FAYETTEVILLE, Ark. (KNWA/KFTA) — Fayetteville is seeking proposals for mixed-income housing projects on four city-owned properties as part of efforts to increase housing options for renters.
"The cost of land acquisition is one of the largest barriers to affordability, and municipalities like the City of Fayetteville can lower these costs by offering municipal land for lease or sale in exchange for long-term affordability commitments from development teams," reads the City of Fayetteville's website.
The four sites are:
The call for proposals comes as Fayetteville faces a competitive rental market. Apartments are rented in an average of 22 days - the shortest vacancy period in the country, 18 days faster than the national average, according to a report by RentCafe.
The report states Fay