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skirby

The Ashford

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Update on River Tower. The property has been purchased by the developer and it is to contain 38 units.

20060209jan1100113cd.jpg

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The same location. It will be called "The Ashford" and the developer says it will offer a luxury unparalleled in the market. That doesn't necessarily mean sophistication mind you.

There was an ad for this in a local weekly several months ago with a rendering. Its an all-white, precast behemoth. It looks like some tacky casino if you ask me. But I'm sure it will appeal to some segment of the population - probably the older more conservative types. Certainly not the same demographic as 300 Third, etc, and certainly not as nice (I think) as what was originally planned. Hopefully it proves successful.

Here is a link to the article on Arkansas Business' website:

http://www.arkansasbusiness.com/article.as...72.34656.114317

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Wow, thats rendering is amazing. It looks completely realistic. I will say you are right thought in that it looks too casino-hotelish. Any idea when construction is supposed to get started?

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I'll give them this: that's one of the most impressive displays of CG (Computer Graphics) I've ever seen for an unbuilt project. Extremely realistic. I was pretty wowed by the images, and then I discovered the animated fly-by movies. Sheesh....even the whole context of Riverdale was included. I can't imagine the man-hours it took to put this together.

The extent to which this has been developed is very impressive, and certainly shows the commitment and professionalism of the Hathaway Group. This will certainly impress prospective tenants!

p.s. Here's an example....taking the "Tour" of the clubhouse, note the Razorback Football game on the TV.

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I think it looks amazing. I was almost fooled into thinking it already existed when I first saw the images on their website. It looks very nice. Some of those units are well over 3K sq ft... any idea on the prices for these???

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All of the glass is smart. The views up there are outstanding, I always liked the condos at Treetops for that reason.

Anyone ever been up to Holcombe Heights? Those views are great and those apts aren't that expensive.

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You know the prices are going to have to be sky high. The cost of the project is $65 million and there will only be 44 units!

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You know the prices are going to have to be sky high. The cost of the project is $65 million and there will only be 44 units!

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Whoa, the math there just doesn't work out. $65 million for 44 units? Hmmm.

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That's gotta be an error. Who the hell would pay over a million for a condo NOT located in downtown? Let's see, if you pay us 2 million, you can get room 23 on the second floor, with a skyline view of the 'burbs. There are cheaper, better, HOUSES along the ridge by the river.

That video is sick. Best one i've ever seen for a development...

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Something like this happened recently in NWA as well, although it wasn't a condo development. But the figures didn't add up as well in this development. I'm not sure what's going on. But anyway it's an interesting development. I wish our condo market was as strong as Little Rock's.

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Many people in the RE business in LR still aren't convinced that the demand is as strong as the projected supply right now. Many, if not most of the upper end condo's have been sold as pricey second homes for well-to-do and business people as investments. It remains to be seen if they are going to be absorbed and embraced as principal residences.

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Many people in the RE business in LR still aren't convinced that the demand is as strong as the projected supply right now. Many, if not most of the upper end condo's have been sold as pricey second homes for well-to-do and business people as investments. It remains to be seen if they are going to be absorbed and embraced as principal residences.

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I personally did NOT move back to AR to live in a condo. I could have done that in DC. I don't think there would be many people who would come to AR to buy a condo. Most people who move here are thinking "LOW cost of living" and aren't going to invest their equity in something like this. JMHO...

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I agree. I may be conservatizing with old age -_- , but if I were going to live in the Riverdale area, I would want a nice house with a lawn near the River Trail, or at least some piece of ground level land-property not above 13 concurrent floors of other peoples' sterilized rooms. Perhaps retirees would prefer something like this, but I just can't see what the pull is for the 1 million dollar range. Are they simply hoping to build a community of Little Rock elite?

My personal take is that if you want urban-style condo-living, the only place to go in Arkansas is downtown Little Rock. Otherwise, why get a hermetically sealed, crystalline view of the river valley on the 14th story of, IMO, an ill-placed high rise? There are 44 units, meaning you'll probably have to choose between a skyline Little Rock postcard-view, or a river valley bluffs postcard-view.

I mean, I guess it wouldn't be that bad if the prices were reasonable....but...

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Let's hope we're all wrong. Certainly, the guys plumping down $65M have done a little more research on this than all of us "hacks" posting to a free message board! :lol:

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Let's hope we're all wrong. Certainly, the guys plumping down $65M have done a little more research on this than all of us "hacks" posting to a free message board! :lol:

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Anybody know how Lafayette Square is doing? I heard it wasn't doing so well.

While I think these projects are good, I hope developers don't get too carried away with the condo trend and oversaturate the market like what has happened in NWA.

Developers plan long-term. The current recession will either be over or nearing its end by the time this project is complete.

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From what I've read Lafayette Square is not doing well. A real estate agent said that he had talked to people about it and they were interested until the condo fees came up. The inflated fees and parking across the street are turning off buyers. Until Main Street becomes more developed I think it will be a hard sell.

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