FAYETTEVILLE — Olive Tree Holdings said Tuesday it will invest $10 million in three of its properties in Fayetteville with the intent to turn its duplex and fourplex residences into homes for purchase.
The New York-based company said the capital improvements at its The Life at Shiloh Reserve, The Life at Woodland Hills and The Life at Rolling Meadows, which include new interior paint and flooring as well as exterior and landscaping improvements, are expected to be complete in the third quarter of 2023.
“This project will also provide residents across the Northwest Arkansas region with home ownership opportunities through the conversion of the duplex and fourplex residences for sale,” Ian Bel, managing principal and chief executive officer of Olive Tree Holdings said in a statement.
Since 2017, Olive Tree Holdings has acquired and transformed over 16,000 units of workforce and affordable housing communities across eight states, according to the company.