On Tuesday morning, about 200 suit-clad businessmen and women attended an announcement at Hendrix Village to hear plans for a 30,000-square-foot Market Square South will be the site of a new commercial development.

The development will include The Purple Cow Restaurant, Delta Trust and Bank and student residences on the upper two floors.

The sections of the Village should be completed by the end of the year, and the two businesses are expected to open in early 2014.

Delta Trust and Bank offers financial guidance in banking, trust, investments, insurance and home financing. The group has locations in central, northwest and southeast Arkansas.

French Hill, CEO of Delta Trust, said the bank is thrilled about its new home in Conway.

"The Village has a very dynamic atmosphere, and we are working to create an innovative branch that mimics the feel with the latest technology and best customer service possible," Hill said.

Unlike a traditional commercial lease arrangement, the building’s ownership will be shared. Hendrix will own the upper two floors and the investor group, including the ground floor tenants, will own the ground floor.

Phillip Tappan, CEO of Purple Cow, said "Our Conway customers have requested we locate a store here, and we’ve been working for the past four years to find the ideal location. Hendrix has delivered all the right attributes for Purple Cow to bring great food, shakes and fun for the young of all ages."

The Purple Cow, a favorite for purple milk shakes, and old fashioned sundaes and ice cream sodas, is an Arkansas-based chain modeled after classic diners of the ’50s.

At Tuesday’s gathering, the restaurant served cups of Yarnell’s ice cream, an Arkansas product. They served lines of folks happy to be trying cooling ice cream on a hot morning.

Speakers at Tuesday’s gathering were French Hill, CEO of Delta Trust; Philip Tappan, president of Purple Cow; David Knight, chair of the Hendrix Board of Trustees and of the Village at Hendrix Board; W. Ellis Arnold III, acting president of Hendrix College; Ward Davis, CEO of the Village at Hendrix, a New Urbanist neighborhood adjacent to the Hendrix campus; and Tab Townsell, Conway mayor.