100 replies to this topic

[Architect]

Aporkalypse, on Sep 24 2008, 07:24 PM, said:

The Lafayette project badly needs to go apartment and work out some sort of parking deal.

It's also my opinion that they didn't make the units "hip" enough - they are fairly traditional.

[theman]

Architect, on Sep 24 2008, 11:38 PM, said:

It's also my opinion that they didn't make the units "hip" enough - they are fairly traditional.

It's not in a hip area either.  If Main St. was undergoing the development that the River Market has been going through, it would help sales.  Imagine if Stephens was developing the Center Theater and the Rep was bulding a new facility, that would help Lafayette out.

[skirby]

This is the old Federal Reserve Building being converted to the high school for the E-Stem Charter School. It is across 3rd from the school which is located in the old Arkansas Gazette Building.

[Architect]

skirby, on May 16 2009, 10:07 PM, said:

This is the old Federal Reserve Building being converted to the high school for the E-Stem Charter School. It is across 3rd from the school which is located in the old Arkansas Gazette Building.

Beautiful building....

[skirby]

The Vertical Lofts.



Former Dillard's HQ being redeveloped for the state. Addition space is being added at the rear of the building.

[bchris02]

The former owner of Easy Street Piano Bar is opening up a new piano bar/restaurant in the former location of The Factory. Unlike Easy Street this one will not be marketted as a gay bar though it will still be gay friendly. The bar/restaurant will have a 1930s speakeasy theme and from what I have seen of the construction looks to be a very nice and welcome addition to downtown LR. It is supposed to open in August.

[Arkansasfiddler]

skirby, on May 16 2009, 11:07 PM, said:

This is the old Federal Reserve Building being converted to the high school for the E-Stem Charter School. It is across 3rd from the school which is located in the old Arkansas Gazette Building.

I've seen the plans and a rendering of the interior. It looks like it will be pretty cool. The adjacent building is attatched and will also be part of the school. Theres a large 2 story lobby that has a lot of decorative work that has been covered up over the years and is going to be re-exposed. I saw they're doing some demo work already. It'll be exciting to have a solid school base in downtown.

[skirby]

The old but not as old  as the one above federal reserve building is getting a new entry way. Another empty building is now being occupied.

[LIT uPP]

Word on the street is that Stephen L. LaFrance Pharmacy Inc., owner of USA Drug, is wanting to buy the Victory Building, a couple of blocks east of the State Capitol from the Arkansas Teachers Retirement System for less than half of the cost to build it.  This is the 10-year-old building where KARK Channel 4 is located � among other tenants.  Currently, it is 85 percent occupied.  No telling if this is for investment purposes only.  Other potential buyers are also rumored to be interested in the building.

[LRguy21]

Any downtown news?

[LIT uPP]

Tower Investments, the real estate firm from Woodlands, California, has decided to sell the Boyle, Arkansas, M.M. Cohn, and YMCA buildings in downtown Little Rock and focus their attentions on more promising markets in which they hold development property.  In the mid-2000s the company purchased those properties and the Lafayette building.  They renovated the Lafayette into a mixed-use condo/office building and had plans to do the same with the other buildings.  As most of us know, the Boyle, Arkansas, Cohn, and Lafayette buildings were to become the “Lafayette Square” development.  The growth and development of the River Market District has never spread to the Main Street corridor, as Tower had anticipated, and now they are giving up on their plans.  Even if the recession had not materialized, I doubt that Main Street would have seen the redevelopment that the River Market has, and I seriously doubt it will happen within the next ten years.

As an interesting side note: The Wall Street Journal focused on the Little Rock real estate market a few years ago and mentioned Tower’s plans for Lafayette Square.  They even included the artist’s rendering of the finished product.

[Architect]

LIT uPP, on 23 June 2010 - 08:24 PM, said:

Tower Investments, the real estate firm from Woodlands, California, has decided to sell the Boyle, Arkansas, M.M. Cohn, and YMCA buildings in downtown Little Rock and focus their attentions on more promising markets in which they hold development property.  In the mid-2000s the company purchased those properties and the Lafayette building.  They renovated the Lafayette into a mixed-use condo/office building and had plans to do the same with the other buildings.  As most of us know, the Boyle, Arkansas, Cohn, and Lafayette buildings were to become the “Lafayette Square” development.  The growth and development of the River Market District has never spread to the Main Street corridor, as Tower had anticipated, and now they are giving up on their plans.  Even if the recession had not materialized, I doubt that Main Street would have seen the redevelopment that the River Market has, and I seriously doubt it will happen within the next ten years.

