Northwest Arkansas Democrat-Gazette:
Chaffee Crossing saw unexpected growth in 2021, bringing in money, jobs and experiences affecting the River Valley and its residents.
In 1995, the U.S. Department of Defense’s Base Realignment and Closure Commission recommended closing Fort Chaffee, an Army base opened in 1941. After the closing, the government opted to lease 65,000 acres to the Arkansas Army National Guard for training. The remaining 7,000 acres were turned over to the local community for redevelopment.
The Arkansas Legislature formed the Fort Chaffee Redevelopment Authority in 1997 to oversee the development of the land. The Fort Chaffee Redevelopment Authority uses the revenue generated from land sales to reinvest into infrastructure and public use amenities, and has reduced land prices or conveyed property at no cost to expedite and enhance development for public benefit.
Fort Chaffee Redevelopment Authority’s 2021 report announced that Chaffee Crossing made a record $5 million in property sales revenue, more than double the nearly $2.5 million in 2020.