Specialized Real Estate Group of Fayetteville is leading the development of Drake Farms, a new 165-acre, mixed-use neighborhood district in Fayetteville designed to evolve over the next 15 years as a natural extension of the city.
Planned as a long-term, multi-phase neighborhood, Drake Farms will bring together housing, health care, offices, local businesses and preserved green space in a walkable, people-centered environment shaped by the land’s history and Fayetteville’s culture, according to the firm’s official announcement.
Of the 165 acres, approximately 40 acres are designated for the future expansion of Washington Regional Medical Center, creating space for additional inpatient and outpatient services to meet the region’s growing health care needs while placing residents, employees and visitors in close proximity to care, jobs and daily amenities.
“Drake Farms is about building a neighborhood first — one that feels authentic to Fayetteville and grounded in the land’s legacy,” said Jeremy Hudson, CEO of Specialized Real Estate Group. “We believe the spaces between the buildings are just as important as the buildings themselves. Sidewalks, trails, gathering spaces and preserved green areas are what turn a collection of structures into a true neighborhood. This is a rare opportunity to shape a place where people can live, work and gather in a way that feels connected, walkable and enduring.”
Phase One is scheduled for completion in 2026 and will establish the foundation of the Drake Farms neighborhood. The first phase will include multifamily residences, shared amenities, office space and supporting commercial uses, all designed to support daily interaction, neighborhood connection and a strong sense of community.
Nabholz Construction is the primary general contractor for Drake Farms. With decades of experience delivering complex, multi-phase projects, Nabholz was chosen for its commitment to quality construction, long-term durability and thoughtful execution.
The land itself carries deep historical significance. Once home to Noah Drake, a University of Arkansas professor, agriculturalist and early Fayetteville visionary, the property was the site of pioneering black walnut research and cultivation. Nearly 130 walnut trees planted almost a century ago remain on the land today.
As part of the development, the historic walnut grove will be preserved as a central green space, serving as both a gathering place and a living connection to the site’s agricultural past.
For Neal and Gina Pendergraft, whose family spent decades carefully acquiring and reassembling Noah Drake’s original property — along with parcels held by two other Fayetteville families — maintaining the land’s integrity and ensuring it remained in thoughtful local hands was essential.
“It was important to us to work with a local team that understands Fayetteville and cares deeply about how this place grows,” Neal Pendergraft said. “Drake Farms is being shaped with intention, and I believe it will feel like a true neighborhood — not something dropped in, but something that belongs.”
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