NORTH LITTLE ROCK, Ark. (KTHV) -- A new mixed-use space is coming to North Little Rock's riverfront.

40-acres of land has been purchased overlooking the Arkansas River. The details aren't clear as to what developers are planning, but neighbors in the area said they are looking forward to seeing a boost in the economy.

Jim Jackson, a developer for Rockwater Village, is ready for growth in the area. Two developers are now owners of land off River Road about a half a mile down the street.

"We're very very excited about the 40-acre purchase about a half mile west of us,” Jackson said. "I'm excited about seeing their plans. I am sure they will have a lot of features that will take advantage of the bike cycle trail, being outside and the new urbanism lifestyle.”

A multi-use space for housing, retail and entertainment will be the view seen from across the river. Jackson said with the bike trail, local parks, and the view makes this area a heavy target for investors.

"The development here has been a big economic boost to the construction industry,” Jackson said.

Jackson explained it’s a continuation of people wanting to move to the area. Already more than $35 million has been invested in this region alone, and the 40 acres will only increase that value. Although developers aren't sure exactly what will be built, they are sure of one thing you'll get a great view of the state capital.

Couple Wayne and Stephanie Burke have lived off River Road for more than 15 years. It’s right across the street from the newly purchased land. They agree they could use the company, but a big concern is the traffic.

"It’s always been kind of like you were down in the country down here, and that may change,” Wayne said. “It used to be that you hardly have to pull out of your drive and look either way because there were no cars down here.”

Now they wait to see what's to come across an area that been vacant for more than 40 years, as they plan for growth.

"It would really help the city and everything for people to live and move in and start really developing this area,” Stephanie said.