Revitalization of Little Rock

Little Rock, AR · Member since 2014 · 121 posts · 27 votes

I grew up in the Central High area and went to school there. I am interested in helping to revitalize the area and bring back the greenness of the 50s/60s/70s, building a bedroom community for baby boomers and encourage businesses to move into the area.

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Paul Thompson

Investor · Little Rock, AR · Member since 2015 · 130 posts · 119 votes

10y

Hey @Diane Trotter

Welcome back to town. There has been a resurgence in the Central High area and surrounding "Quapaw Quarter". Specific to Central High area, Summit St has several houses that were completely dilapidated or condemned by the city that have been completely rehabbed. The Creative Corridor Project is getting most of the attention right now. But other area neighborhoods have seen an upsurge in investments, improvements, and community involvement.

Feel free to contact me to talk about your goals and plans. I've attempted to purchase property in the area but so far haven't found the right scenario for me.

Here are several links and articles about current Little Rock revitalization efforts.

http://www.downtownlr.com/files/27/Little_Rock_Cre...

http://www.smartgrowthamerica.org/2014/07/22/mayor...

http://arkansaslife.com/13762-2/

http://www.arkansasonline.com/news/2015/dec/25/lr-...

https://www2.ed.gov/programs/promiseneighborhoods/...

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Douglas SkipworthBusiness Member
Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
10y
Hi, @Diane Trotter.
Welcome to BiggerPockets. As I'm sure you already know, you can learn a ton from the real estate experts on this site.
Your plan is very admirable. Best of luck to you!
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Paul Thompson
Investor · Little Rock, AR · Member since 2015 · 130 posts · 119 votes
10y
Hey @Diane Trotter
Welcome back to town. There has been a resurgence in the Central High area and surrounding "Quapaw Quarter". Specific to Central High area, Summit St has several houses that were completely dilapidated or condemned by the city that have been completely rehabbed. The Creative Corridor Project is getting most of the attention right now. But other area neighborhoods have seen an upsurge in investments, improvements, and community involvement.
Feel free to contact me to talk about your goals and plans. I've attempted to purchase property in the area but so far haven't found the right scenario for me.
Here are several links and articles about current Little Rock revitalization efforts.
http://www.downtownlr.com/files/27/Little_Rock_Cre...
http://www.smartgrowthamerica.org/2014/07/22/mayor...
http://arkansaslife.com/13762-2/
http://www.arkansasonline.com/news/2015/dec/25/lr-...
https://www2.ed.gov/programs/promiseneighborhoods/...
6 Reply
Juli Brandenberger
Investor · Little Rock, AR · Member since 2016 · 4 posts · 0 votes
10y
Hi Diane! We are investing in that area as well. Would love to talk to you about your vision. Have met so many great people redeveloping Central High neighborhood. We just finished a property on Wolfe street. Message me, I can't figure out how to contact you directly.
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Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
10y
Hi Juli! I sent you a response.
0 Reply
Benjamin Fredricks
Real Estate Investor · Port Orange, FL · Member since 2015 · 119 posts · 27 votes
9y
Originally posted by @Juli Brandenberger:

