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Aporkalypse

Little Rock Real Estate Deals

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I thought we needed a thread for speculation about projects based on land changing hands and big deals going down.

We can start with this one:

Pulaski Academy just purchased Fellowship Bible's 6 acre complex at Hinson and Napa Valley for $16 million and Fellowship is planning on moving further west. This means that rather than Fellowship buying PA when PA moves to the land it owned out on Denny Road, PA will be able to expand throughout the intersection and used the previously constructed buildings and auditoriums though I have no idea which will stay and which will be torn down. Fellowship will build a de novo complex after years of builging up the "compound" there into probably the largest church complex in Arkansas. Kind of a surprising deal to me.

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I thought we needed a thread for speculation about projects based on land changing hands and big deals going down.

We can start with this one:

Pulaski Academy just purchased Fellowship Bible's 6 acre complex at Hinson and Napa Valley for $16 million and Fellowship is planning on moving further west. This means that rather than Fellowship buying PA when PA moves to the land it owned out on Denny Road, PA will be able to expand throughout the intersection and used the previously constructed buildings and auditoriums though I have no idea which will stay and which will be torn down. Fellowship will build a de novo complex after years of builging up the "compound" there into probably the largest church complex in Arkansas. Kind of a surprising deal to me.

They are really looking west to Ferndale Cut-off. Also, they are talking about a church in the downtown area.

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Pulaski Academy just purchased Fellowship Bible's 6 acre complex at Hinson and Napa Valley for $16 million and Fellowship is planning on moving further west. This means that rather than Fellowship buying PA when PA moves to the land it owned out on Denny Road, PA will be able to expand throughout the intersection and used the previously constructed buildings and auditoriums though I have no idea which will stay and which will be torn down. Fellowship will build a de novo complex after years of builging up the "compound" there into probably the largest church complex in Arkansas. Kind of a surprising deal to me.

According to the Democrat-Gazette, PA is purchasing 17 of Fellowship's 24 acres in the transaction.

I'm very surprised by this too. I expected PA to move out to Denny Road, and sell its land to Fellowship. Fellowship had recently built the new youth center and adminsitration buildings in the area. I wonder what part of the property Fellowship plans on keeping, and what PA will do with its property on Denny Road.

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The site of the former Summit Mall project has changed hands for $11.4 million. The land sits beside I-430.

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The site of the former Summit Mall project has changed hands for $11.4 million. The land sits beside I-430.

Who bought it? Simon was being rumored to plan a major commercial development there on a smaller scale than Summit would've been.

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Who bought it? Simon was being rumored to plan a major commercial development there on a smaller scale than Summit would've been.

Simon and Dillard's sold it to Shackleford Crossings LLC, led by Steve Clary.

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The Shackleford Crossing project will be a "power center" rather than a "lifestyle" center - as such, it will contain big box retailers and restaurant chains, etc. J.C. Penny, Wal-Mart, Babies-R-Us, Carraba's Italian Grill, etc. will likely be part of the mix.

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I had heard about Wal-Mart, but I didn't know that JC Penny, Carraba's Italian Grill, and Babies R Us were coming as well. If so, then that's great news!!

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I had heard about Wal-Mart, but I didn't know that JC Penny, Carraba's Italian Grill, and Babies R Us were coming as well. If so, then that's great news!!

Seems like a weird place for a Wal-Mart; there's one right up the road.

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Eventhough this is not a real estate deal I think the following would fit in. Mayor Hayes of NLR will propose an ordinance temporarily suspending building permits in the following area. The area is west of Pike Ave. with the river on the south and 9th street on the north. He wants to be able to control any future development in this area. There is a lot of vacant property along with run down and vacant houses in the area. This area is a few blocks west of the new ballpark. It looks as though some of the property owners are pushing this before they begin development in the area.

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Eventhough this is not a real estate deal I think the following would fit in. Mayor Hayes of NLR will propose an ordinance temporarily suspending building permits in the following area. The area is west of Pike Ave. with the river on the south and 9th street on the north. He wants to be able to control any future development in this area. There is a lot of vacant property along with run down and vacant houses in the area. This area is a few blocks west of the new ballpark. It looks as though some of the property owners are pushing this before they begin development in the area.

