Downtown Little Rock Condominiums

[Aporkalypse]

Any ideas on a starting date?

Things were tied up by this parking deck issue so the earlier dates were postponed. No new dates have been announced.

This is a key project because along with Lafayette Square it will provide a substantial amount of residential on Main. These two projects could fuel a lot of redevelopment along Main, especially if Stephens does something with the land where the old bus depot was located.

It also is supposed to provide affordable condos that will allow more young professionals to buy downtown. Prices at the other developments are too high for most people early in their careers, even if they are lawyers, engineers, etc.

[skirby]

The Donaghey Building conversion project will not be buying the parking deck. There is now talk to lease 180 spaces in the deck. The developer says she will have to rework her financial plan but hopes to have construction started by the end of November or December.

[Architect]

An acquaintance of mine in the commercial real-estate industry (and a reliable source) told me recently that Moses-Tucker is finalizing the architectural plans for their next condo tower. The last word I heard on its height came about three months ago. At that time, the building was to stand 23 stories tall (give or take a floor). While that is exciting news, the original plan was to build a tower in the neighborhood of 30 stories. Unfortunately, the financing fell short of the desired goal and several floors were removed, last spring. I am not certain if it is still planned as a mixed-use tower (hotel-condo) or one with only the condo component and first-floor retail. It is my understanding that the tower will rise on the block surrounded by Third, Commerce, Fourth, and Rock

[Aporkalypse]

That is exciting, yet also somewhat expected as Moses-Tucker has publicly stated that they've only built about 1/3 of what they're planning downtown over the next 10 years. Another tower would be great. As I drove into Little Rock this evening from a trip out of town, the skyline is unquestionably becoming quite masculine with the new towers in Rivermarket. Its pretty cool that the CBC is now developing two distinct skylines. The addition of another 20-30 story tower would solidify a new, distinct high-rise district.

[Hillcrest_LR]

I'm not sure how many of the condos in 300 3rd are presold but there used to be many on realtor.com and theyv'e disappeared. I'm assuming they've sold them all. There aren't many downtown condos on the market, just a couple in Rainwater Flats.

[EJC]

This may be old news, but is anyone familiar with this? I think it's the older condo project at the bottom of Cantrell, looks like they plan to spruce things up quite a bit. Riviera Condominiums...

http://www.rivieralittlerock.com/

[Architect]

This may be old news, but is anyone familiar with this? I think it's the older condo project at the bottom of Cantrell, looks like they plan to spruce things up quite a bit. Riviera Condominiums...

http://www.rivieralittlerock.com/

[EJC]

Yes, I've seen it. Unfortunately...

A - Its a goofy remodel, and...

B - How's this for a pretentious tagline..."For some, living in the bustle of a busy downtown is what it's all about. For the rest of us, we enjoy that excitement - but from an arm's length."

Good grief! Is that not lame? Like you're too good for getting "dirty" downtown?

[Aporkalypse]

Gotcha. Well since I don't actually have any interest in living in a condo OR downtown, it's not my cup o' tea, and I guess I'm "too good for getting dirty downtown". Having said that, the face list they seem to propose looks like an improvement over the existing structure, so hopefully it's not all bad.

[Architect]

New website for Lafayette Square:

http://www.lafayettesquare-lr.com/

Very nice.

[EJC]

New website for Lafayette Square:

http://www.lafayettesquare-lr.com/

Very nice.

[Aporkalypse]

New website for Lafayette Square:

http://www.lafayettesquare-lr.com/

Very nice.

[theman]

New website for Lafayette Square:

http://www.lafayettesquare-lr.com/

Very nice.

[Aporkalypse]

Very impressive website. I like the views to the north and northwest of the CBD. I wonder how leasing is going for Lafayette Square. It looks like it would be a good alternative for those who want to live downtown and work in the CBD.

[Aporkalypse]

Good explanation in today's paper of why the delay took so long. The top floor is ready, four more floors will open soon.

[jcaruth]

The grand opening is at 10:00 tommorrow morning

http://www.arkansasbusiness.com/article.as...30.44608.109875

[skirby]

The Donaghey Building conversion project will not be buying the parking deck. There is now talk to lease 180 spaces in the deck. The developer says she will have to rework her financial plan but hopes to have construction started by the end of November or December.

[Aporkalypse]

Looks like the Donaghey Building conversion is a no go. Word is the developer has left town. Another set back for the redevelopment of Main Street.

[Architect]

I wonder if they finished removing the asbestos? That was the major obstacle to redevelopment.

I bet this would do ten times better as a loft apartment building. The market if flooding with luxury condos but rentals are limited.

[skirby]

Arkansas Business reports in an article about AMR Architects Inc. that they are working with MT on another building that will contain only loft condos.

[Architect]

Arkansas Business reports in an article about AMR Architects Inc. that they are working with MT on another building that will contain only loft condos.

[LIT uPP]

I read that as well. The problem is that I don't know what constitutes "Lofts" anymore, or furthermore whether or not this is a new or existing building. Lots of nice press for all of the downtown residential towers this week in ADG and AB as mentioned.

[Aporkalypse]

I wonder if this might be Moses-Tucker's plans for the Arkla building, one block south of River Market Place. They purchased that building a year or two ago, I believe.

[skirby]

If it is I'm sure they tear down and rebuilt. It's hard to imagine that building converted to lofts.

[Aporkalypse]

I do not think they will tear the Arkla building down but will find some way to use it. If they do tear it down then the property for the new project will have cost them $5 million. I think this would be too much for a loft project in LR.