Hotel and Apartment Projects in the Downtown LR Area

[skirby]

On 7/6/2017 at 11:23 AM, skirby said:

Time for update.

Hilton Garden Inn: work continues with late summer opening reported by the developer. Picture of the rooftop bar/patio from Pinnacle's website.

Boyle Building Aloft: developer is looking to reduce the number of hotel rooms an replace with apartment units.

Holiday Inn Express: still listed on Pinnacle's website as a future project.

K-Lofts: should be opening soon.

Main Street Lofts: construction should start up again at anytime.

Capital Lofts: now scheduled to be a hotel project.

The Clayton on Scott(Scott Street Flats): pre-leasing and will be opening in September.

Donaghey Building: nothing further on this project.

The Paint Factory: work continues on this project.

The Artisan on Collins: no further word.

Byrd Street Lofts: don't know anything about this project but AMR is showing a rendering of a project to be located next to Lost Forty.

If Moses Tucker follows their past project announcements something new should be coming before the end of the year.

 

End of year update:

Hilton Garden Inn is now open.

Boyle Building's status remains unknown.

The Donaghey Building's status remains unknown.

Holiday Inn Express is  still listed on developers website.

K-Lofts, now known as Mulberry Flats, is now open.

The Clayton on Scott is now open.

12 Star Flats(12 units) at the Paint Factory should open next month.

The 11 units in the Rose Building, now under redevelopment, should open after the first of the year.

As you can see there is very little under development at this time.

 

 

[arky]

2 hours ago, skirby said:

End of year update:

Hilton Garden Inn is now open.

Boyle Building's status remains unknown.

The Donaghey Building's status remains unknown.

Holiday Inn Express is  still listed on developers website.

K-Lofts, now known as Mulberry Flats, is now open.

The Clayton on Scott is now open.

12 Star Flats(12 units) at the Paint Factory should open next month.

The 11 units in the Rose Building, now under redevelopment, should open after the first of the year.

As you can see there is very little under development at this time.

 

 

It does seem as if things have really slowed down as of late which is a little surprising to me.

It's definitely time for a breather on hotel development but occupancy seems to be very high in newly constructed residential - is it the difficulty of attaining sites that's holding back more development? 

[skirby]

On 2/17/2017 at 3:07 PM, skirby said:

The Capitol Lofts will be moving from an apartment development to a hotel development. The Hall-Davidson building is under contract, which should close in either April or May. The change over to a hotel will include a restaurant, bar and common area. The developer is in talks to bring a  boutique hotel  with a redevelopment of the building taking between 12 and 18 months. The project also includes the annex next door. When this is completed the entire block facing Capitol on the south side will have been redone. The Sterling building next door to these two is going under renovation by one of the partners of Rock Capital Real Estate, which is the developer on the hotel project.

Construction fencing is in place for this project.

Edited January 22, 2018 by skirby

[skirby]

On ‎2‎/‎23‎/‎2017 at 3:05 PM, skirby said:

In the review of downtown development by the Arkansas Times there is a section on Moses Tucker. It states that the property MT bought, that was to be the Vib Hotel development, might turn out to be a 6 story mixed-use building containing ground floor retail and apartments above. With the Clayton on Scott apartments opening in the summer this might be MT's next project.

There is a plumbing permit for 221 East 6th which is the location for the above property. The submitter is Jimmy Moses and the name of the property is The Elliot. 

[arky]

That's great news - I've long thought downtown needed to focus on 3 -6 story infill developments vs. the 15+ story condo towers that were the rage years ago. 

An extended area well connected by a grid and filled with 3 - 6 stories is an extremely walk-able, dense environment.  See DC,  lots of SF, etc - you don't have to look like Manhattan to have a great urban neighborhood.

[skirby]

On 1/22/2018 at 11:51 AM, skirby said:

Construction fencing is in place for this project.

The project will be branded as an AC Hotel and should be open next summer(2019).

[Arkanzin]

That's cool.  I'm not familiar with the AC Hotel concept from Marriott.  There are only 75 or so according to their website.  

[Architect]

3 hours ago, Arkanzin said:

That's cool.  I'm not familiar with the AC Hotel concept from Marriott.  There are only 75 or so according to their website.  

Very cool...I checked out their site.  It looks very slick and promising, and would appear to be a fairly exclusive (upper market) "flag" from Marriott.  The closest or most similar markets at a quick glance are OKC and Des Moines.  It looks like the brand is international as well.

[comreguy]

2 hours ago, Architect said:

Very cool...I checked out their site.  It looks very slick and promising, and would appear to be a fairly exclusive (upper market) "flag" from Marriott.  The closest or most similar markets at a quick glance are OKC and Des Moines.  It looks like the brand is international as well.

Much better than Aloft...

[skirby]

2 hours ago, Architect said:

Very cool...I checked out their site.  It looks very slick and promising, and would appear to be a fairly exclusive (upper market) "flag" from Marriott.  The closest or most similar markets at a quick glance are OKC and Des Moines.  It looks like the brand is international as well.

