A developer on Thursday announced plans to transform Conway's former airport into a 150-acre retail development with shopping, dining, hotels and office space.
Jim Wilson & Associates, LLC of Montgomery, Ala., said in a statement that the "Central Landing" project will be the largest in the city's history, generating a projected $2 billion in retail sales and $34 million in new sales tax collections over 10 years.
The project is scheduled to be complete in 2017. It will feature up to 750,000 square feet of retail space along with restaurants, offices and multifamily properties, the statement said.
“For the last several years, Faulkner County has been recognized as one of America’s fastest growing counties for population and job growth," Conway Development Corporation president Brad Lacy said in the statement. "We are already an established, regional product in many ways. Central Landing will give us the setting to offer new amenities, not only to Conway, but central Arkansas.”
Jim Wilson & Associates President and Chief Executive Officer Will Wilson said the firm believes Conway has "great potential."
“We have a 40-year history in the commercial real estate business," he said in the statement. "It has been perfect preparation for a project just like this one."
The former airport property sits just southeast of downtown Conway between Harkrider Street and Interstate 40.