NEW $36 MILLION UPSCALE APARTMENT PROJECT SLATED FOR DOWNTOWN ARGENTA - THE VUE

Construction will begin in the next few weeks on a 244-unit, upscale apartment complex to be known as THE VUE. The $35.6 million development is a joint venture between local developers TERRAFORMA and NEWMARK MOSES TUCKER PARTNERS (NMTP). The project will be located on a 6-acre site, situated on the north bank of the Arkansas River just west of the Broadway Bridge.

“The land was purchased in early 2017,” stated Dave Bruning, a partner with TerraForma. “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”.

Chris Moses, CEO of NMTP, added, “This will be an amenity-rich property, unlike any other apartment community in downtown LR/NLR. In addition to its access to the Bike Trail, THE VUE will feature, a “resort-style” swimming pool, fitness center, clubhouse with kitchen area, billiard tables & golf simulator. The perimeter of the complex will be gated and feature both covered parking and some enclosed garages. It is our vision to give residents of THE VUE a unique position to experience the heart of downtown living unmatched by any other property in the region.” The buildings will include both three and four-story construction with elevator access to all units. Approximately one-half of the units will feature river/skyline views.

"Our city welcomes THE VUE as the latest incredible addition to our downtown,” said North Little Rock Mayor Joe A. Smith. “This is just the sort of project that fits with our focus of making North Little Rock attractive to the next generation who want to walk to the places they live, work, and play. Exceptional developments like this one understand the benefit that comes with proximity to both LR and NLR downtowns, the Arkansas River, Dickey Stephens Ballpark, Verizon Arena, and all the other dining and entertainment options in Argenta."

NMTP has been involved in over $300 million worth of projects in downtown Little Rock, including a half dozen multi-family projects and four mixed-use condominium towers. TerraForma was responsible for the renovation of the historic Fulk Building at 3rd and Main in downtown LR, as well as the new 301 Main Building, which opened in 2015. THE VUE will be both companies’ first venture in Argenta.

The apartments are the latest announcement for rapidly developing Argenta. Just a short walk away, First Orion’s new five-story, headquarters building is rising, along with a second building that will house Taggert & Associates, architects. The City of NLR will open the new $6 million, Argenta Plaza at 5th and Main S

treets later this year. In addition to TerraForma and NMTP, the project team includes Central Construction Group and Thomas Engineering. Construction financing is being provided by ARVEST Bank. Construction will take approximately 18 months and units will be available for occupancy in the 1st quarter of 2021. NMTP will handle the leasing and property management.

For more information contact Chris Moses at cmoses@newmarkmtp.com or 501.376.6555.