Construction will begin in the next few weeks on a $35.6 million, 244-unit upscale apartment complex in downtown North Little Rock that will be called The Vue.
The development is a joint venture of TerraForma and Newmark Moses Tucker Partners, and it will be both firms’ first venture in the Argenta Historic District.
The complex will be built on a 6-acre site on the north bank of the Arkansas River, west of the Broadway Bridge.
“The land was purchased in early 2017,” said Dave Bruning, a partner with TerraForma, in a news release. “We knew the property, with its close proximity to both downtown Argenta and downtown Little Rock, would be a great apartment location. Being adjacent to the Arkansas River Bike Trail is also particularly unique and adds to the location”.
Newmark Moses Tucker CEO Chris Moses also said in the release, “This will be an amenity-rich property, unlike any other apartment community in downtown Little Rock/North Little Rock.”
The Vue will be gated and feature a resort-style swimming pool, fitness center, clubhouse with kitchen area, billiard tables, a golf simulator, covered parking and some enclosed garages.
The buildings will be three and four stories, with elevator access to all units. One-half of the units will offer river/skyline views.
In addition to the two firms, the project team includes Central Construction Group and Thomas Engineering. Financing is being provided by Arvest.
Construction is expected to take approximately 18 months, and units will be available for occupancy in the first quarter of 2021.
Newmark Moses Tucker will handle leasing and manage the property.