Friday, January 9, 2015

Village Shopping Center changes hands; former Cinema 150 coming down

Posted By on Fri, Jan 9, 2015 at 7:36 AM

click to enlarge DEMOLITION PLANNED: Round building that once housed Cinema 150 is coming down.
  • DEMOLITION PLANNED: Round building that once housed Cinema 150 is coming down.

The Village Shopping Center has been sold and plans to revitalize the property include demolition of the landmark round building that once housed Cinema 150.

Hank Kelley of Flake and Kelley, which brokered the deal and has taken over center management, said MacArthur Investments LLC purchased the property from Greater Missouri Builders in December. His firm is at work on lining up new tenants and getting started on a "healing process" for the property. This includes new lighting, taking steps to end the use of the property for a homeless camp and other improvements. The sale price wasn't disclosed. I couldn't check the deed this morning because of a glitch in the clerk's website.

A demolition permit was been issued for the vacant Cinema 150, one of what was once a chain of huge theaters with massive curved screens and tiered seating. It closed some 11 20 years ago. It has been used sporadically as an entertainment venue.

Now, Kelley said, the vacant building  serves as an obstacle to a street view of the center. 

The Village, one of the state's first shopping center, was built in the early 1960s at what was then Asher (it now becomes Col. Glenn at the University intersection), a major U.S. highway junction  that had one of the state's highest traffic counts. Interstate highways were among the changes that brought a decline in the area.

Kelley said the center's 153,000 square feet of buildings are about 50 percent leased, with tenants that include a clothing store, a rental business and an Asian restaurant and grocery store.

He said his firm has a signed lease for 15,600 square feet of retail space that is currently being remodeled and a letter of intent on another 16,8000 square feet.

He said potential tenants are encouraged by UALR developments in the neighborhood. It has moved into much of a former shopping center on the south side of Col. Glenn and its track and soccer facility adjoins the center on land donated to the school by the former owner of the Village.

Kelley said he was confident that plans in the works will make the intersection "a brighter spot."

Tags: , , , ,

From the ArkTimes store

Favorite

Speaking of...

Comments (22)

Showing 1-22 of 22

Add a comment

 
Subscribe to this thread:
Showing 1-22 of 22

Add a comment

More by Max Brantley

  • UPDATE: Fourth death confirmed in Polk County; suspect identified

    UPDATE: The body of Reilly Scarborough has been found, bringing to four the number of family homicides in Polk County. The nine-year-old was found in woods west of Hatfield. A suspect is in custody.
    • Apr 29, 2017
  • The Saturday open line

    An open line for a Saturday not yet as rainy as predicted, at least everywhere.
    • Apr 29, 2017
  • Baker Kurrus: Opposes Little Rock School District tax proposal

    Baker Kurrus has written a monumental essay explaining why he opposes the proposal in the May 9 special , the Little Rock lawyer and businessman who long served on the Little Rock School Board and spent a year as its superintendent after the state takeover before being fired by Education Commissioner
    • Apr 29, 2017
  • More »

Readers also liked…

People who saved…

Most Shared

  • Workers stiffed

    How is it going with the great experiment to make the Republican Party the champion of the sons and daughters of toil instead of the oligarchs of wealth and business?
  • Former state board of education chair Sam Ledbetter weighs in on Little Rock millage vote

    Ledbetter, the former state Board of Education chair who cast the decisive vote in 2015 to take over the LRSD, writes that Education Commissioner Johnny Key "has shown time and again that he is out of touch with our community and the needs of the district." However, Ledbetter supports the May 9 vote as a positive for the district's students and staff.
  • O'Reilly's fall

    Whom the gods would destroy, they first make TV stars.

Visit Arkansas

Fishing the Diamond Lakes of Arkansas

Fishing the Diamond Lakes of Arkansas

Arkansas angler and fishing expert Billy Murray shares his extensive knowledge of the Diamond Lakes of Arkansas

Most Viewed

Most Recent Comments

Blogroll

Slideshows

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation