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Park Avenue


skirby

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So the buildings are just apartments, not retail on the first floor and offices and apartments above? What a disappointment. And who wants to live in an apartment where they look out their window and see Staples and Mattress King? This shopping center had so much potential, but I think they've veered off course.

That was my thought as well when I read the article in the paper. My other thought was "What is the purpose of the multilevel parking deck?" 261 apartments need that much parking? Seems like a waste of space.

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So the buildings are just apartments, not retail on the first floor and offices and apartments above? What a disappointment. And who wants to live in an apartment where they look out their window and see Staples and Mattress King? This shopping center had so much potential, but I think they've veered off course.

I didn't see where it was specific in that regard. Surely these are being developed as originally proposed to the Planning Commission. I doubt these are just apartments. If so, this is a total failure and waste of prime urban real estate.

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I didn't see where it was specific in that regard. Surely these are being developed as originally proposed to the Planning Commission. I doubt these are just apartments. If so, this is a total failure and waste of prime urban real estate.

Arch, take a look at this link from the development's website. Of the buildings in the center of the development, two are shown to be apartment-only, one is retail only and one is retail on the first floor with apartments above. Yesterday's article didn't mention that last building, just the apartment-only ones. And also, the one on the NW corner that was slated to be a hotel, office or apartments is now apartment-only. Unless things turn out differently when it's built.

http://parkavenuelr.com/pdfs/leasing-site-plan.pdf

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Hmm. It does seem like a waste not to have retail on the ground floor of the apartment building across from Staples and Radio Shack since the one next to it will have shops and such. It's also a shame they aren't putting apartments above LA Fitness, a 2-story building there seems like a waste of expensive real estate.

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Hmm. It does seem like a waste not to have retail on the ground floor of the apartment building across from Staples and Radio Shack since the one next to it will have shops and such. It's also a shame they aren't putting apartments above LA Fitness, a 2-story building there seems like a waste of expensive real estate.

This is quickly turning into one of the more inept developments I've ever seen...this is so typical of this market...a complete waste of an opportunity...watered down to a tasteless, visionless what-if.

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This is quickly turning into one of the more inept developments I've ever seen...this is so typical of this market...a complete waste of an opportunity...watered down to a tasteless, visionless what-if.

I just don't understand the logic/fiscal sense behind the changes they've made to this development over time. The market itself hasn't really changed. If anything, Little Rock was more resilient during the recession that most areas. They have a very unique, very valuable piece of property that is a once a century kind of opportunity (if that) to have such a large piece of property in such a busy, developed corridor. I don't understand why Strode didn't just slow things down a bit if financing was an issue, instead of cheaping out and building a greatly reduced development. It's still better than a decaying mall and should be pretty nice, but it's not a game changer in any way for that part of town, which is what we were originally promised.

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I just don't understand the logic/fiscal sense behind the changes they've made to this development over time. The market itself hasn't really changed. If anything, Little Rock was more resilient during the recession that most areas. They have a very unique, very valuable piece of property that is a once a century kind of opportunity (if that) to have such a large piece of property in such a busy, developed corridor. I don't understand why Strode didn't just slow things down a bit if financing was an issue, instead of cheaping out and building a greatly reduced development. It's still better than a decaying mall and should be pretty nice, but it's not a game changer in any way for that part of town, which is what we were originally promised.

You've much more eloquently, and objectively summarized my feelings on this...sorry for my more emotional response above.

I think you make a great point. What would precipitate this project being watered down? If anything, LR has weathered the economy better than most and by all accounts has grown beyond and continues to offer more sophisticated amenities than before.

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  • 2 months later...

The store directory page of the Park Avenue website lists Panera Bread as coming in the summer of 2012. It also lists two tenants opening in the fall of 2012: Jered Jewelers and Dos Margaritas (whose only other stores appear to be in the Nashville, Tennessee area). There is no mention of the once-listed LA Fitness, although it still may be on the horizon.

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The store directory page of the Park Avenue website lists Panera Bread as coming in the summer of 2012. It also lists two tenants opening in the fall of 2012: Jered Jewelers and Dos Margaritas (whose only other stores appear to be in the Nashville, Tennessee area). There is no mention of the once-listed LA Fitness, although it still may be on the horizon.

Where are they going to put the Panera to have it done by Summer 2012? Work on the Jared site has already begun, so that I can imagine (will still be relatively quick construction). I am pleased about the Panera though, I was worried when they announced the one on Shackleford that they may have been giving up on Park Avenue, which I felt was a mistake since that type of development (and part of town) is perfect for that sort of place. I'm glad that wasn't the case. I have been pretty impressed with how quickly visible construction got underway once the site work was done, and I am looking forward to seeing how this project turns out even if it isn't what we'd originally been promised.

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Good to hear about Panera!

Also on the Park Avenue website is listed DosMargaritas. The link attached, takes you to Dos Margaritas, a restaurant with three locations in the middle Tennessee area, Gallatin, Hendersonville, and Clarksville. The menu looks like the menu from Senor Tequila or El Porton. Is there a Mexican restaurant that doesn't have a Speedy Gonzales dish and 28 combination options?

While on the topic of Mexican restaurants, I can highly recommend Santo Coyote in North Little Rock. The place seems to be a step-up from the typical Mexican restaurants. They are in the process or have just opened a location in West Little Rock in the shopping center behind Carino's.

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The Park Avenue website map shows there are three available spaces. The first is a space between Carter's and Radio Shack. The second space is just to the west of the Verizon store. The third space is just west of that space and is 15,000 square feet.

Jared's is an outparcel near University Avenue. That space, in my opinion, should have been a restaurant and Jared's should have been in the third available space listed above, subdivided to the smaller footprint Jared's requires. But they didn't ask me, did they?!

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The Park Avenue website map shows there are three available spaces. The first is a space between Carter's and Radio Shack. The second space is just to the west of the Verizon store. The third space is just west of that space and is 15,000 square feet.

Jared's is an outparcel near University Avenue. That space, in my opinion, should have been a restaurant and Jared's should have been in the third available space listed above, subdivided to the smaller footprint Jared's requires. But they didn't ask me, did they?!

Jared's, more often than not, requires an outparcel and won't go inline.

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  • 3 weeks later...

I'm still a little disappointed on what this property turn out to be. Other than Target and Cheddar's, there's really no reason to go to this center. There's hardly any foot traffic to the newly opened stores (Staples, Carter's, Radio Shack) due to the fact that they can drive a little farther out west to the same stores. I still think that Strode should have taking it's time with this development and select quality tenants(H&M for example) that will increase foot traffic to Park Avenue rather than filling it in with stores already in the market. A Joe's Crab Shack or a Red Robin could of been in one of the restaurant pad instead of Jared Jewelery and a movie theater should been located in middle of the development instead of apartments which would probably not be successful due to the noise. I really wish Strode would sell this property to other major developers(Red Development or even Simon) who can make this center worth going to.

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I'm still a little disappointed on what this property turn out to be. Other than Target and Cheddar's, there's really no reason to go to this center. There's hardly any foot traffic to the newly opened stores (Staples, Carter's, Radio Shack) due to the fact that they can drive a little farther out west to the same stores. I still think that Strode should have taking it's time with this development and select quality tenants(H&M for example) that will increase foot traffic to Park Avenue rather than filling it in with stores already in the market. A Joe's Crab Shack or a Red Robin could of been in one of the restaurant pad instead of Jared Jewelery and a movie theater should been located in middle of the development instead of apartments which would probably not be successful due to the noise. I really wish Strode would sell this property to other major developers(Red Development or even Simon) who can make this center worth going to.

I completely agree. This is turning out to be a missed opportunity of the highest order.

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The store directory page of the Park Avenue website lists Panera Bread as coming in the summer of 2012. It also lists two tenants opening in the fall of 2012: Jered Jewelers and Dos Margaritas (whose only other stores appear to be in the Nashville, Tennessee area). There is no mention of the once-listed LA Fitness, although it still may be on the horizon.

Little Rock don't need another Mexican Restaurant. There are too many mexican restaurants in the market.

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  • 1 month later...
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  • 4 weeks later...

Doctors Hospital coming down? I hear that Arkansas Specialty Orthopaedics Surgery Center will be going in its place. Work has apparently already begun to take the parking decks of the Doctors Hospital down.

