ERC Announces $8M Residential Development in Chaffee Crossing

The Stonecrest at Chaffee Crossing development is scheduled to be ready for leasing by June 2018.

ERC Holdings LLC of Fort Smith announced Tuesday its $8 million development of 32 luxury duplex homes at Wells Lake Road and Custer Boulevard, across the street from the Janet Huckabee Arkansas River Valley Nature Center in Chaffee Crossing.

The new Stonecrest at Chaffee Crossing will be built, owned and managed by Marion Driscoll Custom Homes and Danny Meadows Construction.

ERC expects the 32 duplexes, containing 64 living units, to be available for leasing in the second quarter of 2018. 

The development was pre-sold to builders, ERC spokesman Rod Coleman told Arkansas Business.

“The interest shown to lease units not only here but in Chaffee Crossing as a whole has been the best we have ever seen,” he said.

He said lease rates may range from $1,000 to $1,300 a unit, with the size of the units being 1,200 to 1,600 SF. The units will have two or three bedrooms, two baths and two-car garages.

“ERC is a first-class developer that continues to raise the bar for residential neighborhoods in Chaffee Crossing,” Ivy Owen, executive director of the Fort Smith Redevelopment Authority, said in a news release. “They are bringing new levels of luxury lifestyle to our city that appeal to every generation.”

Stonecrest will be the fifth residential neighborhood developed by ERC in the Chaffee Crossing area. Its other developments are The Havens, Highland Crossing, Avalon and Providence.