Construction starts on $45.1 million multifamily project in Centerton

October 1, 2026 - 21:55

Work is underway on a new multifamily project in Centerton. Capstone Building Corp., a general contractor based in Birmingham, Alabama, has started construction on The Emerald, a development valued at $45.1 million.

The project will bring 256 units to the area, spanning a total of 312,414 square feet. The site is located at East Centerton Boulevard, a growing corridor in the city.

The Emerald adds to a wave of residential construction across northwest Arkansas, where demand for rental housing has climbed alongside population growth and business expansion. Developers have increasingly turned to multifamily projects to keep pace with an influx of new residents drawn by jobs and quality of life.

Details on unit sizes, amenities, and a completion timeline were not immediately available. The project joins several other developments underway in the region, signaling continued investor confidence in the local housing market.