Fayetteville student-housing development set for 2027 opening
A $97 million, 272-unit student housing project in Fayetteville is expected to open in August 2027, the Northwest Arkansas Business Journal first reported.
The big picture: Enrollment has reached record-high levels at the University of Arkansas, and there aren't enough on-campus beds.
About 1,200 students were placed in off-campus housing in the fall through UA contracts with apartment complexes.
State of play: The 532,300-square-foot Verve Fayetteville will be at 707 W. Treadwell St. It's being built by Subtext of St. Louis and equity partner Kayne Anderson Real Estate.
It's expected to add 845 beds in its 272 units, with one- to four-bedroom apartments.
Context: At least other three similar projects are in various stages of approval or appeals with the city.
Last week, the city council denied the rezoning of 3 acres between Hill and University avenues for a seven-story complex with 313 units and 719 bedrooms, proposed by Chicago-based Core Spaces.
The council approved a development plan for a seven-story student housing project along Duncan Avenue, just east of the Fayetteville High School football stadium. Austin, Texas-based Endeavor Real Estate Group plans calls for 294 units and 1,011 bedrooms.
The council may vote again Tuesday about whether to grant an appeal for another seven-story student-oriented housing project on Dickson Street between Church and Block avenues, the Fayetteville Flyer reports. The project brought by developer Trinitas Ventures of Indiana calls for 185 units with 611 bedrooms.
The caveat: The council voted against an appeal by Trinitas last week, but council member Teresa Turk abstained from the vote.
According to the council's rules, she must vote because she participated in conversation about the appeal.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
an hour ago
- Business Insider
Upcoming Stock Splits This Week (June 23 to June 27)
These are the upcoming stock splits for the week of June 23 to June 27, based on TipRanks' Stock Splits Calendar. A stock split takes place when a company increases its number of outstanding shares by issuing more to existing shareholders, effectively reducing the price per share without altering the firm's overall market capitalization. While the underlying value remains the same, the lower share price makes the stock more accessible to everyday investors and may help boost market interest. Confident Investing Starts Here: Meanwhile, a reverse stock split does the opposite, shrinking the share count by consolidating existing shares into fewer units. This pushes the stock price higher while keeping the total valuation the same. It's a common move for companies trying to meet exchange listing requirements, especially if their share price is flirting with minimum thresholds like those set by the Nasdaq. Whether it's about attracting more investors or holding onto a listing, these corporate actions can offer valuable clues about a company's strategy and where it sees itself heading next. Let's take a look at the upcoming stock splits for the week. Pegasystems (PEGA) – Pegasystems is a leading provider of enterprise AI-powered decisioning and workflow automation software. On June 17, the company announced a 2-for-1 forward stock split, aimed at improving share accessibility for retail investors. PEGA stock is expected to begin trading on a split-adjusted basis on June 23. TruGolf Holdings (TRUG) – Specializing in high-end golf simulator technology, TruGolf aims to bring the driving range indoors. On June 18, the company announced a 1-for-50 reverse stock split to help maintain compliance with Nasdaq's listing requirements. The split is set to take effect on June 23. Maase (MAAS) – China-based Maase, a digital platform company, is switching from trading American Depositary Shares (ADSs) to listing its regular shares directly on the Nasdaq. To prepare for this transition, the company announced a 1-for-90 reverse stock split on June 18, meaning every 90 ADSs will be converted into one regular share. The split takes effect when the market opens on June 23, 2025. Super League Enterprise (SLE) – Super League builds immersive experiences across gaming and metaverse platforms. On June 18, the company announced a 1-for-40 reverse stock split, designed to boost the share price and extend its Nasdaq listing runway. The stock will begin trading on a split-adjusted basis on June 23. KULR Technology Group (KULR) – Focused on thermal management and battery safety for aerospace and EV markets, KULR announced a 1-for-8 reverse stock split on June 13 to regain compliance with Nasdaq's minimum bid price rule. The stock will begin trading on a split-adjusted basis on June 23. Stem, Inc. (STEM) – Leveraging AI to boost grid-scale energy efficiency, Stem announced a 1-for-20 reverse stock split on June 11 to comply with the NYSE's minimum bid price requirement. The stock will begin trading on a split-adjusted basis on June 23. Cellectar Biosciences (CLRB) – Cellectar is a clinical-stage biotech developing phospholipid drug conjugates for targeted cancer treatment. On June 18, the company announced a 1-for-30 reverse stock split, following shareholder approval the prior week. The move is aimed at regaining compliance with Nasdaq's minimum bid price requirement. The split is slated to go into effect on June 24. Jiade Limited (JDZG) – China-based Jiade Limited, which focuses on adult education and logistics services, announced on June 20 that it would implement a 1-for-8 reverse stock split, effective June 24, consolidating its shares and updating its CUSIP to regain compliance with Nasdaq's minimum bid price requirement.
