Cooper closing local home sales office
Posted on Wednesday, July 2, 2008
URL: http://www.nwanews.com/bvwv/Business/6654/
If there’s a company whose name is synonymous with Bella Vista, its Cooper Communities Inc.
After all, it built Bella Vista.
But with the downturn in the housing market, even Cooper Communities, a 56-year-old, family-owned company that’s built communities in Arkansas, Missouri, Tennessee, South Carolina and West Virginia, has had to take a step back.
Last week, CCI confirmed it will close its home-sales office, on the northwest corner of U. S. Highway 71 and Riordan Road, on July 3.
According to Jill English, CCI senior vice president of marketing, Cooper’s land development, timeshare and commercial development divisions will remain intact in Bella Vista. Fourteen employees worked at the home-sales office.
“ Cooper cares very much for its people, ” English said. “ It’s always difficult when people are affected. This was a business decision. Cooper Communities had to reduce expenses in its underperforming assets, while focusing on its markets that make sense. ”
English did not expand on which of CCI’s other communities, if any, are experiencing similar cutbacks. CCI scaled back staff significantly at periods in the 1980 s and 1990 s. The company hasn’t ruled out the possibility of reopening the Bella Vista office in the future.
For Margie Ivy, a real-estate agent with CCI for more than two decades, and her co-workers at the homesales office, it’s an emotional time.
“ It’s going to be hard, ” Ivy said. “ This was a surprise. We’ve downsized over the past few years. That’s what you have to do in this line of work. But it’s still hard to believe the office is closing altogether. ”
CCI is widely recognized as one of the most fiscally responsible developers of planned communities in the nation.
“ It’s very important for everyone to understand our warranties in Bella Vista will be honored, ” English said. “ Cooper Communities is not going away. It’s earned the reputation it has by making smart business decisions. We’re just scaling back where we need to right now. We’re not going away. ”
In addition to its stake in Bella Vista, CCI is responsible for Cherokee Village in northeast Arkansas; Hot Springs Village in southwest Arkansas; Sienna Lake in Little Rock; Cross Creek in Rogers; Creekmoor in Raymore, Mo.; Stone Bridge Village in Branson, Mo.; Tellico Village in Loudon, Tenn.; Savannah Lakes Village near McCormick, S. C.; and Glade Springs Village in Daniels, W. Va.
The company’s founder and namesake, John A. Cooper Sr., is widely credited for creating the concept of the modern recreation-retirement community when he opened Cherokee Village in 1954. He marketed home sites in the community to people by promoting amenities — golf, lakes, relaxed living. He offered free vacations to the Arkansas Ozarks with one string attached: take a home-site tour to pick out a lot to buy.