In 2000, the Ft. Chaffee Redevelopment Authority began a land development project. They now have only 2800 acres of the former Ft. Chaffee property left to divide up. According to Executive Director of the FCRA, Ivy Owen, the Authority has to be very alert and make wise decisions when they receive proposals. They have to take into consideration how the area will be affected by what the land will be used for. There has been almost $676 million in total capital investment realized at Chaffee Crossing since the project started.
July 14 the local section of Interstate 49 is scheduled to be opened for use. Owen said this will only cause an increase in that figure. It is also possible that, in the near future, Chaffee Crossing will have a new Ft. Smith Police substation.
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