Argenta Neighborhood Poised for Economic Boom

The recent groundbreaking for the Arena District, which is rising to the west of Simmons Bank Arena along Broadway Street in North Little Rock. (Steve Lewis)

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The name Argenta derives from “silver,” and with about $80 million in economic development projects through 2028, the southern edge of that North Little Rock neighborhood is bustling on the cusp of a golden era.

That’s the view of real estate developer Greg Nabholz, who worked for five years on plans for a $25 million Arena District just west of Simmons Bank Arena between Broadway Street and the Second Street Promenade.

Nabholz, who leads Nabholz Properties Inc. of Conway, broke ground last month on the project, which will include a five-story, 96-room Aloft Hotel and a nearly 6,300-SF event venue. Willy D’s Rock & Roll Piano Bar, a Little Rock fixture for more than 20 years, is building a new home on the corner of Poplar Street and the pedestrian promenade.

“Like everything, all good things take time, and there are moving parts that you have to pull together,” Nabholz said in an interview. “But the bottom line is, I feel great that we’re going to soon have buildings rising from the site.”

Nabholz sees the project as a “gateway to the Argenta Arts District” from the riverfront to the south and Interstate 30 to the east.

Conference Center, Tempo

The city of North Little Rock is building a $14 million, 31,000-SF conference center at the site of the former city services building between Main and Poplar streets at the foot of the Main Street Bridge.

Around the corner on East Washington Avenue, Makan Hospitality Management is building a $30 million Tempo by Hilton Hotel, North Little Rock Economic Development Director Colleen Bailey told Arkansas Business. The hotel, at the site of the former Greyhound bus depot, will feature a rooftop bar.

“The conference center is roughly a $14 million project, and the Hilton Tempo is around $30 million,” Bailey said. “The Aloft project is around $25 million.”

Those enterprises, along with a few smaller projects like a $3 million art installation in Argenta Plaza honoring historic Arkansas musicians, add up to “right under $80 million worth of investment through 2028 in this area,” Bailey said. “That’s just unheard of.”

The conference center is ahead of schedule and set to open early next year, Bailey said. “The Tempo by Hilton … should be open in the second quarter of 2027. I don’t know the actual timeline of the Aloft project, but by 2028 it’ll be a completely different area down there.”

Nabholz said that if all goes well, he expects the Arena District to be finished by the end of 2027.

Conway Management of Little Rock, led by President Umang Patel and Director of Development Nemo Sitaram, partnered with Span Hospitality on the Aloft project. Span, led by President and Chairman Andy Patel, manages a dozen Arkansas hotels under the Marriott, Hilton, IHG and Best Western brands. It, too, is based in Little Rock.

Aloft is part of the Marriott family of hotels, known for modern design and social spaces.

At the Nov. 11 groundbreaking, Umang Patel said the brand will be “geared towards tech-savvy travelers who appreciate social scenes.” The hotel may lease the 6,300-SF event venue, Nabholz said, though negotiations are in progress with another potential tenant/investor.

Building Momentum

“Nabholz Properties owned the property through our Broadway Street LLC, and we are the developer of the project,” Nabholz said. “And, of course, we sold the lots. We still have two remaining lots, one of which is going to be a parking lot, and another that will be this event/multipurpose building.”

That building will be a “nice complement” to the conference center the city is building, Nabholz said. “It’ll be one level, maybe as tall as 25 feet, with open space that you could do a lot with. It would be flexible. You could have weddings, a sit-down dinner, or seating for a concert or a film, or an open plan for parties.”

H+N Architects of Conway, led by Liz Hamilton and Joanna Nabholz, a cousin of Greg’s, are working on the event space design, as well as the Willy D’s building. Jimmy Hudspeth of Memphis is the architect for the Aloft Hotel, Greg Nabholz said. Mulhearn Constructors of North Little Rock, a Kinco company led by Seth Mulhearn, is building the Willy D’s.

Greg Nabholz said the Arena District builds on years of momentum in Argenta and continues Nabholz Properties’ commitment to investing in downtown North Little Rock. It amplifies “the energy of nearby projects like the North Little Rock Conference Center, the enhanced Second Street Promenade, and Argenta Plaza with its future ATG Pavilion,” Nabholz said. “Together with Simmons Bank Arena and Dickey-Stephens Park, these destinations strengthen the area’s role as a vibrant hub.”

Bailey, the North Little Rock economic developer, praised CBM Construction of Little Rock for its swift work on the city conference center. The company has roots in North Little Rock, and CEO Clark McGlothin’s great-grandfather, W.E. Clark, provided masonry to build the Argenta Library.

CBM has “succeeded in actually shaving time off of their projected timeline; they’ve been phenomenal,” Bailey said. “Anything that the mayor has requested of the contractor, they have stepped up and done it.”

Bailey said the ATG Pavilion is a private project for city-owned Argenta Plaza at 510 N. Main St. The $3 million public art installation will eventually feature 21 bronze statues of legendary Arkansas musicians by the sculptor Kevin Kresse. The centerpiece, in a structure inspired by famed architect Fay Jones’ Thorncrown Chapel, will be an 8-foot statue of Johnny Cash, a replica of the Kresse piece now displayed in the U.S. Capitol.

Other statues will depict Sister Rosetta Tharp, Glen Campbell, Al Green and Levon Helm, the late drummer and singer for The Band.

Greg Nabholz believes that the growing momentum on the north side of the Arkansas River will easily spill over to Little Rock, including the River Market region that Willy D’s is departing.

“I’m excited with what we’re doing, along with the conference center and the new hotel on the Greyhound site, and you’ve already got momentum with Dickey-Stephens Park and Simmons Bank Arena,” he said.

“But the bigger picture is that the downtown areas on both sides of the river are going to be a much bigger draw factor for tourists and visitors and even new residents. On the Little Rock side, you have the Clinton Library expansion and the things that are happening in the East Village. With the plans to reimagine Dickey-Stephens Park as a mixed use area, all of this is coming together on the riverfront.”