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Hotel and Apartment Projects in the Downtown LR Area

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MacArthur Commons is scheduled to open in September. Also, work has started on the old Arkansas Democrat building on Main Street known as the Fulk-Democrat Building. It will house 8 loft apartments and Raimondo Winery on the ground floor. Look for an opening in the spring of 2016.

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Well,it looks like the Hilton Garden Inn Downtown/Airport is a go according to plumbing permits being submitted by Pinnacle Hotel Group. It will be located at 322 E 4th Street. It will be less than a block to the west of the new Homewood Suites. I don't know if I'd agree to bunch all those hotels together like that, but if the rooms are needed, be my guest. According to PHG's website, they also plan a Holiday Inn Express Downtown as well.

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I've scheduled a conference at the end of September.  The conference is on a Monday and Tuesday at the Marriott.  Apparently the Marriott is nearly sold out on the Sunday night before the conference.  I never thought that a Sunday night would be a busy night in Little Rock as there aren't any football games or concerts.  #schedulingproblems #conferenceheadaches  While that doesn't mean the other hotels in downtown Little Rock are full, it does show that at least one hotel in Little Rock is busy.

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I've scheduled a conference at the end of September.  The conference is on a Monday and Tuesday at the Marriott.  Apparently the Marriott is nearly sold out on the Sunday night before the conference.  I never thought that a Sunday night would be a busy night in Little Rock as there aren't any football games or concerts.  #schedulingproblems #conferenceheadaches  While that doesn't mean the other hotels in downtown Little Rock are full, it does show that at least one hotel in Little Rock is busy.

I was looking a few weeks ago for a Sunday night at the end of August and it was booked up.

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MT has broken ground on their newest project. Legion Village will be a 36 unit apartment complex along with the old Legion building containing 7,500 sq ft of restaurant/commercial space.  The apartments will face Rock between Capitol and 6th with  the opening planned for May 2016.

 

9yBOmO.png

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MT has broken ground on their newest project. Legion Village will be a 36 unit apartment complex along with the old Legion building containing 7,500 sq ft of restaurant/commercial space.  The apartments will face Rock between Capitol and 6th with  the opening planned for May 2016.

 

9yBOmO.png

Location of the apartments is now a parking lot.

uap8ka.jpg

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I heard they had to reconfigure the space because the swimming pool could not go where it was planned.  Haven't heard anything else.  

I guess we now know it was not a Ruth's Chris that was going in the Aloft.  

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Yeah they're talking about maybe putting that Ruth's Chris by the Doubletree. Guess we'll see.

The chances of Ruth's Chris being approved for that location by the city is slim to none.

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Why so?

Philosophically, it's a public plaza (admittedly in need of an update) that serves as a fore-court to the soon-to-be renovated DoubleTree and Robinson Center...it would also entirely conceal the entry to the DT.  Technically, it's fraught with problems, not the least of which is that the structure of the deck below would have to support it, and who knows what complexities lie therein.  As the article stated, the city owns the property and they're not super receptive to the idea.

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Good points. Seems like they would just look towards west LR.

Actually no.  The Ruth's Chris representatives were very clear:  they appeal to the business traveler, and they rely on locating where they are...they don't depend on the local market residents per se.  So west LR would be out of the question.

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I would say that Downtown LR is the best location for them.  But they want $900k to subsidize part of their build out from the City of LR or whoever ends up being their landlord.  I don't know of anyone that is going to do that for a restaurant they don't own.  

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Not sure if this fits here, but according to the plumbing permits, it looks like there will be a new hotel coming to 1100  S.University. It's the location of the old Brandon Warehouse Furniture. It will be a Staybridge Inn & Suites which is a part of the IHG (Holiday Inn) family of brands. Another hotel, in my opinion, is needed in that area. 

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Not sure if this fits here, but according to the plumbing permits, it looks like there will be a new hotel coming to 1100  S.University. It's the location of the old Brandon Warehouse Furniture. It will be a Staybridge Inn & Suites which is a part of the IHG (Holiday Inn) family of brands. Another hotel, in my opinion, is needed in that area. 

They've talked about this hotel for a long time.  I hope they make this happen.  It would improve this area quite a bit.  

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They've talked about this hotel for a long time.  I hope they make this happen.  It would improve this area quite a bit.  

I still cannot fathom why the Park Avenue developers abandoned their original intent to include a hotel.  There is virtually NOTHING in that part of town short of the Guesthouse Inn (reputable) and what's declined into the Clarion (not so much).

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I still cannot fathom why the Park Avenue developers abandoned their original intent to include a hotel.  There is virtually NOTHING in that part of town short of the Guesthouse Inn (reputable) and what's declined into the Clarion (not so much).

I agree with you but I think the developers of Park Avenue saw more revenue from leasing apartments than booking hotel rooms. At least the Clarion will become the Four Points by Sheraton. Hopefully a multimillion dollar renovation comes with it.

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I still cannot fathom why the Park Avenue developers abandoned their original intent to include a hotel.  There is virtually NOTHING in that part of town short of the Guesthouse Inn (reputable) and what's declined into the Clarion (not so much).

I think hotel developers are scared of this part of town all together.  If the Hilton couldn't have made it, then maybe it's not meant to be.  Hilton is an awfully good brand not to have made money.  But then again, maybe it was the ownership there.  I know that hotel developers have looked at Midtown and didn't pull the trigger.  

I agree with you but I think the developers of Park Avenue saw more revenue from leasing apartments than booking hotel rooms. At least the Clarion will become the Four Points by Sheraton. Hopefully a multimillion dollar renovation comes with it.

Strode (Park Avenue Developer) sold the land where the apartments went in to a third party with the agreement that the first floor would be condo back to them.  The land was too expensive for several of the hotel developers who came to Park Avenue looking for a site.  The spot in NW corner where they built a third set of apartments was originally scheduled to be a hotel but they sold it to the apartment developers when they couldn't find anyone to take the lot.  It's been hard to lease out everything because of the price.  Why the allowed a Newks and Potbelly to go in the same building (much less the same center) as Panera, I will never understand or agree with.    

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Why's that? 

Strode originally signed leases with no exclusivity clauses in their contracts but told potential tenants "Of course we wouldn't sign someone in direct competition to you. It's not in your best interest. We want to see you succeed."  Then the list of suitors for this spaces dwindled cause of the lease rates and they let Newks and Potbelly in even though all three serve mostly the same thing. Panera and Potbelly aren't doing the numbers they need. Newks is doing the best. Kind of setting up your tenants for failure. Good landlords don't do that IMO. 

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Ah.  I would think the options would be a draw.  

I think in some cases it is a draw.  But I'm not sure if it's in the best interest of the tenant.  Then again, if they didn't feel like they'd make it, they wouldn't have taken the spots.  Sometimes though it might encourage a tenant to make a pour decision on their investment.  Our office lovingly refers to Park Avenue as "Sandwich Central".  

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