Rainwater Building redo for Capitol Avenue apartments | Arkansas Blog

Friday, January 13, 2012

Rainwater Building redo for Capitol Avenue apartments

Posted By on Fri, Jan 13, 2012 at 9:01 AM

RAINWATER BUILDING: To be converted for apartment use.
  • RAINWATER BUILDING: To be converted for apartment use.

A project is underway to convert the Rainwater Building at 519 E. Capitol Avenue into 12 one-bedroom "luxury" apartments. An earlier plan by a previous owner to convert the building to condos never got off the ground, but Chris Moses, developer of the project, cites high interest in downtown apartment rentals as a driving force in this project. Rents should be competitive with similar projects downtown, he said, about $1.10 a square foot. As a historic property, it will qualify for state and federal tax credits.


Rainwater Apartments, LLC, led by Chris Moses, has purchased the historic Rainwater Building located at 519 E. Capitol Avenue and is slated for a major renovation. The building is listed on the National Register of Historic Places and is one of the more architecturally significant apartment buildings in Little Rock. The historic Rainwater Building was built in 1914 as apartments, and was originally designed by Thomas Harding.

Development plans call for the conversion of the historic structure into 12, one-bedroom luxury apartments, which will be among the nicest apartments in the area. The units will range in size from 800 to 900 square feet. Additionally, the project will offer hardwood floors, granite countertops, stainless steel appliances and gated & secured parking. Construction will start later this month and should be complete by early summer.

The demand within the River Market District for upscale apartments is at an all time high. Overall occupancy rates for multi-family properties are over 98% within the area. Similar properties, such as Tuf Nut Lofts, have a two month waiting list for new prospects. “It is exciting to see the demand for housing in the River Market District grow. We will continue to develop all forms of housing opportunities downtown, so long as the demand exists,” said Chris Moses, Development Manager with Moses Tucker Real Estate, Inc.

Over the last ten years, Moses Tucker Real Estate has developed over $200 million in various product types within the River Market District, including the River Market Tower, 300 Third Tower and the First Security Center. In 2005, Moses Tucker was also involved in the successful development of Rainwater Flats, which is located next door to the proposed Rainwater Apartments.

The project team consists of the following:

Owner: Rainwater Apartments, LLC

Developer: Moses Tucker Real Estate, Inc.-Chris Moses

Architect- Cromwell Architects & Engineers- Michael McCallum

Contractor: Central Construction Group- Cody York

Lender: Central Bank- Megan Powell

For more information contact Chris Moses at 501-376-6555.

Tags: , , , , , ,



Subscribe to this thread:

Add a comment

More by Max Brantley

  • Kavanaugh reporting recovers prep school memories; brings credibility into focus

    The Brett Kavanaugh nomination is producing reporting on the culture of Washington prep school life in his day — a time of heavy drinking long before Me, Too. Example: The Washington Post today. But it also spurred accounts of Kavanaugh's lack of truthfulness on other matters.
    • Sep 20, 2018
  • Clarke Tucker punches an absent French Hill in TV 'debate'

    Democratic state Rep. Clarke Tucker took full advantage of Republican incumbent Rep. French Hill's refusal to participate in a TV debate on Channel 7 last night with a series of jabs at Hill on policy issues and for avoiding debate.
    • Sep 20, 2018
  • Moving deck chairs

    Governor Hutchinson has promised to soon reveal his ideas for "transforming government" — a reorganization aimed at reducing the number of departments that report to the governor.
    • Sep 20, 2018
  • More »

Readers also liked…

  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017
  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017
  • Payday lenders on the march at legislature

    Payday lenders are working hard to get legislative cover for the reintroduction of their usurious loan business to Arkansas. Some are fighting back.
    • Mar 10, 2017


Most Viewed

Most Recent Comments


© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation