K Lofts Construction Could Soon Be Completed

by Arkansas Business Staff  on Monday, Mar. 20, 2017 12:00 am  

K Lofts on Main Street in downtown Little Rock (Karen E. Segrave)

Last week, we told you about a new funding agreement in the works for the long dormant K Lofts development in downtown Little Rock.

We can tell you the new deal closed. That means Creek Capital Partners LLC, led by Fort Smith’s Steve Creekmore Jr. family, is out of the picture.

But for now, we can’t tell you who is the new financier for the nearly completed 32-apartment project on the upper four floors at 315 Main St.

Creek Capital entered and exited the picture in only two months. We’re led to believe remaining construction work might not take that long.

Dovetailing with the influx of new money, litigation over Scott Reed’s stalled project has been dismissed in Pulaski County Circuit Court.

Contractor AMR Construction LLC of Little Rock pulled off the job after April Fools’ Day 2015 and later filed a lien claim of $196,440 for unpaid work.

That marked the beginning of the money dispute that later brought in the construction lender, IberiaBank, with both AMR and the bank ultimately filing foreclosure actions.

 

 

Please read our comments policy before commenting.
Search