Wednesday, March 7, 2012

$20 million redevelopment planned for Main Street

Posted By on Wed, Mar 7, 2012 at 1:06 PM

TARGETED FOR REDEVELOPMENT: Blass building at 4th and Main.
  • Brian Chilson
  • TARGETED FOR REDEVELOPMENT: Blass building at 4th and Main and three-story annex.

IN ITS HEYDAY: Blass building.
  • IN ITS HEYDAY: Blass building.
The Doyle Rogers Co. and Moses Tucker Real Estate announced today plans for a $20 million redevelopment of the seven-story Blass department store building at 317 Main and an adjoining three-story annex.

It will be developed for offices — Arkansas Child Support Enforcement will be a major tenant — 20 loft-style apartments and retail and restaurants, according to the news release. The development, as the site plan below shows, includes a new parking deck.

Child Support is to take about 65,000 of the 92,000 square feet of office space. About 7,500 square feet will be available for retail and restaurants. The three-story annex will be solely devoted to apartments. Green space is planned between that building and the new parking deck to the west.

Developers note other recent activities of progress on Main, including the recently completed Arkansas Rep renovation and work to improve the old Stephens Inc., properties at Capitol and Main. The Exchange Bank Building at at Capitol and Main is being renovated for the Department of Higher Education, currently in an adjacent building. IT staff from the Department of Education currently in two buildings, will consolidate there, too.

Child Support Enforcement will move from space in the old Arkla building on East Capitol, acquired several years ago by Moses Tucker. Chris Moses said the old Arkla building was "obsolete, but functionally and economically." There are no plans to move new tenants in that space. He said Moses Tucker hopes to announce a new development there in the next six to eight months. Demolition is one possibility, I gather, though he said it was too soon to say exactly what final plan might emerge.

Child Support expects to make its move to the new space in 12 to 14 months.

siteplan.JPG

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