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Hotel and Apartment Projects in the Downtown LR Area


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Hotel projects announced or under construction:

 

Hilton Homewood Suites: 115 rooms announced for Fourth St and River Market Avenue

 

Hilton Garden Inn: 135 rooms announced for Fourth and Cumberland $16 million

 

Boyle Building redevelopment  Main and Capitol.

 

Apartment projects announced or under construction:

 

K-Lofts 32 units under construction 315 Main

 

Main Street Lofts: 70 units under construction 500 block Main

 

Capitol Lofts: 56 units announced 200 block Capitol

 

MacArthur Commons: 84 units under construction (new) East Capitol and River Market Avenue

 

The Magnolia: 12 units redevelopment of the Voss apartment building. East Capitol and Rock

 

 

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  • 3 weeks later...

Hotel projects announced or under construction:

 

Hilton Homewood Suites: 115 rooms announced for Fourth St and River Market Avenue

 

Hilton Garden Inn: 135 rooms announced for Fourth and Cumberland $16 million

 

Boyle Building redevelopment  Main and Capitol.

 

Apartment projects announced or under construction:

 

K-Lofts 32 units under construction 315 Main

 

Main Street Lofts: 70 units under construction 500 block Main

 

Capitol Lofts: 56 units announced 200 block Capitol

 

MacArthur Commons: 84 units under construction (new) East Capitol and River Market Avenue

 

The Magnolia: 12 units redevelopment of the Voss apartment building. East Capitol and Rock

Boyle Building has been announced as the site of an Aloft Hotel. It will be developed into a 140 room hotel along with a coffee shop and restaurant. Total cost will be around $18 million.  Construction to start in the fall and opening will be  in January 2016.

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  • 3 months later...

MacArthur Commons has started but has been downsized from the previous announcement. It will now have 59 units instead of 84 and the restaurant space has been left out.  It will also be 3 instead of 4 floors.

I find it unusual that MT did not announce the start of construction of this project. Maybe they did not want to say a lot about the  downsizing. I really don't see this project as the best use for the site considering the cost of the property and the cost to demolish the old Arkla building.

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I find it unusual that MT did not announce the start of construction of this project. Maybe they did not want to say a lot about the  downsizing. I really don't see this project as the best use for the site considering the cost of the property and the cost to demolish the old Arkla building.

 

I had heard (or read?) that there were much larger plans for this site, and that demand and/or potential tenants fell through.  I agree though...there are only so many "core" blocks in this district that you hate to see one underutilized.

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MT's 2009 vision for this block was far more ambitious than the reality taking place today. You can view that vision at the following link:

http://www.oxleyartgraphics.com/LRRiverMarket-MTMap.html

I wish they would wait a few years for the market to improve in order to announce a more impactful project - if they can regain their financial footing. They must be very disappointed with the current situation, as we all seem to be.

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I had heard (or read?) that there were much larger plans for this site, and that demand and/or potential tenants fell through.  I agree though...there are only so many "core" blocks in this district that you hate to see one underutilized.

When this project was announced it was for 84 units and included a restaurant./cafe. Maybe the project was too small to begin with. What if it would have been 120/150 units and a few floors of office space? The higher density the greater demand for places to gather.

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They may be gun shy with River Market Tower having so many units still not sold and the fact that a lot of apartments are about to come online or are planned in the Main Street corridor and the CBD.  They may not want a lot of apartments in the development not rented so they reduced the scope.  This may be the most underwhelming of all of their developments. 

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  • 5 months later...

Boyle Building has been announced as the site of an Aloft Hotel. It will be developed into a 140 room hotel along with a coffee shop and restaurant. Total cost will be around $18 million.  Construction to start in the fall and opening will be  in January 2016.

Starwood Hotels now list the Aloft opening in July 2016. It also list a Four Points by Sheraton-Medical Center opening at the same time.

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  • 1 month later...

MT announced they are purchasing property in the 500 block of Rock to build a 36 unit apartment complex. Also, included in the plans is to turn the American Legion building facing Capitol into space for a   restaurant .

 

I observed engineers pulling core samples from this property last Thursday.  Here is an article from Saturday's Democrat supporting the above: http://www.nwaonline.com/news/2015/mar/14/new-lr-apartments-in-works-20150314/ 

 

The article states that MacArthur Commons should be open by summer, but it sure doesn't look far enough along to make that deadline.  They only finished the roof two or three weeks ago.

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  • 4 weeks later...
  • 4 weeks later...

Isn't the southeast corner where they just built the parking deck for the Homewood Suites?  And the southwest corner is the bus terminal.  The northwest corner is the one story row of offices.  Is that where it is going?

This modified screenshot from Google Maps should help get everyone's bearings a bit.

post-12982-0-09158700-1430852924_thumb.j

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  • 5 weeks later...

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