A new affordable housing project for veterans in Fayetteville, Arkansas, is nearing completion and has the potential to serve as a national model, local officials stated on Wednesday. Known as Patriot Park, the development will consist of 63 apartment units designed to provide housing for low-income veterans. This initiative utilizes the federal Low-Income Housing Tax Credit program and is built on a three-acre parcel of land that was previously a vacant parking lot, strategically located near the Veterans Health Care System of the Ozarks.
The project is a collaboration between Washington County and Strategic Realty, a firm owned by Republican state Senator Jim Petty. Strategic Realty has previously engaged in various affordable housing projects, benefiting low-income residents in Fayetteville and employees of the Bentonville Public School District. During a recent tour of the construction site, Republican U.S. Senator John Boozman, who serves as the ranking member on the Senate Appropriations Subcommittee on Military Construction, Veterans Affairs and Related Agencies, commended the initiative. He noted that the unique approach taken in this project could inspire similar developments across the country.
“It’s not only going to help the veterans in the area, but I think it’s a plan — because it is unique, it works — that will spread throughout the country,” Boozman remarked. He emphasized the importance of affordability, stating, “That’s really what it’s about is affordability for veterans.”
Challenges in Northwest Arkansas have arisen in recent years due to a rapidly growing population, which has driven up housing costs. The region’s expansion is attributed to numerous factors, including economic development opportunities and an influx of new residents during the COVID-19 pandemic. In response, local organizations and government officials have been actively seeking solutions to the housing crisis, launching initiatives such as a workforce housing center and a specialized facility at the University of Arkansas aimed at exploring affordable housing strategies.
Patriot Park has experienced delays primarily due to skyrocketing construction costs during the pandemic, which created a significant funding gap, according to Washington County Judge Patrick Deakins. The construction is projected to conclude by spring 2024, and the complex will also include commercial spaces and meeting rooms intended to foster a sense of community among residents.
“One of the things they primarily miss is that camaraderie, that brotherhood they experienced within the armed forces,” Deakins explained. “We think we can kind of recreate, synthesize that environment here.”
While priority for the apartments will be given to veterans, Deakins mentioned that he does not want units to remain unoccupied. Therefore, other community members who meet income requirements may also qualify to reside in the development. He pointed out the pressing need for affordable housing in Fayetteville, particularly for veterans who often face challenges such as injuries or disabilities and may be living on a fixed income.
“They need the predictability of this apartment,” Deakins stated. “They need to know that in three years the rent’s not going to go up 200%. That’s what this is going to give them. To take that one level of stress off their housing of that veteran, to know that they’re going to be fine, safe, warm.”
For additional information about the Patriot Park project, inquiries can be directed to the Washington County Veteran Services Office. This initiative reflects a growing commitment to address the housing needs of veterans and sets a precedent for similar efforts nationwide.
