TL;DR: Olive Street Apartments, a $13 million, 60-unit mixed-income community at 700 N. 24th St. in Rogers, opened with support from the Walton Family Foundation and developer Community Development Northwest Arkansas, according to Talk Business & Politics (September 2026). The three-story, four-building development reserves 33 units for households earning under 80% of area median income and 12 units for households under 50% AMI, with rents from $1,075 to $1,450, while 15 units rent at market rate.
What Is the Olive Street Apartments Project in Rogers, Arkansas?
Olive Street Apartments is a newly opened, three-story, 60-unit residential development at 700 N. 24th St. in Rogers, built with roughly $13 million in investment, according to Talk Business & Politics (September 2026). The project is the work of Community Development Northwest Arkansas, a Bentonville-based nonprofit developer; project partners included Burckart Construction Inc., Halff and Henry Architecture. The community consists of two-bedroom, two-bathroom units spread across four three-story buildings, and the source describes it as an attainable housing project supported by the Walton Family Foundation. A nonprofit-led development of this scale is notable both for its size and for the income mix it was structured to serve from day one: rather than opening as a single-rate property, Olive Street was designed from the outset to house market-rate tenants alongside income-qualified households. For developers and civic leaders watching how Northwest Arkansas addresses housing attainability, the project offers a concrete, completed example rather than a proposal.
How Are Olive Street's 60 Units Divided Across Income Levels?
Of the 60 total units, 33 (55% of the property) are reserved for households earning less than 80% of area median income, 12 (20%) are reserved for households earning less than 50% of area median income, and the remaining 15 (25%) rent at market rate — percentages derived directly from the unit counts reported by Talk Business & Politics (September 2026). Rents across the property range from $1,075 to $1,450, per the same report. That layered structure — a majority of units income-restricted, a meaningful share reserved for the deepest affordability tier, and a quarter left at market rate — is what makes this a mixed-income rather than a purely subsidized or purely market-rate community. For renters priced out of market-rate stock in Rogers, and for employers whose workforce commutes in from farther out, that mix matters as much as the unit count itself. It also shapes how the property performs: the market-rate units share a site, and an operating budget, with the income-restricted ones.
Who Financed and Built Olive Street Apartments?
The affordability component of Olive Street Apartments was made possible through support from the Walton Family Foundation combined with financing from The Huntington National Bank, a Columbus, Ohio-based lender, according to Talk Business & Politics (September 2026). That pairing — philanthropic support layered with conventional bank financing, executed by a nonprofit developer — is a specific capital stack, distinct from either a fully public-subsidized project or a purely private market-rate deal. Casey Kleinhenz, executive director of Community Development Northwest Arkansas, said the project "demonstrates the impact of building housing in locations where people can easily access the things they need every day," connecting residents to jobs, recreation, grocery stores, healthcare and transportation options. For developers and lenders evaluating similar deals, the combination of foundation backing and bank debt is a template worth understanding, even though the specific financing terms were not disclosed in the source report.
Why Do the Razorback Greenway Location and Land Donation Matter for Rogers?
Olive Street Apartments was built adjacent to the Razorback Greenway, and as part of the project, about 0.65 acres of land was donated to the city of Rogers for public open space, per Talk Business & Politics (September 2026). The siting is deliberate: Kleinhenz's statement ties the location directly to residents' access to jobs, recreation, grocery stores, healthcare and transportation. The land donation means Rogers gains public open space as a direct byproduct of the development itself — an arrangement worth noting for anyone tracking how new construction and civic amenities can advance together. Buyers, renters and investors evaluating Rogers should weigh Greenway proximity alongside access to employment corridors when comparing neighborhoods, and anyone choosing a real estate agent or brokerage in the city should verify the firm's licensing, local transaction history and market tenure before engaging. Mason Capital Group's record on those measures is a matter of fact: 30+ years of Northwest Arkansas expertise and $2.4B+ in cumulative transaction activity.
What Does This Model Mean for Developers Evaluating Workforce Housing in Northwest Arkansas?
Olive Street Apartments illustrates a repeatable structure: a nonprofit developer, foundation-backed affordability support, conventional bank financing, and a land donation to the host city, applied to a mixed-income rather than fully subsidized product. For private developers, the relevant takeaway is not that this exact structure is replicable without philanthropic partners, but that the underlying income mix — a majority of units income-restricted at the 80% AMI threshold, a smaller tranche at 50% AMI, and a market-rate remainder — can be executed on a single site when paired with the right capital stack and location. As attainable housing remains a live concern for employers and municipalities across the region, projects that blend income tiers near transportation and employment access are positioned to draw continued interest from lenders, foundations and cities alike. Developers evaluating comparable sites in Rogers, Bentonville, Springdale or Fayetteville should model both the affordability covenants and the market-rate offset carefully before underwriting a deal. MCG's development services support that kind of feasibility and structuring analysis for clients across the region.
Developers and investors evaluating mixed-income or workforce housing opportunities in Rogers and across Northwest Arkansas are the audience this project speaks to most directly. Mason Capital Group works with clients to assess site feasibility, financing structure and income-mix strategy for multifamily development. To discuss a specific site or concept, call 479-925-3333, visit masoncapitalgroup.com, or schedule a consultation.
Frequently Asked Questions
How many units does Olive Street Apartments have in Rogers, Arkansas?
Olive Street Apartments has 60 total units across four three-story buildings at 700 N. 24th St. in Rogers. Of those, 33 units are reserved for households earning under 80% of area median income, 12 units are reserved for households earning under 50% AMI, and 15 units rent at market rate, according to Talk Business & Politics (September 2026).
What does Olive Street Apartments charge for rent?
Rent at Olive Street Apartments ranges from $1,075 to $1,450, according to Talk Business & Politics (September 2026). The community mixes income-restricted units — reserved for households earning under 50% and under 80% of area median income — with market-rate units, and the published range covers that full mix of two-bedroom, two-bathroom units rather than any single pricing tier.
Who developed and financed Olive Street Apartments?
Community Development Northwest Arkansas, a Bentonville-based nonprofit, developed Olive Street Apartments with roughly $13 million in investment, according to Talk Business & Politics (September 2026). The affordability component was supported by the Walton Family Foundation and financed by Columbus, Ohio-based The Huntington National Bank, with project partners Burckart Construction Inc., Halff and Henry Architecture.
Projects like Olive Street Apartments are part of the broader story of how Northwest Arkansas is growing — not only in market-rate housing near Walmart's Bentonville headquarters, Tyson's Springdale campus or J.B. Hunt's Lowell operations, but in the attainable housing stock that keeps that workforce close to the jobs, schools and greenways that define the region. Mason Capital Group remains engaged in that broader conversation as a matter of professional stewardship of the communities it serves.
About the author: Cameron Torabi, Principal Broker — Mason Capital Group. 30+ years of Northwest Arkansas real estate expertise; $2.4B+ in cumulative transaction activity.
Source: https://talkbusiness.net/2026/09/rogers-mixed-income-community-opens-after-13-million-investment/. Mason Capital Group is not affiliated with the source publication.