CONWAY (KATV) -- Conway is calling it the largest real estate project in the city's history that's expected to bring in $2 billion in sales over a 10-year span.
The Conway Development Corporation is putting its wheels up and taking flight on a $90 million project in the very field currently used as the local airport. The project is to develop its current airport it into a regional shopping hub among other things.
An area called Central Landing will consist of 750,000 square feet of retail, including a variety of restaurants, office space and even multifamily housing.
The city forecasts this as a need with Conway expecting continuous growth in the upcoming 10 years. Central Landing is expected to make $2 billion in retail sales in that time frame, while also bringing in $34 million in sales tax collections.
"The shopping center component by itself is $90 million. It transforms the city, it really solidifies us as a regional destination for shopping, and it really just changes the face of Conway forever," said Conway Development Corporation president Brad Lacy.
Conway's Municipal Airport must first move to its new location before this construction can begin, a move expected for next August.
The first phase of Central Landing isn't expected to open until 2017.
Jim Wilson Associates of Montgomery, Ala. will work with the CDC to develop the more than 150 acres of real estate.