MacArthur Park District Heats Up Downtown Little Rock Apartment Market
Moses Tucker Real Estate announced Tuesday the $754,000 sale of the St. Clair Apartments at 500 E. Sixth Street in downtown Little Rock.
The new owner of the 12-unit apartment complex in the heart of the MacArthur Park Historic District is St. Clair on 6th LLC, led by Rusty Thompson. Moses Tucker closed the property Thursday, March 17.
"I’m enthusiastic about acquiring the St. Clair Apartments in downtown Little Rock and excited to be a part of this growing market," Thompson said in a news release. Moses Tucker Real Estate will be retained as the property manager and leasing agent of the property.
The $6.5 million project sits along Rock Street between East Capitol and Sixth and is scheduled to open this summer. Lease prices start at $810 per month and both one and two bedroom units are available.
"There’s a huge demand right now for multi-family product," said Ray Nolan, vice president of development for Moses Tucker. "We believe The Row at Legion Village is well-positioned to take advantage of that. Our MacArthur Commons project, directly across the street on East Capitol Avenue, is 100 percent occupied. This speaks directly to the need for new and distinctive multi-family apartments in downtown Little Rock."
The project also includes the renovation of the M.M. Eberts Legion Post building into 7,500 SF of commercial space. McNellie Group of Tulsa has signed a lease for a retro bowling alley and restaurant in that building.