The Financial Quarter- Downtown Little Rock

[Architect]

3 hours ago, ArkansasTraveler said:

This is less than encouraging for developing the Financial Quarter concept, but I can't say I'm surprised.

http://www.arkansasonline.com/news/2018/mar/07/news-in-brief-20170307/

Yes and no.  On the one hand, sure, demographic and technology trends allow more ready access to online and remote banking.  On the other hand, there are still TONS of brick and mortar banks/branches, arguably than ever before.  How could you NOT have a retail banking presence at your headquarters, downtown, where ±40,000 people work daily?

[arky]

3 hours ago, Architect said:

Yes and no.  On the one hand, sure, demographic and technology trends allow more ready access to online and remote banking.  On the other hand, there are still TONS of brick and mortar banks/branches, arguably than ever before.  How could you NOT have a retail banking presence at your headquarters, downtown, where ±40,000 people work daily?

I bank with BofA and will be moving away from them soon for decisions like this. 

All of their branches are understaffed in this areaand lines are ridiculous - I rarely go into branches and when I do it's a 20+ minute wait. No exaggeration.  It's clear they are cutting costs and doing it at their retail branches. 

I think this is more of an opportunity for this block than anything - bank branches are terrible, only open 40 hours a week, dead on nights / weekends. They should convert that lobby to restaurant or something creative. 

Edited March 8, 2018 by arky

[ArkansasTraveler]

For those who may have missed it, the large space dedicated to retail banking at the Bank of America Building has now been pared back to what the company calls an Advanced Center -- a sort of virtual branch that relies on video conferencing and digital assistance, rather than on-site staff found in a traditional branch (not counting the security guard who is on hand). Rollout of the concept began with four locations in 2017, according to this Charlotte Business Journal report. Initially, they'll keep later hours at this location:  weeknights until 6 p.m., and Saturdays from 9 a.m. until 3 p.m.

[williamwild009]

I really appreciate the information you provided, it was very useful. Would you happen to have any more insights or recommendations on this subject? I would love to hear any further guidance you have to offer.

[theman]

Arkansas Money and Politics has a great article on the redevelopment of Bank of America Plaza and the Regions Center.

https://armoneyandpolitics.com/iconic-building-makeovers-a-key-to-downtown-lrs-next-chapter/

[MDC26]

On 6/15/2023 at 1:25 AM, theman said:

Arkansas Money and Politics has a great article on the redevelopment of Bank of America Plaza and the Regions Center.

https://armoneyandpolitics.com/iconic-building-makeovers-a-key-to-downtown-lrs-next-chapter/

Nice article.  Sad that that all those workers bolted for Riverdale and West Little Rock.  Now they have the difficult task of refilling all the space.  The new OZK HQ is very nice, but imagine if they would have built a new tower downtown.  I think the next things that need to be done as soon as possible is to renovate the Boyle and Donaghey buildings for residential.  

[Architect]

1 hour ago, MDC26 said:

Nice article.  Sad that that all those workers bolted for Riverdale and West Little Rock.  Now they have the difficult task of refilling all the space.  The new OZK HQ is very nice, but imagine if they would have built a new tower downtown.  I think the next things that need to be done as soon as possible is to renovate the Boyle and Donaghey buildings for residential.  

I totally agree with all of that...the Bank OZK location was a complete missed opportunity to contribute something meaningful to downtown rather than just another suburban office building in an area that did NOT need it, and of course Boyle and Donaghey are cued up to be something special when the right developer comes along.  Those are really the only two major properties left of scale for redevelopment (and both will REALLY help Main Street when they happen).

The TOTAL head scratcher was the state deciding to take the Alltel building "off line" for future economic development pursuits when the Raytheon deal fell through after the merger with United Technologies.  So not only does the state now NOT have a huge building that could have been a lure, but they drained downtown of valuable lease space.  Lose-lose situation...typical for this state.  Ugh.

[MDC26]

On 6/16/2023 at 11:53 AM, Architect said:

I totally agree with all of that...the Bank OZK location was a complete missed opportunity to contribute something meaningful to downtown rather than just another suburban office building in an area that did NOT need it, and of course Boyle and Donaghey are cued up to be something special when the right developer comes along.  Those are really the only two major properties left of scale for redevelopment (and both will REALLY help Main Street when they happen).

The TOTAL head scratcher was the state deciding to take the Alltel building "off line" for future economic development pursuits when the Raytheon deal fell through after the merger with United Technologies.  So not only does the state now NOT have a huge building that could have been a lure, but they drained downtown of valuable lease space.  Lose-lose situation...typical for this state.  Ugh.

Yeah, does seem like a poor decision to deal a negative blow to the capital city downtown by it's own government.  I'm sure someone complained loud enough about having to walk too far to park, or something about crime, or whoever made the decision did it was closer to their house.