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Hotel and Apartment Projects in the Downtown LR Area


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On 8/18/2019 at 11:24 PM, theman said:

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.

Vo Yeu Asian Cuisine will be opening in the old Southern Gourmansin space.

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Taken from 4th next to the clock tower at the River Cities Travel Center. The Hilton Garden Inn has been topped out and the main entrance will be facing 4th in the middle of the block.  From the rende

The Holiday Inn Express in the East Village is now open. From Beechwood Pinnacle Hotels.

I spoke to someone close to the Aloft project and they have recently restarted the project.  CHG is doing its best to acquire the MM Cohn Building next door to look at constructing another Starwood ho

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I thought I would give an update on any activity  in this area.

Hotels:

The AC is now scheduled to open in March, 2020.

The Holiday Inn Express in East Village is a work in progress.

Apartments:

1424 Main in SOMA should be open sometime in  2020 (16 units).

A new project going through the planning and permit stage is a condo development to be located on a vacant lot at 10th and Rock (18 units).  This location is within a block of the on going redevelopment of the Arkansas Arts Center.

The outskirts of the East Village will soon see the opening of the apartments being constructed the Rock City Yacht Club (168 units).

While not in downtown Little Rock the Vue on Riverfront is under construction across the river west of Dickey -Stephens Park (244 units).

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37 minutes ago, LRretail said:

Redevelopment of the Pyramid Life Building at 319 2nd Street has begun.  Plans are for a restaurant on the ground floor and loft apartments in the remainder of the building.  

Wow...that's such a cool building!  I had noticed the fencing and had been meaning to post here to see if anyone knew what was being done.  Excellent news.

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1 hour ago, LRretail said:

Redevelopment of the Pyramid Life Building at 319 2nd Street has begun.  Plans are for a restaurant on the ground floor and loft apartments in the remainder of the building.  

If you are talking about the Pyramid Life Building at 221 W 2nd Street then the  apartments have been finished for sometime. They are known as the Residences 221 .

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30 minutes ago, skirby said:

If you are talking about the Pyramid Life Building at 221 W 2nd Street then the  apartments have been finished for sometime. They are known as the Residences 221 .

This is not the same building.  219 W 2nd is a narrow, six-story building a block west of Residences 221.  That being said, I wasn't even aware of Residences 221!  Looks very cool.

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7 hours ago, LRretail said:

Redevelopment of the Pyramid Life Building at 319 2nd Street has begun.  Plans are for a restaurant on the ground floor and loft apartments in the remainder of the building.  

Is this not the Paramount Life Building and also the building which suffered from part of it's facade falling onto the sidewalk in 2018?

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On 1/7/2020 at 8:28 PM, skirby said:

Is this not the Paramount Life Building and also the building which suffered from part of it's facade falling onto the sidewalk in 2018?

From my recollection there was a little decorative piece that said Paramount Life on ground floor but it's being referenced as Pyramid Life Building at this point.  I do believe something happened to the facade a while back but judging from the activity around the structure, it looks like the entire exterior is being addressed.  This building has been vacant for some time.  Over 30 years I'm sure.  It's been vacant ever since I've been doing business downtown.  I'm glad it's being redeveloped rather than being torn down into another parking lot which is what the lawyer next door wanted to do with it.  

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Arkansas Business has an article about hotel development and  talks about the bottom half of the former Lafayette Hotel returning to being a hotel.  With it being just south and across the street from the newly opened AC it just might work out. I don't think much work would have to be done to the lobby for the hotel to open.

Picture from the Lafayette Building website.

zRJpFn.jpg

 

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Arkansas Business has an article about hotel development and  talks about the bottom half of the former Lafayette Hotel returning to being a hotel.  With it being just south and across the street from the newly opened AC it just might work out. I don't think much work would have to be done to the lobby for the hotel to open.
Picture from the Lafayette Building website.
zRJpFn.jpg&key=ac276dab3466c056ea7249352d0c8197ba73e0f04f3a6fe3149caf3845f110c1
 

That would be awesome.


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12 hours ago, skirby said:

Arkansas Business has an article about hotel development and  talks about the bottom half of the former Lafayette Hotel returning to being a hotel.  With it being just south and across the street from the newly opened AC it just might work out. I don't think much work would have to be done to the lobby for the hotel to open.

Picture from the Lafayette Building website.

zRJpFn.jpg

 

I read that article too.  It will be interesting to see if this comes to fruition since the article said the deal may be done in a couple of weeks.  The article also talked occupancy rates which was 55.8% in 2019 for the LR-NLR market which seems low but revenue was up. 

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I read that article too.  It will be interesting to see if this comes to fruition since the article said the deal may be done in a couple of weeks.  The article also talked occupancy rates which was 55.8% in 2019 for the LR-NLR market which seems low but revenue was up. 

That whole article implies that the LR hotel market is quite hot, bucking their trend of significant revenue/room growth over the past 7 years (or so).


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