LITTLE ROCK — Developers on Wednesday announced a $20 million plan to convert a historic building on Little Rock's Main Street into a mixed-use space with office, retail and residential components.
The Doyle Rogers Company and Moses Tucker Real Estate say the project to revive the 7-story building at 317 Main Street, which once housed the flagship of Blass Department Stores, will be completed by the middle of next year.
The effort includes creating roughly 100,000 square feet of office space. Around 65,000 square feet has already been leased to the state of Arkansas, which will place 200 employees with the Office of Child Support Enforcement there.
The project also includes constructing a 300-car parking garage at the northeast corner of 4th and Louisiana Streets, developing six to eight retail or restaurant spaces at street level and adding loft-style residential apartments.
Ryan Lasiter with the Doyle Rogers Company said no retailers have yet signed leases, but that officials are confident there will be interest.
"This project we all think will be a catalyst for bringing exciting and interesting development to Main Street," he said.
According to a news release issued by the two developers, the project was "made possible through New Market Tax Credits awarded by the Heartland Renaissance Fund of Little Rock and a construction loan from Iberia Bank."
Developers also recognized other work in the area, including the Rep Theatre's improvements in the 600 block of Main.
“Doyle Rogers had the vision to acquire this real estate over 12 years ago in anticipation of the time when we felt redevelopment of Main Street was right," Tommy Lasiter, chief executive of Doyle Rogers said in a statement. "... The time has now come.”