Infrastructure construction has officially commenced on Drake Farms, a $1 billion mixed-use neighborhood development in Fayetteville, Arkansas. Led by Specialized Real Estate Group Inc., this landmark 15-year project is set to reshape the city’s northwest corridor, delivering thousands of homes, expansive healthcare facilities, and vibrant commercial space across 165 acres.

Drake Farms is one of the most ambitious mixed-use developments in Arkansas history, combining residential, healthcare, and commercial uses under a single master plan. The development will deliver 2,400 homes alongside 1.3 million square feet of medical, healthcare, and commercial space when fully built out.

The project is designed around the principle that neighborhoods are defined not just by buildings, but by the connections between them. Walkable streetscapes, shared green spaces, trails, and gathering areas form the backbone of the development’s urban design philosophy. A historic walnut grove — planted nearly a century ago by University of Arkansas professor and agriculturalist Noah Drake, for whom the project is named — will be preserved as a central public green space, honoring the land’s heritage while anchoring the neighborhood’s identity.

The first phase of the development is scheduled for completion in 2026 and includes multifamily residential buildings, shared amenity spaces, and office accommodation. Approximately 40 acres of the total site have been reserved for the expansion of Washington Regional Medical Center, positioning the development as a significant healthcare node for the wider Northwest Arkansas region.

Project Fact Sheet: Drake Farms

Project Name: Drake Farms

Location: Fayetteville, Arkansas, USA

Estimated Cost: $1 billion

Site Area: 165 acres

Residential Units: 2,400 homes

Commercial/Medical Space: 1.3 million SF

Phase 1 Completion: 2026

Total Development Timeline: 15 years

Healthcare Anchor: Washington Regional Medical Center expansion (40 acres)

Project Team: Drake Farms

Developer: Specialized Real Estate Group Inc., Fayetteville, AR

CEO/Developer Lead: Jeremy Hudson

General Contractor: Nabholz Construction Corp., Conway, AR

Healthcare Partner: Washington Regional Medical Center

Land History: Named after University of Arkansas professor Noah Drake

The Builders Behind the Vision

Specialized Real Estate Group Inc., headquartered in Fayetteville, is serving as both developer and master planner for the Drake Farms project. The firm is led by CEO Jeremy Hudson, who has been vocal about building a neighborhood that feels organic to Fayetteville’s character rather than purely commercial in nature.

Nabholz Construction Corp. of Conway, Arkansas, is the primary general contractor on the project. Nabholz is one of the most established construction firms in the South-Central United States, with decades of experience across healthcare, commercial, and institutional projects. Washington Regional Medical Center, a major regional hospital system, is the anchor healthcare partner on the development and will direct the buildout of its 40-acre medical campus expansion within the site.

Jobs, Growth, and the Case for Walkable Fayetteville

At full buildout, Drake Farms is expected to function as a self-contained urban district, reducing residents’ dependence on car travel and supporting a walkable lifestyle uncommon in most mid-size American cities. The development’s emphasis on locally owned businesses, professional services, and neighborhood-serving retail is a deliberate strategy to avoid the homogenized commercial character typical of large-scale suburban developments.

The proximity of a major medical campus expansion adds an important employment dimension to the project. Healthcare is among the fastest-growing employment sectors in Northwest Arkansas, and the Washington Regional expansion is expected to create hundreds of permanent jobs. Combined with the commercial and office components of Drake Farms, the development is anticipated to generate significant economic activity along the Fayetteville corridor throughout its 15-year construction timeline.

Arkansas Joins the Big Leagues of Master-Planned Development

Drake Farms reflects a broader national shift toward integrated mixed-use neighborhoods that blend housing with healthcare, employment, and community amenity. Northwest Arkansas has emerged as one of the most dynamic growth markets in the United States over the past decade, driven by the region’s corporate ecosystem anchored by Walmart, Tyson Foods, and J.B. Hunt Transport Services. The Fayetteville-Springdale-Rogers metro area has consistently ranked among the fastest-growing mid-sized metros in the country, placing significant pressure on housing supply and infrastructure.

 

Developments of this scale are increasingly common in high-growth secondary cities such as Austin, Raleigh, and Nashville, where land availability and population inflows have created the conditions for multi-decade master-planned communities. Drake Farms positions Fayetteville in that same conversation — a city with the demographic momentum to support a $1 billion, decade-and-a-half buildout that would have been unthinkable just 20 years ago. The adjacent Junction at Shiloh, which recently secured financing through Mia Rose Holdings, signals that institutional capital is already moving into the corridor. The integration of a regional medical center expansion into a residential-led master plan also mirrors trends seen in projects like Midtown Miami’s Wynwood medical district and Nashville’s 1 Centennial Place, where health campuses anchor mixed-use neighborhoods and drive foot traffic beyond the typical 9-to-5 commercial cycle.