I have a rental property in Little Rock, AR less than half a mile from this new retail development in Little Rock, AR. Raising Cane's, Uncle Julio's, Chili's and Starbucks are just a few brands planning to occupy space here. For those of you familiar with this market, how do you think this will effect appreciation/rent? What have you experienced with your rentals near a major retail development? Any other thoughts in general?
The District at Midtown -- https://www.arcgis.com/apps/Cascade/index.html?appid=e719042c045b448cb55a72b60bd48045
I like the location for rentals and think the addition will help. We've tried to buy in that area a few times but have not yet been able to make the numbers work for both us and the seller. We'll keep trying. Theft has been a bit of an issue close to the development. Not sure whether the new development will help with that. Still, I think you'll see more appreciation than many surrounding areas. You probably also saw that the City tentatively plans on closing the War Memorial Golf Course across the street from the new development and convert it to other park-like uses. That could also help. You're in a good location that will likely only get better over the next few years.
@Mark Rogers - I didn't know the golf course was closing too. Wow! They are really turning that area around. I see a lot of new development in the Pettaway district as well. Thanks for the insight.
@Aaron Wade the LR Midtown area is a good area.
In regard to your question, it depends what side of the I-630 you are on. north on 630 is very good, but south is patching the lower you go. this development been on the card for few year, it would be good if its finally going a head.
@Hadar Orkibi - I am south of I-630, but not too far south. Development should start soon. I also hear there's a Trader Joe's coming to town. It'll likely be in West Little Rock, though.