City of Conway Strategically Planning for Growth

(Conway Area Chamber of Commerce)

Conway is planning for progress. In 2024, the Conway Area Chamber of Commerce and Conway Development Corp. worked with the city to begin planning efforts, taking a closer look at two challenge areas and one opportunity that could be historic for the community.

What developed from those efforts were strategic plans taking aim at the city’s housing supply, local economic development and outdoor recreation. These plans will help shape Conway’s future for years to come.

Economic Development Strategic Plan

Recent industrial announcements, like Westrock Coffee’s expansion and Central Cold Solutions’ addition of a Conway location, brought new jobs and capital investment to the local economy. However, those announcements also highlighted the need for further development of Conway’s limited industrial real estate inventory. To compete for new projects, the community must identify and develop the next generation of office and industrial sites.

In September, the Conway Development Corp. revealed the results of a comprehensive economic development planning process facilitated by EY (formerly Ernst & Young). The study focused on developing future industrial sites, targeting specific industries, aligning local school curriculum with workforce needs and retaining talent through quality of place development.

Priorities

• Business growth and job creation
• Workforce expansion and employer alignment
• Real estate development and infrastructure improvement
• Quality-of-life and destination enhancement

Housing Demand Study

For the last two years, Conway has been the fastest growing large city in Arkansas, according to census data. Roughly 5,000 people moved to Conway in the last five years. As a result, the inventory – and pipeline – of shovel-ready residential lots has never been smaller.

In October, the chamber, in conjunction with The Next Move Group, rolled out a study that estimated the five-year demand for residential construction. The plan identified the need for approximately 1,400 new residences. The plan also broke down demand by price and showed a need for almost 1,000 new single-family home lots.

Lake Conway Urban Natural Area Study

In late 2023, the Arkansas Game and Fish Commission began the restoration and renovation of Lake Conway. The project will restore the health of the lake bed, allow for the construction of a modern drainage structure and improve access around the lake. Draining the lake also creates an opportunity for the city of Conway to reimagine how to use the north end, where the lake meets the city limits.

The Conway chamber and city of Conway partnered with Ecological Design Group to conduct a study on the revitalization of Lake Conway’s northern shore. The design features more than a mile of “floating boardwalk” that will provide low barrier, unprecedented access to one of central Arkansas’ signature natural assets. There are also plans for educational and outdoor-oriented business facilities. Finally, the north shore amenities will be connected to Conway’s comprehensive trail system, providing easy access to area residents and visitors.