Heard about an upscale condo project in the works for Little Rock?
No, this one isn’t downtown.
We’re talking about the 72-unit Chenal Woods project in west Little Rock.
The location borders the north side of the construction site for the new headquarters for Bank of the Ozarks at the northwest corner of Chenal Parkway and Rahling Road.
Jordan Rentals LLC, led by Henry Jordan Jr., bought the 4.68-acre property for $2.8 million from Deltic Timber Corp. of El Dorado.
We’re told units in the gated development will range from $300,000 to the mid-$500,000 range.
You might recall this isn’t Jordan’s first condo deal in Little Rock.
The Helena businessman is a moving force in converting Riverview Apartments into The Cliffs. That 2.5-acre development is at 810 North St. in downtown Little Rock.
We understand that 54 of the 73 units have sold since marketing began in May 2006. The project was acquired for $5 million in July 2005.
Condo Talk Part 2
Speaking of condos, did you know there’s downtown condo construction going on in Jonesboro?
Young Investment Co. LLC of Jonesboro is pouring $1.8 million into transforming an 1887 railroad warehouse into 14 luxury condos.
Some of the features of the condos include a plasma TV, wiring the units for surround sound and 25-foot-high ceilings in the living room and kitchen.
The 1,850-SF units are expected to be ready to sell in nine months to a year, said Clay Young, president and CEO of Young Investment.
The units will go for around $225,000.
Young Investment also is developing 10 lofts in downtown Jonesboro, some of which will be sold and some rented. Those lofts are expected to be ready about the same time as the condos. And four people have already put deposits on lofts to rent, he said.
Young said people have been buzzing about coming to downtown Jonesboro to live.
He said people from larger cities are moving to Jonesboro and want the downtown living or Jonesboro residents are trying to simplify their lives and want the condos.
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