Board approves downtown LR location for tech park site

Members of the Little Rock Technology Park Authority Board unanimously approved a potential location for its project during its monthly meeting Wednesday afternoon.

The board’s real estate consultant Jeff Yates recommended the location along Main, Scott and Fourth streets in downtown Little Rock to the seven-member board before it voted. 

The proposal, which was made by ARK Commercial and Investment Real Estate, recommends that the Technology Park Authority acquire properties at the west and east half-block of the 400 block of Main Street, the west half-block of the 400 block of Scott Street, a parking lot at the northeast corner of Main and Fourth streets and a parking lot along Scott Street near the Junior League building.

“This will provide 540,000 square feet of buildable space,” Yates said.

A proposed development site features three six-story buildings with skywalks accessing each building and a parking structure, which would accommodate approximately 1,000 cars.

Yates' recommendation comes after he initially delayed the presentation during the board’s June meeting, when no appraiser had been hired, the Arkansas Democrat-Gazette previously reported.

The purchase of this site depends on confirmation of necessary available funding, as well as the security of all zoning approvals, rights of way, alley closings, franchise rights, air rights, demolition approvals and any other governmental approvals needed, a preliminary report by ARK Commercial and Investment Real Estate states.

Read Thursday's Arkansas Democrat-Gazette for more details.

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