Jump to content

Little Rock Real Estate Deals

Aporkalypse

Recommended Posts

Aporkalypse City

Aporkalypse

Posted
Posted

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.

Link to comment
Share on other sites

  • Replies 51
  • Created
  • Last Reply
skirby Town

skirby

Posted
Posted

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.

Link to comment
Share on other sites
Arkansawyer Whistle-Stop

Arkansawyer

Posted
Posted

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.

Link to comment
Share on other sites
  • 2 weeks later...
  • 3 weeks later...
skirby Town

skirby

Posted
Posted

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.

Link to comment
Share on other sites
CentralArkansas Whistle-Stop

CentralArkansas

Posted
Posted

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.

Link to comment
Share on other sites
skirby Town

skirby

Posted
Posted

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.

Link to comment
Share on other sites
Mith242 Gigalopolis

Mith242

Posted
Posted

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?

Link to comment
Share on other sites
  • 3 weeks later...
skirby Town

skirby

Posted
Posted

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.

Link to comment
Share on other sites
Mith242 Gigalopolis

Mith242

Posted
Posted

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?

Link to comment
Share on other sites
  • 4 weeks later...
CentralArkansas Whistle-Stop

CentralArkansas

Posted
Posted

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.

Link to comment
Share on other sites
Aporkalypse City

Aporkalypse

Posted
  • Author
Posted

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.

Link to comment
Share on other sites
skirby Town

skirby

Posted
Posted

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.

Link to comment
Share on other sites
Aporkalypse City

Aporkalypse

Posted
  • Author
Posted

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.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.