Haag Brown Commercial announced Monday it will start developing property owned by Arkansas State University adjacent to the proposed Greensborough Village.

Located at the intersection of Red Wolf Boulevard and East Johnson Avenue at the entrance to the Hilltop area. the property sits in the center of the Northern corridor’s commercial growth where Red Wolf Boulevard, Johnson Avenue and U.S. 49 North converge.

“We are excited about working on what we feel will be the most impactful retail development in an area where growth in Jonesboro is headed,” said Haag Brown Commercial Principal Josh Brown. “As an alumnus of A-State, I know how this will enhance both the university and the community of students, faculty and staff that make up Arkansas State.”

The intersection at Red Wolf Boulevard and East Johnson Avenue has the largest traffic count in the city, and Arkansas State University is hoping to generate revenue from development of the 26 acre property.

“A-State is interested in leveraging university assets to generate revenue and contribute to the growing NEA economy,” said Shawnie Carrier, chief of staff for the chancellor at Arkansas State University. “We are doing everything possible to minimize tuition increases and make up for flat state funding.”

According to Carrier, Haag Brown responded to the university with a detailed development plan for the site after Arkansas State University expressed interest in finding commercial development partners. Haag Brown was qualified through a request for quote process issued in March of 2013.

With tenants in mind for each acre of the project and local investors already committed to specific projects, the committee embraced a strategic plan to make it a reality.

“Starting in 2010, we have been part of numerous projects around Arkansas State,” said Haag Brown Commercial Principal Greg Haag. “We’ve developed many commercial projects across the region, with the majority of them being located on this stretch of Red Wolf Boulevard and Highway 49 North.”

Haag said the opportunity to participate with both Arkansas State and a tract of land so strategically located brings together projects Haag Brown Commercial has recently developed.

Arkansas State is Craighead County’s second largest employer and is one of the largest drivers of the regional economy. According to Brown, the property’s proximity to the university gives it unique potential.

“This is a rare opportunity to be a part of a project with one of Jonesboro’s major economic engines,” he said. “This property is not only adjacent to Arkansas State; this property is Arkansas State. There are many unique opportunities that come with the development of university property.”

Brown likened Monday’s announcement to a similar announcement Haag Brown Commercial made four years ago.

“It’s like when we brought the old fairgrounds to the market about four years ago,” he said. “Some pieces of land are just going to be developed, and this is one of those pieces. This land has almost twice the frontage as Greensborough Village.”

Brown said with the old fairgrounds, Haag Brown Commercial had several people and businesses with whom they’d do a project.

“It’s the same here – a lot of restaurants and retailers want on the north side of town,” he said. “It’s easiest to accommodate those request with a big piece of property, and we’ll be announcing big things in that area in the near future.”

Haag Brown Commercial has begun the development process having met with several restaurants and retailers in the past week who have an interest in the site. The company expects to see results quickly.

by Christi Crawford on December 2, 2014