Planned apartment complex in Lowell
A 152-unit apartment complex in Lowell is being developed by the same companies building another multi-family project in Springdale.
Rogers-based ERC Holdings is partnering with Mia Rose Holdings of St. Louis on PURE Lowell, which will have one- and two-bedroom units on 6 acres near JB Hunt’s headquarters. Construction will begin this month and the project is expected to be completed in the third quarter of 2023.
The 109 one-bedroom apartments and 43 two-bedroom units will be spread across 10 three-story buildings, with amenities such as walking paths, a swimming pool, bicycle storage, fitness center and business center .
The companies are also working together on a 234-unit apartment community called PURE Springdale, which is under construction about 10 miles from the Lowell development.
“Our vision is to create a truly unique community that feels like a welcoming neighborhood where people can live, work, play, and most importantly, call home,” said Rob Coleman, president of ERC Holdings.
Sharp Architects Inc. designed the Lowell project and the general contractor is Pick-It Construction Inc.
Funding for the project was provided by the First National Bank of NWA.
Car-Mart will release its fourth quarter results on Monday
Rogers-based America’s Car-Mart is expected to report fourth-quarter and full-year results on Monday after the market closes.
A consensus of four analysts predicts that the used car dealer buy here, pay here will post earnings of $3.10 per share for the quarter, according to Yahoo Finance. An average estimate from four analysts pegs revenue for the period at $297.23 million.
Car-Mart’s third quarter saw record sales, but its profit margin beat analysts’ expectations. The company blamed the impact of outbreaks of the Omicron variant of covid-19 for reducing the number of units sold during the month of January.
The company’s senior management will host a conference call with analysts on Tuesday at 10 a.m. The live audio can be viewed by calling (877) 776-403 with conference ID 6579153. The call will also be webcast on the company’s Investor Relations page. .
Car-Mart operates 154 dealerships in 12 states – Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee and Texas
Shares of Car-Mart closed at $78.17, down $2, or about 2%, Friday on the Nasdaq. The shares have traded as low as $72.50 and as high as $177.45 over the past year.
Condition Index ends session down 9.69
The Arkansas Index, a price-weighted index that tracks the largest state-based public companies, closed Friday at 712.21, down from 9.69.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of December 30, 1997.