In the NewsScissortail Developers Planning Morning Star Subdivision
Leadership Properties partners Bob David and Julie Vaught — the folks currently developing the gated Scissortail neighborhood on West Pleasant Grove Road west of Shadow Valley Country Club — recently closed a seven-figure deal to kickstart their next residential project in Benton County.
David, Vaught and partners Chris McDaniel and Heath Taylor paid $1.01 million for 69.9 acres on South Morning Star Road in early June. A company controlled by Jeff Kuhlman and Mike Payne was the previous owner.
Simmons Bank in Rogers provided financing with a one-year loan of $750,000.
The land is south of the Summerlin subdivision.
David told Whispers he and his partners are planning a 197-lot neighborhood at the site. The intention, he said, is to build custom homes that sell in the range of $325,000 to $385,000.
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