Chamber reports housing developments on the rise in Boone County

2nd quarter economic development reports shows promising housing development

Bob Largent, President/CEO of the Harrison Regional Chamber of Commerce made a presentation to the Boone County Quorum Court on Tuesday night regarding economic development.

Part of the agreement between the county and the chamber is that they receive this report quarterly in exchange for the annual investment the county makes into the chamber of commerce.

This report covered the second quarter of 2022 (April, May & June).

In the report Largent addressed the extremely tight housing market in Harrison that has driven up the average home sales price by nearly $30,000 in the last year making home ownership a difficulty for some, especially young families.

Overall, in 2021 Largent reported that there were 13 homes built in Harrison totaling over $2.8 million of investment. The numbers are growing faster in 2022 as through the second quarter there are 10 new homes being built totaling over $1.8 million of investment.

Home remodeling in 2021 totaled 15 homes and $385,000 of investment while so far in 2022 the total homes remodeled is six for an investment of $63,000.

There are several housing developments being reported throughout the county including ones on Gibson Road, Cottonwood Road, Diamond City, Gibson-Rock Creek Road, and the Iron Bluffs Development. All-in-all these developments will total hundreds of new dwellings in the form of single-family homes, apartments, duplexes, and fourplexes.

Some developments are already underway. On Cottonwood Road six of the 12 planned duplexes are under construction. The Gibson Road Development, which promises hundreds of homes and lots for sale is expected to begin construction in September of this year, and in the Iron Bluffs Development more than 30 of the total 125 single family home lots have already been sold.

In addition to this construction Largent also said the chamber is working closer than ever with the Arkansas Economic Development Commission (AEDC).

“AEDC is aware of the properties we have, both buildings and sites. We work with them on a regular basis, educating their project managers to know what we’ve got,” Largent said, “we’ve been given two leads by AEDC this year, neither have panned out but, we’re now having AEDC call us saying, ‘would you be interested in this.’ That’s never happened before.”

Largent listed housing as one of the main problems and focuses for the chamber as far as economic development is concerned.

See the chambers report on business investment, job creation, and unemployment here.