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Gravette board hears $1.6 million offer for 9 acres, seeks community input and development protections
Summary
A commercial buyer offered roughly $1.6 million for about 9 acres of district land; board members pressed the buyer’s representative for binding covenants to ensure a grocery store is developed and voted to table formal action while soliciting public feedback.
A representative for a corporate buyer outlined a commercial purchase offer for about 9 acres of district-owned property and told the Gravette School District board the proposed purchase price is $4 per square foot — roughly $1.6 million before surveying adjustments — with a 180‑day due‑diligence period and standard contingencies.
Steve Lane, a Rogers-based agent representing the buyer, said the acquisition would be assigned to the buyer’s corporate entity and that…
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