If you want to see an AC that just opened up with new construction go over to the Spartanburg, S.C. topic in Urban Planet and look under AC Hotel on West Main.

[Architect]

Much better than Aloft...

Maybe. But I’d still like to see an Aloft.


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[theman]

17 hours ago, Arkanzin said:

That's cool.  I'm not familiar with the AC Hotel concept from Marriott.  There are only 75 or so according to their website.  

AC Hotel is brand that started in Europe and Marriott brought to the US a few years ago.

[arky]

Nice to see VCC involved as well. Unlike several announced projects this should get completed. 

[skirby]

On 12/29/2017 at 1:55 PM, skirby said:

End of year update:

Hilton Garden Inn is now open.

Boyle Building's status remains unknown.

The Donaghey Building's status remains unknown.

Holiday Inn Express is  still listed on developers website.

K-Lofts, now known as Mulberry Flats, is now open.

The Clayton on Scott is now open.

12 Star Flats(12 units) at the Paint Factory should open next month.

The 11 units in the Rose Building, now under redevelopment, should open after the first of the year.

As you can see there is very little under development at this time.

 

 

First quarter updates:

Boyle Building status remains unknown.

The Donaghey Building should see work start this quarter.

Holiday Inn Express is still listed on the developers website and renderings have been posted. Postings state it will be coming soon.

12 Star Flats will see tenants moving in this weekend.

Apartments in the Rose Building on Main Street are still under construction.

Work also continues on the AC Hotel at Capitol and Louisiana.

 

[Architect]

1 hour ago, skirby said:

First quarter updates:

Boyle Building status remains unknown.

The Donaghey Building should see work start this quarter.

Holiday Inn Express is still listed on the developers website and renderings have been posted. Postings state it will be coming soon.

12 Star Flats will see tenants moving in this weekend.

Apartments in the Rose Building on Main Street are still under construction.

Work also continues on the AC Hotel at Capitol and Louisiana.

 

I may have commented earlier, but I didn't realize what a significant win it is to get the AC Hotel (by Marriott)...having studied this a bit, that's a significant "flag" and will add a more upscale/modern option to downtown hotels.  They're only located in top markets.  I also like that it's in the hear of the Financial Quarter.  I've noticed construction is well underway, and I'm excited to see this come online.

[arky]

Has anyone seen occupancy or rate numbers for Little Rock lately? I was under the impression after the spurt of hotel openings in recent years that occupancy was a bit lower than what would drive new development. 

Are we at risk of becoming saturated, or does the downtown sub-market outperform the market in general? 

[ndark]

Where is the Holiday Inn going?

[skirby]

On 1/22/2018 at 11:51 AM, skirby said:

Construction fencing is in place for this project.

Some interesting detail that was hidden behind the panels.

[skirby]

On 4/13/2018 at 11:10 AM, skirby said:

First quarter updates:

Boyle Building status remains unknown.

The Donaghey Building should see work start this quarter.

Holiday Inn Express is still listed on the developers website and renderings have been posted. Postings state it will be coming soon.

12 Star Flats will see tenants moving in this weekend.

Apartments in the Rose Building on Main Street are still under construction.

Work also continues on the AC Hotel at Capitol and Louisiana.

 

Not much to update and no new projects have been announced.

12 Star Flats now open.

Main Street Lofts are now available.

In a recent interview with Jimmy Moses he stated that LR would see new condo development within the next 36 months.

Edited May 7, 2018 by skirby

[skirby]

Update view on the AC.

[Arkanzin]

7 hours ago, skirby said:

Update view on the AC.

That is such an attractive building.  Can't wait to see what it looks like finished. 

[theman]

Any word on when the AC by Marriott project will be completed? It will be a great addition to the downtown hotel scene.

[skirby]

Work continues on the AC. Looks like most of the window work is done and although it is had to see an awning  is being installed for the entrance .  It is behind the first tree.

 

 

[arky]

I've been spending a lot of time downtown lately. I actually feel like it's better positioned than ever before despite the slow down in development. The AC hotel's undoubted success will begin to pull more activity out of the RiverMarket / Main Street corridors. The Lafayette building's conversion will only continue to serve these purposes. 

That said, I'm perplexed with all the surface parking. There's little doubt there's more demand for apartments, new office products, etc - but I'm assuming the revenue from surface parking makes it uneconomical to convert at this point? Or are these owners just content to collect parking revenue while expecting a big price for their land? A price big enough that makes it not make sense to develop it? 

It's just a little odd to me.  MosesTucker and others see 90% occupancy on new apartments which is a clear indicator the market would support more of a good product. What's the hold back?

[theman]

Apparently the AC by Marriott developers are going before the city board of directors this week to get approval to use street right of way for a valet parking lane according to the Arkansas Times.  Hopefully we’ll get an update soon on when it plans to open.

Also the restaurant transitions section this past Thursday said that another restaurant was going into the former Southern Gourmansin space next door to the AC by Marriott.