Teachers deserve our
community’s full support.
Housing Details
Multifamily Rental Units
- 120 apartments
- 1, 2, and 3 bedroom
- 650-1100 sq.ft. per unit
- Estimated rent: $750 per month (2 bedroom)
Single-family Cottages
- 40 cottages
- 2 bedroom, 2 bath
- 850-1000 sq.ft.
- Estimated rent: $1,000 per month
- Also eligible for the HOMES program at $1,500 per month.
Key Policies
- All: Eligibility is determined by income level
- Cottages: Maximum residency of five years
- Cottages: Maximum of five people per household
Resources
- On site early childhood learning center
- On site adult education classes
- On site tutoring
- Needs assessment and resource plan (provided by Hark)
- Bentonville Community Center across the street
- Walkable amenities (e.g. health clinic, groceries, restaurants)
- Public transportation stop at the entrance to the development
- Easy access to the Razorback Greenway
HOMES Program
- Available to residents in single-family cottages
- $1500 payment per month (principal and interest)
- No down payment
- No PMI
- No taxes
- No closing costs
- No building insurance
- No building or lawn maintenance
- Upon departure, the principal of monthly payments and a large portion of the equity appreciation can be used for the purchase of a permanent home
- An estimated $50,000 for down payment or other home purchases expenses
- Actual amount depends on length of time in the program
- On site educational resources
- Home ownership preparation
- Financial management classes
- Credit management
Frequently Asked Questions.
Financial Structure.
How much will the Bentonville Teacher Housing project at McAuley Place cost?
The development is currently estimated to cost approximately $35M.
What are the sources of funding?
McAuley Place is funded by a combination of philanthropic grants, donations from the public through the Teacher Homes Fund, and federal and state government dollars (including the Low Income Housing Tax Credit (LIHTC) program). No county* or local tax dollars are used.
Note: Benton County’s contribution is from federal dollars acquired specifically for stable housing projects.
Resident Policies.
Who is eligible to live at McAuley Place?
The multifamily units will follow the eligibility criteria established by the LIHTC program–including household income guidelines–and will be open to eligible Bentonville Schools teachers and staff, as well as other residents of the Bentonville school district.
The single-family cottages will be available to current Bentonville Schools teachers and employees with household incomes of 100% of the Area Median Income (AMI) or less.
How are residents chosen?
Both the multifamily units and single-family cottages will be available to eligible applicants on a first-come, first-served basis. A wait list will be posted by the property management company shortly before the first units in the development are opened. More information on this process will be made available to the public closer to the opening.
When will McAuley Place open?
The development will be constructed in phases, with Phase I, comprising 60 multifamily units, will be completed by the end of 2025. Phases II and III, comprising 60 multifamily units and 40 single-family cottages, respectively, will be completed by the end of 2026.
Who is responsible for maintenance of the buildings and the grounds?
Maintenance for all 160 units, as well as the greenspace within the development, will be handled by the property management company. Residents are not responsible for any maintenance.
How long can residents live at McAuley Place?
The multifamily units will follow the guidelines set forth by the LIHTC program.
The single-family cottages are meant to be a transition to home ownership, so one household can live in a cottage for up to five years.
How many people can live in a single unit at McAuley Place?
The multifamily units will follow the guidelines set forth by the LIHTC program.
The single-family cottages have a maximum capacity of five people per unit.
Early Learning Center.
Will the Early Learning Center actually be on the grounds of McAuley Place?
Yes. It is a 3,000 sq.ft. facility that is currently planned to be near the entrance of McAuley Place.
What programs will be offered?
A high quality pre-K program with 40 slots for children approximately 3 to 5 years old, and a high quality infant/toddler program that will have 20 slots for children approximately 6 to 24 months old.
Who will provide the programs?
All infant, toddler, and Pre-K programs will be run by Bentonville Schools.
How much do the programs cost?
Approximately half of the available slots will be free for lower income families. The other half will consist of subsidized and full-pay slots. Fees for these slots are still being finalized.
What are the daily hours of the programs?
All programs will follow the school day schedule. After school care might be available for an additional fee.
Who is eligible for the programs?
Children of Bentonville Schools employees that live at McAuley Place will be prioritized, followed by children of other residents of McAuley Place. Unclaimed slots will be filled by children of Bentonville Schools employees that do not live at McAuley Place.
Will programs run during the summer?
A limited number of slots will be available for those families who have year-round work schedules.
House Ownership Mutual Equity Solutions (HOMES)
Who is eligible for the program?
Any resident of a single-family cottage can participate in HOMES.
Who provides the program?
HOMES was developed and is run by Excellerate Housing, a local nonprofit affordable housing developer.
Is the program sustainable?
Yes. A portion of participants’ monthly payments go into the maintenance and upkeep of the cottages so that the program can last long-term.
If someone rents one of the single-family cottages, can they join the HOMES program later?
Yes. And they don’t even have to move. Any of the cottages can be allocated to affordable rental or the HOMES program.