Washington Post
an hour ago
- Washington Post
Tesla launches long-awaited Robotaxi in Austin
Tesla held its first Robotaxi rides in Austin on Sunday, a cautious and modest launch that came more than a decade after CEO Elon Musk first pitched the idea. A group of social media influencers and Tesla investors took the first trips on Sunday, with many of them posting videos about their experience riding in the driverless cars — albeit with a human observer in the passenger seat. Musk said the company was being 'super paranoid about safety' ahead of the launch. The vehicles were limited to certain areas in Austin and included a safety monitor. 'Culmination of a decade of hard work,' Musk wrote on X on Sunday. The tentative launch is a key step toward Musk's longtime ambition of Tesla's fully autonomous vehicles shuttling paid passengers around the country with no one behind the wheel. Investors have been eager for Tesla to unveil its fully self-driving vehicle, as Musk has staked the future of the company on the technology, saying that 'the value of Tesla, overwhelmingly, is autonomy.' Tesla chose Austin as its initial launch site because Texas has a comparatively relaxed regulatory environment for autonomous vehicles. On Thursday, a group of Democratic state lawmakers called on Tesla to delay its launch until after Sept. 1, when new state-level safety requirements for autonomous vehicles take effect. The updated law, which overhauls the state's 2017 framework, requires commercial autonomous vehicle operators transporting passengers or goods to obtain prior authorization from the Department of Motor Vehicles, among other measures. The National Highway Traffic Safety Administration (NHTSA) recently sent Tesla a letter requesting details about the safety measures in place for the Robotaxi launch. NHTSA said Friday it had received Tesla's response and was in the process of reviewing it. Tesla also received a permit this year in California to provide fully autonomous taxi rides — initially to employees — on a 'prearranged' basis, with a safety driver present. The Robotaxi rides in Austin are being conducted in Tesla's midsize Model Y vehicles, not the futuristic Cybercab without a steering wheel and pedals that Musk unveiled last year. That vehicle — envisioned as a $30,000 'lounge on wheels' — is expected to launch in the next few years. Though long the leader in the U.S. electric vehicle market, Tesla is playing catch-up in the realm of autonomous vehicles. Google's Waymo vehicles are a regular presence on the streets of San Francisco and have also been rolled out commercially in Austin, Phoenix and Los Angeles. For months the company has been testing its service with safety monitors aboard in Washington and also plans to expand to New York, Atlanta and Miami. On Sunday, the first users of the Robotaxi service generally seemed pleased with the experience as they were dropped off at supermarkets and other spots around Austin. 'No-one is in the driver seat and the safety monitor in the passenger seat does not have a steering or pedals,' Tesla fan Sawyer Merritt wrote on X after his first ride. 'It was awesome.' The Robotaxi rollout comes at a critical time for Musk, who has distanced himself from Washington and is trying to redefine his image through Tesla and his other companies. Investors initially hoped Musk's ties with President Donald Trump could boost Tesla's fortunes, causing the stock, which closed at $251 on Election Day, to soar as high as $480 in December. Those gains evaporated as Musk embraced a contentious role within the administration as the driver of deep cuts to federal personnel and grants. The stock dropped to $222 in April after the company announced a 71 percent plunge in quarterly earnings from a year earlier. The longer-term effects of Musk's ties to Trump are unclear after a testy public falling out between the two earlier this month. Tesla stock closed at $322 on Friday.
CBS News
an hour ago
- CBS News
Rockets acquire Kevin Durant in blockbuster deal with Suns
The Houston Rockets are acquiring 15-time All-Star and four-time Olympic gold medalist Kevin Durant from the Phoenix Suns in a blockbuster deal struck Sunday, a person with knowledge of the agreement told The Associated Press. The Rockets are giving up Dillon Brooks, Jalen Green and six future picks — including the No. 10 selection in Wednesday's opening round of this year's draft — according to the person who spoke to the AP on condition of anonymity because the deal was still pending NBA approval. It ends weeks of speculation about where Durant would end up. Many teams were involved at various times, including Miami and Minnesota, but in the end Phoenix accepted the Rockets' offer. ESPN first reported the trade. Fans learned of the news while Durant was on stage in New York at Fanatics Fest NYC, and when they began reacting, Durant started smiling broadly. "We're gonna see, man," Durant said from the stage. "We're gonna see." Boardroom, the ever-growing media company that Durant and his business partner, Rich Kleiman, co-founded in 2019, teams up with Fanatics on a number of projects. The panel that Durant was set to appear on there Sunday was called "Global Game Changers." He certainly figures to change the game for the Rockets. Houston finished No. 2 in the Western Conference in the regular season, albeit 16 games behind No. 1 Oklahoma City. It now adds a two-time champion to its young core as it looks to make another jump next season. Durant averaged 26.6 points this season, his 17th in the NBA — not counting one year missed because of injury. For his career, the 6-foot-11 forward is averaging 27.2 points and seven rebounds per game. The move brings Durant back to the state of Texas, where he played his one year of college basketball for the Longhorns and was the college player of the year before going as the No. 2 pick in the 2007 draft by Seattle. Houston will become his fifth franchise, joining the SuperSonics (who then became the Oklahoma City Thunder), Golden State, Brooklyn and Phoenix. Durant won his two titles with the Warriors in 2017 and 2018, and last summer in Paris he became the highest-scoring player in U.S. Olympic basketball history and the first men's player to be part of four gold-medal teams. Durant is a four-time scoring champion, a two-time Finals MVP and one of eight players in NBA history with more than 30,000 career points, joining the club on Feb. 11. Durant is under contract next season for roughly $50 million before becoming a free agent in 2026. His departure from the Suns was expected and ends a disappointing 2 1/2 years in the desert. Durant never enjoyed consistent team success despite being part of a trio that included star guards Devin Booker and Bradley Beal. Durant was acquired by the Suns from the Brooklyn Nets in a four-team trade-deadline deal in 2023, just days after new owner Mat Ishbia bought the team for roughly $4 billion. Phoenix gave up a lot to acquire the then-34-year-old, sending young standouts Mikal Bridges and Cam Johnson, along with four future first-round picks, to Brooklyn.