My understanding is that they are already operating (literally & figuratively) in the Doctors Hospital building.

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Doctors Hospital coming down? I hear that Arkansas Specialty Orthopaedics Surgery Center will be going in its place. Work has apparently already begun to take the parking decks of the Doctors Hospital down.

This is an item on next week's planning agenda. Doctor's Hospital and its parking deck will be demolished to make way for a four story, 72,000 square foot, office/clinic building on the west - developed by Little Rock Medical Associates. For the time being, the remaining space to the east will become surface parking space. Future plans call for an additional office/clinic complex and parking deck.

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This is an item on next week's planning agenda. Doctor's Hospital and its parking deck will be demolished to make way for a four story, 72,000 square foot, office/clinic building on the west - developed by Little Rock Medical Associates. For the time being, the remaining space to the east will become surface parking space. Future plans call for an additional office/clinic complex and parking deck.

It's not the most beautiful building in the world, but I'm sorry to see such a large building be replaced with a four story office building in that part of town.

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  • 5 weeks later...

This is quickly turning into one of the more inept developments I've ever seen...this is so typical of this market...a complete waste of an opportunity...watered down to a tasteless, visionless what-if.

I don't live in Little Rock anymore but check back here occasionally to see what is going on. I would agree from what I've seen of Park Avenue that it is a horribly wasted opportunity. What was originally proposed compared to what was built is pretty much night and day. One thing I will say is what happened with Park Avenue is pretty typical for developments announced prior to the recession but not off the ground until afterwards. It isn't necessarily a Little Rock thing. I lived in Charlotte for three years, which luckily had most of its major retail developments off the ground before the crash so they turned out pretty well. Now I live in Oklahoma City which is in very much the same situation as Little Rock is in. Numerous developments were announced in the 2007-2008 timeframe which are just now finishing up and most of them are very scaled down from the original proposal, so much that it would have been best if they would have abandoned the projects entirely. An example is there was a mixed-use lifestyle center proposed for North OKC with an upscale department store as its anchor (rumored to be Saks or Von Maur), but it now looks like its going to be a strip mall anchored by a grocery store connected to a standard suburban apartment complex. Apparently there is a long list of new-to-market retailers wanting to enter the OKC market but there is yet to be a quality development due to the timing. Had the recession come a year or two later, markets such a Little Rock and OKC would have fared much better as far as quality retail and mixed-use developments.

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  • 4 weeks later...

Not in Park Avenue but in the area. The 5 story Fausett Building at the corner of Markham and University will be torn down. According to Arkansas Business last March the building was 98% occupied. In its place a Chipolte Mexican Grill will be constructed. It will be located just north of the new McDonald's.

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Not in Park Avenue but in the area. The 5 story Fausett Building at the corner of Markham and University will be torn down. According to Arkansas Business last March the building was 98% occupied. In its place a Chipolte Mexican Grill will be constructed. It will be located just north of the new McDonald's.

 

Chick-fil-a, McDonalds and now Chipolte, all high traffic businesses, joining Park Avenue, Park Plaza and Midtowne, making Markham & University an intersection to avoid. Way to go Little Rock Planners.

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Chick-fil-a, McDonalds and now Chipolte, all high traffic businesses, joining Park Avenue, Park Plaza and Midtowne, making Markham & University an intersection to avoid. Way to go Little Rock Planners.

 

I agree... This most recent decision is stupid on multiple levels. I went by the McDonald's today just for the heck of it and access is a royal pain. Chick-Fil-A already backs up traffic into Markham all the time, and that's an incredibly busy (and a little dangerous due to the angles and grades) intersection to begin with. Tearing down a 5 story building to put in another high traffic one-story restaurant makes no sense to me whatsoever. I don't understand how it's financially smart to replace a building that size with a little restaurant, I don't understand how that location will be able to make accessible, and I don't understand why Chipolte didn't go into Park Avenue instead if they were dying for a location in that area. I imagine they are paying a lot for that corner and the demolition of that building, and I can't imagine that it would have been more expensive to go in Park Avenue. I hate that building a lot, but this just doesn't make sense to me at all. 

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