Work starts on upscale apartments in LR

Construction has begun on a $3.2 million upscale apartment complex on Aldersgate Road in west Little Rock.

The project, Ascent at Aldersgate, will consist of 50 one- and two-bedroom apartments on 2 acres at 1310 Aldersgate Road. It was previously called The Preserve at Aldersgate.

Consolidated Construction Inc. of Little Rock obtained permits for the development, which consists of three three-story buildings housing the apartments and a clubhouse that includes two apartments, according to the permits.

"The luxury units will have open and modern living spaces with the numerous amenities and shared areas for its tenants," according to a pitch to potential investors.

Financing includes a $650,000 loan from the Property Assessed Clean Energy program, a Pulaski County energy-efficiency effort designed to fund "green" improvements such as insulated roofing, LED lighting, water conservation fixtures and energy-efficient cooling and heating systems, with the aim of minimizing energy use.

Adron Gilbert, one of the development's partners, said weather has delayed the project, which is expected to be finished in early 2018 rather than in late 2017 as he earlier envisioned.

-- Noel Oman

Business on 05/09/2017

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