As an interesting side note: The Wall Street Journal focused on the Little Rock real estate market a few years ago and mentioned Tower’s plans for Lafayette Square.  They even included the artist’s rendering of the finished product.

Not surprising whatsoever.  I would also go as far as to say that it had a lot to do with the type of product they offered as it did the location, though location (and lack of viable parking) was by far their main issue.  It's too bad that it hasn't worked out well for them.

[LRguy21]

Hopefully a local developer will pick it up and know how to make it work. Maybe apartment homes? Also, I think that there needs to be some focus on the Main Street area, but I think it willl take somebody like Stephens or somebody like that.

What about the extension of the trolley down main st?

[skirby]

LRguy21, on 24 June 2010 - 05:50 PM, said:

Hopefully a local developer will pick it up and know how to make it work. Maybe apartment homes? Also, I think that there needs to be some focus on the Main Street area, but I think it willl take somebody like Stephens or somebody like that.

What about the extension of the trolley down main st?

That's the problem there is no focus for Main St. or what it should become. I don't know if Stephens is that interested anymore. Although he is a major property holder time slips away on vacant buildings and they end up being turned into vacant lots. Look at the difference  across the River on Main. There is a concept of what the future might hold and the stakeholders are working towards that goal. The city as well as private investors are working together and I don't see that happening in LR.

As for the trolley that will be a few years down the line because the next expansion will be in NLR.

I think any type of living on Main will only come after other projects are developed. What I don't like to see are vacant buildings waiting to be redeveloped. Why don't developers find short term uses for these buildings. An example would be to turn the Arkansas Building at 6th and Main into studios for visual artists. Being across the street from the REP would make a good fit. I understand the building's interior is in pretty good shape. Also, turn the Boyle Building into office space for start ups. There might even be some type of grant money available for something like this. Both of these would create an environment of activity that an office building for state workers does not.

That's my two cents on Main.

[ndark]

Saw some people putting a sold sign up on the old YMCA Building a couple days ago.  I have seen a lot of people looking around it and going in and out in the last month or so.  Any word on who might have bought it and for what?

[skirby]

ndark, on 18 August 2010 - 06:49 AM, said:

Saw some people putting a sold sign up on the old YMCA Building a couple days ago.  I have seen a lot of people looking around it and going in and out in the last month or so.  Any word on who might have bought it and for what?

Arkansas Business reports that the parking lot across 6th Street has been purchased from the YMCA owners for $925,000. The new owners are Buckhead Investments LLC of Atlanta. To me paying almost a million dollars for a parking lot is a little excessive unless you have plans to do more than collect parking fees.

[skirby]

ndark, on 18 August 2010 - 06:49 AM, said:

Saw some people putting a sold sign up on the old YMCA Building a couple days ago.  I have seen a lot of people looking around it and going in and out in the last month or so.  Any word on who might have bought it and for what?

The Arkansas Times is reporting the YMCA building  has been sold but offers no further information at this time.

[skirby]

The former KARK-TV building located on Third between Louisiana and Center has been sold. The 107,000 sq. ft. build will be demolished and used as a parking lot. The new owners say their long term plans are to build an office building with a parking deck. I always thought this would be a good location for a hotel/condo project because of its location. Just two blocks from the Peabody and Convention Center, to the north, and two block to Capitol Avenue, to the south. It is also located within one block of the River Rail. For a visitor it would be an easy walk to the CBD or to the River Market on foot or by the trolley.

[thewizard16]

skirby, on 19 August 2010 - 12:59 PM, said:

The former KARK-TV building located on Third between Louisiana and Center has been sold. The 107,000 sq. ft. build will be demolished and used as a parking lot. The new owners say their long term plans are to build an office building with a parking deck. I always thought this would be a good location for a hotel/condo project because of its location. Just two blocks from the Peabody and Convention Center, to the north, and two block to Capitol Avenue, to the south. It is also located within one block of the River Rail. For a visitor it would be an easy walk to the CBD or to the River Market on foot or by the trolley.

That's disappointing. I'm not sure I see the point in demolishing it right away- if it's the building I'm thinking of, it's really not in that bad of shape- you'd think they'd have a more suitable short term use than a parking lot. Oh well- as long as the long-term plans for some density play out in that spot, that'll be good for that area of downtown. Maybe the parking lot across the street from it could still be a hotel/condo project someday. I do agree that the position seems great for it.

[skirby]

The old KARK-TV building, not long for this world. It is located across Louisiana from the new eStem high school.