Have you heard about a new mixed-use development in the works for downtown Little Rock?
Definitive plans for Artisan On Collins are still taking shape. However, the owner envisions building 75-80 apartments as part of the project.
Who’s the owner?
That would be David Thompson.
He bought the proposed Artisan On Collins location for $1.7 million last month.
The seller in that deal was Industrial Realty Co., led by Sarah Hopkins.
The vacant, one-block property is bound by Collins Street on the east, Fourth Street on the north, Rector Street on the west and East Capitol Avenue on the south.
Thompson is looking at possibly building as high as four stories, with apartments on the upper floor and retail/office on the ground floor.
As it stands now, the Arkansas Highway & Transportation Department intends to buy the western 60 feet of his 2.1-acre property in connection with a reconfigured Interstate 30.
How the AHTD roadwork plans actually shake out is what Thompson calls “the million-dollar question.”
The project represents Thompson’s third apartment investment in downtown Little Rock during the last 14 months.
He bought the 59-unit MacArthur Commons project at 414 E. Capitol Ave. last November for $10.4 million and the 12-unit St. Clair project at 500 E. Sixth St. for $754,000 in March.