I like the idea.

Instead of just throwing up whatever the next developer thinks of, it will give everyone time to sit back and think about what will fit best in that area.

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I heard that a 3,000-SF condo on the 14th floor of the First Security Center in the Downtown, sold for $1.3 million!!

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I heard that a 3,000-SF condo on the 14th floor of the First Security Center in the Downtown, sold for $1.3 million!!

I guess the market is good for higher priced units. The 3,000-SF condos in the 300 Third Tower have all been sold. There is a 6,264-SF space on the 11th floor of the Residences at Building 5 priced at $2.2 million. I don't know if has been sold yet.

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Wow, that's quite a price for a condo in Little Rock!!

I wonder if Bill Clinton has decided to buy another downtown condo. I know he resides a bunch at the Clinton Library, he has a plush loft up there, I know because I got to tour the library when it was under construction. :D

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Wow, that's quite a price for a condo in Little Rock!!

I wonder if Bill Clinton has decided to buy another downtown condo. I know he resides a bunch at the Clinton Library, he has a plush loft up there, I know because I got to tour the library when it was under construction. :D

How did you get a tour when it was under construction?

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How did you get a tour when it was under construction?

I have connections. :D

It was actually part of a program that I helped participate in called First Leadership for the Rogers Lowell Chamber of Commerce.

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KATV Channel 7 had a story about the redevelopment of land east of the Clinton Library and Heifer project. Not only did it mention the Lighthouse Point project but said "the East End area is prime for residential development, and numerous investors and developers throughout the nation have shown interest."

The Lighthouse Point project has received alot of air time lately and the developer has stated that work will start this year.

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KATV Channel 7 had a story about the redevelopment of land east of the Clinton Library and Heifer project. Not only did it mention the Lighthouse Point project but said "the East End area is prime for residential development, and numerous investors and developers throughout the nation have shown interest."

The Lighthouse Point project has received alot of air time lately and the developer has stated that work will start this year.

Maybe this has been discussed before but can someone refresh my memory on the Lighthouse Point project?

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Maybe this has been discussed before but can someone refresh my memory on the Lighthouse Point project?

Lighthouse Point is a $40 million + project to contain a 206-slip marina, a restaurant, 220 apartments and some retail.

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Lighthouse Point is a $40 million + project to contain a 206-slip marina, a restaurant, 220 apartments and some retail.

Thanks, I remember hearing about this now.

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The Broadway Animal Hospital at 900 Broadway sold for $1.6 million to investors from Wichita. Clearly that building is not what they paid for, it was the CBD land. I wonder what kind of plans they have for it.

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The Broadway Animal Hospital at 900 Broadway sold for $1.6 million to investors from Wichita. Clearly that building is not what they paid for, it was the CBD land. I wonder what kind of plans they have for it.

I dunno, but for that kind of money it is something substantial I'm sure.

I'm not familiar with that building, what kind of size does it have? Would you expect it to be demolished? If so, I'm sure at the least some kind of low-to-mid-rise development will be in it's place if it isn't a huge piece of land.

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I dunno, but for that kind of money it is something substantial I'm sure.

I'm not familiar with that building, what kind of size does it have? Would you expect it to be demolished? If so, I'm sure at the least some kind of low-to-mid-rise development will be in it's place if it isn't a huge piece of land.

It's a pretty small unremarkable building, so I guess it would be demolished. I can't remember it well, though.

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Bruce Burrow and Marty Belz have purchased the former Brandon House furniture store at 12th and University. This is across and down the street from the Little Rock Hilton. The property cost $5 million and they plan to spend that much on its' redo. They are planning to make it over into an office complex. This is another sign of the rebirth of midtown Little Rock.

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Bruce Burrow and Marty Belz have purchased the former Brandon House furniture store at 12th and University. This is across and down the street from the Little Rock Hilton. The property cost $5 million and they plan to spend that much on its' redo. They are planning to make it over into an office complex. This is another sign of the rebirth of midtown Little Rock.

Interesting, that's not a propety I would've thought was destined for greatness. If that midtown area thrives I think the South side of I-630 has ample property for redevelopment that could benefit.

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