The airport buys land to develop
TEXARKANA, Arkansas – Texarkana Regional Airport board members approved the purchase of 38 acres of land for aviation development at a meeting Thursday morning.
The purchase price is $ 323,000 and the airport consideration is $ 73,000. Funding from the Federal Aviation Administration and the Arkansas Department of Aeronautics will be used to purchase the land.
Airport officials hope to have air cargo operations and other aviation developments on the ground, which is adjacent to the airport.
The 38 acre land valued at $ 9,960 per acre. However, the asking price for the land is $ 8,500 per acre.
Richard Reynolds, a local real estate broker whose clients currently own the land, said its topography was high and the lumber was valued at $ 32,760.
The purchase of the land must now be approved by the Texarkana Texas City Council and the Texarkana Arkansas Board of Directors, which jointly fund the local airport.
In other areas, Paul Mehrlich III, executive director of Texarkana Regional Airport, said the number of airport operations had returned to 2019 levels with an increase in military air traffic.
Commercial air travel from Texarkana Regional Airport is also increasing.
In April 2019, 3,100 people boarded a commercial flight to Texarkana. That number fell to an all-time low in April 2020 with 219 boardings at the start of the pandemic. But last month, the airport reported about 2,600 people boarding a plane, Mehrlich said.
He also said that while the airport currently has three inbound and outbound commercial flights per day, American Airlines is planning and, at least at this point, reserving four daily flights to the airport in August.