-mile extension of Highway 13 north from Highway 267 to Highway 36, opened last summer. Price tag: $16.4 million.

A 4.2-mile stretch from Highway 16 north to Judsonia should be completed in the first quarter of 2018 at a cost of $16.2 million. The $11.4 million middle portion, 3.7 miles between Highway 36 and Highway 16, is expected to open next summer.

In addition to helping traffic flow, the loop project will open new possibilities for park development along the Little Red River, as well as other recreational options.

“Searcy has a lot of really great things going for it,” said Dalrymple. “We’re trying to focus on what we do have. If someone wants to come here and bring jobs here, what does Searcy have to offer in terms of quality of life?

“We’re trying to put everything in place where we can bring jobs to this community to help it grow. All these other things are pieces that help us promote the city and be progressive.”

Searcy Building Permits

^*Includes new, expanded, renovated and remodeled retail, office, warehouse, industrial and healthcare space.
^**Includes new homes and residential additions, renovations and remodels.
^#Includes K-12 and college construction.
Source: City of Searcy