Cobblestone Farm Community
LAST UPDATED • July 13th, 2020
LAST UPDATED • July 13th, 2020
By digging into the federal Low-Income Housing Tax Credit (LIHTC) program, we determined that there were opportunities to build affordable housing that were not being taken advantage of in Northwest Arkansas, in large part because there is a widespread belief that the region is not well-suited to the program due to higher development costs. Affordable housing could become more prevalent if local developers and other stakeholders were shown a clear and feasible path.
Additionally, we identified that Fayetteville could be a good candidate for an affordable community given the amount of local stakeholders that were willing to join together to make the concept work.
Excellerate Foundation has partnered with New Heights Church and Strategic Realty on this project to demonstrate what an affordable community could look like in Northwest Arkansas. Additional Collaborators include Cobblestone Farms, Potter’s House, The Joshua Center, Anthology Real Estate, 99 Balloons and a local financial institution that has helped us clear several of the initial hurdles.
Situated immediately south of Cobblestone Farm at Wedington Drive and 54th Avenue in West Fayetteville, the Community will be home to nearly 100 families, residing mostly in duplexes that range between $400 and $650 in monthly rent.
Approximately 75% of the units will be two or three bedrooms, making them comfortable for households of all sizes. A portion of the units are specifically designed for those with disabilities, ensuring that affordability will be available to everyone. Cobblestone Farm Community will also include some market-rate housing to encourage the development of a mixed-income neighborhood.
A playground and green space will provide additional opportunities for recreation and connection, while future plans include a shared, multi-use community space.
Potter’s House will offer ways for residents to connect with their neighbors and others to form engaging, intentional, and diverse relationships, as well as employment opportunities in its onsite processing center for its thrift stores. Food will be available through community gardens—and, potentially, through a local market—with assistance from Cobblestone Farm.
The Joshua Center will provide free or subsidized counseling to any resident who needs it. And specialized technology created and provided by Hark will connect the Community to hundreds of solutions in the social services sector to ensure residents get the help they need.
Furthermore, the Community is currently in discussions with an energy company, an internet provider, and a major food provider towards strategies to better support the residents of the Community, be it through lower utility costs, subsidized broadband access, or greater food accessibility.
Building social networks across socioeconomic lines benefits all those involved and leads to transfo...
Building social networks across socioeconomic lines benefits all those involved and leads to transformative action that betters the lives of everyone.
Addressing the development of parents or guardians in addition to those of their children will have ...
Addressing the development of parents or guardians in addition to those of their children will have the best chance of allowing interventions to succeed and strengthening the family as a whole.
Excellerate has partnered with Potter’s House to see how its model of creating diverse social networ...
Excellerate has partnered with Potter’s House to see how its model of creating diverse social networks can be expanded to include family-to-family relationships.
Excellerate has listened to a diverse set of community stakeholders about how racial inequity plays ...
Excellerate has listened to a diverse set of community stakeholders about how racial inequity plays out in Northwest Arkansas and what the best response would be.
Excellerate has partnered with Walton Family Foundation to create a financial assistance program to ...
Excellerate has partnered with Walton Family Foundation to create a financial assistance program to help stabilize families on the brink of crisis, especially in terms of their housing needs.
Geared towards less stable households that are in need of more than just financial aid, the Housing ...
Geared towards less stable households that are in need of more than just financial aid, the Housing Success Fund pilot program offers up to nine months of ongoing rental assistance and case management to the general public.