Hi Diane! We are investing in that area as well. Would love to talk to you about your vision. Have met so many great people redeveloping Central High neighborhood. We just finished a property on Wolfe street. Message me, I can't figure out how to contact you directly.
Hi Juli. Would you have an interest in picking up another rehab project on Wolfe Street? I've got a large 6 bedroom home that I just picked up in a package deal from the bank that I'd like to move since I live out of the area.
0 Reply
Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
9y
In a couple of weeks, I will be able to answer. I'll get back to you.
0 Reply
Darryl Bowman
Investor · Imperial Beach, CA · Member since 2015 · 7 posts · 2 votes
9y
I'm interested in this project and will be in the area March 7th.
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Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
9y
Hi Darryl! I'm in Fontana, CA. I won't be in Little Rock until May 17. I see you are in California also. I have no idea of where Imperial Beach is.
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Judy BestPro Member
Investor · Little Rock, AR · Member since 2017 · 81 posts · 62 votes
8y
Hi, Diane: Are you still interested in this project? As transplanted Arkansas, we didn't live the history of these neighborhoods, but we love these beautiful historic homes. We just finished a project on Chester, so we'd love to start another. I'd love to meet up with you if this is still on your radar. Thanks!
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Account Closed
Lender · Hot Springs Village, AR · Member since 2014 · 274 posts · 92 votes
8y
I love this conversation. What a wonderful way to revitalize a neighborhood. Anyone interested in doing this in Hot Springs? There are some grand houses from the bad old days.
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Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Judy I will be in Little Rock again in July 2018. About a month before I go, I will contact you. I became frustrated because people didn't like my "Big City" ideas for trying to get businesses to locate in the area. "We don't want a Wal-Mart because they run small businesses out of businesses!" My aunt and family lived @ 1872 Cross. It was once a grand show place. My uncle lived @ 2201 Dennison Street. The City has taken it over. Anyway...I will get back to you.
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Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Kathie, I've even thought of doing a project in Hot Springs. I have become frustrated. People i know complain about gentrification. I think gentrification is necessary to help inner city to grow and thrive. I'd love to talk to both you and Judy. People in the communities need education, reflection and vision to see that the answer is not a family-owned grocery store on the corner. In order for the neighborhoods to be safe and economically productive, they have to be open to new ideas and participate in the building.
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Judy BestPro Member
Investor · Little Rock, AR · Member since 2017 · 81 posts · 62 votes
8y
Let's definitely get together! You can check out the property we just completed on the MLS, 2315 S Chester. We're proud of it. I'd love to meet regularly with women investors, so let's put this together.
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Judy BestPro Member
Investor · Little Rock, AR · Member since 2017 · 81 posts · 62 votes
8y
Kathie, I don't get to Hot Springs very much, but I'd definitely be willing to do a project there when the right property presents itself. We drove down to look at a property last summer, a call from our marketing. That property wasn't a deal for us, but we had a nice meal before heading back to Little Rock. Let's connect! Can't have too many friends in this business, and we women especially need to support one another.
0 Reply
Jonathan McGee
Rental Property Investor · Memphis, TN · Member since 2017 · 155 posts · 151 votes
8y
I’m in Memphis but I’ve been eyeing the Little Rock market. Personally, I feel like Arkansas’ market will be increase gradually due to their recent approval of medical marijuana. Are there certain areas of Little Rock that are hot right now?
1 Reply
Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Jonathan, I don't know much about the housing market there. I don't know if it would be a good idea to have the legal marijuana market combined with revitalization of areas that are dilapidated and overridden with illegal drug use. Those who do illegal things will find a way to make illegal profit from it and get it to drug addicts. i hope I'm not sounding pessimistic here.
I thing the development should encourage culturally diverse homeownership by people who can contribute to the tax base. I've heard objections to older people having to pay higher taxes on their properties. The city should be able to somehow grandfather older people so they don't have to pay increased taxes. Major retailers could be located along the freeway corridor so communities could be high residential with convenient shopping near by. I would thing major retailers would bring traffic off the freeway for shopping and dining. That's how it is working where I am in Fontana. This is not done so much in Little Rock - I don't know about Arkansas in general.
I talked to the head of community development @ City Hall. People there seem to think if they just have some locally-owned businesses in the neighborhoods it will help revitalize the communities. There is great risk for local businesses because of the high crime rate. Mostly elderly people live in the areas and must travel outside of the areas to do shopping and see doctors. There is no way to attract working people to these areas because of the safety issues and need to travel outside the area for basic necessities and any conveniences.
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Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Judy, 2315 S. Chester is gorgeous. I looked @ Google maps and saw the before. This is an example of my concern. Is anyone doing anything with other houses on the street. I wouldn't, personally, want to live there if other properties are not re-done and neighborhood doesn't change. With the neighborhood as it is, it is easy to single the house out and assume there are valuables there which could attract burglars. One of my best friends lived on 24th @ Chester when the neighborhood was nicer and safer.
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Judy BestPro Member
Investor · Little Rock, AR · Member since 2017 · 81 posts · 62 votes
8y
Jonathan, the Hillcrest/Heights neighborhood are really hot, as is the Governor's Manson Historic District, where our current property is selling. Diane, there's homes redone all around this, selling for good prices, even along Chester. We have the house next door to redo as well, but we aren't going to close until this one sells, because we want to make sure our ARV is correct. The margins will be thinner on that one, because it's down to the studs. Gaines and Wolfe have lots of rehabs, and it's extending on out to other nearby streets. This is such a nice neighborhood, even with the older homes nearby - the neighbors next to ours are thrilled. We invited the neighbors to our first open house. Over 60 of them came and met us.
1 Reply
Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Judy, I have noticed houses beautifully rehabbed in that area. I never hear about the people who purchased the homes. You know more about the process and outcomes than I do. My ideas is to rehab a block @ a time. Your thoughts on this are helpful. I look forward to meeting you.
0 Reply
Randy Pulliam
Little Rock, AR · Member since 2017 · 16 posts · 8 votes
8y
This is a good discussion, but also brings up the "make a difference" vs. "make money" discussion issue. Of course you can do both, but you are swimming against a stream with a very strong current in trying to revitalize that part of LR. It's not an easy or quick turnaround.
But much needed!
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Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Randy, the area must be 1) safe, 2) have local access to necessities, and 3) local business opportunities. Rev. Robinson is working on the 12th Street Corridor. One concern has been the location of a half way/rehab facility there. The crime is high in that area ... even though the 12th Street police station was recently built. Many homeless people live in the area and really would like to keep it the way it is. Unfortunately, I speak from personal experience because my baby sister has drug problems. Our house was torn down but she still hangs out in the area because of the drug connections.
There were grocery stores in that area when i was a child. Tabor Grocery on 12th & Woodrow was where we purchased groceries. My dad washed cars for Mrs. Tabor, her brother, daughter and other employees there. It broke my heart to hear that the store was being targeted for robberies.
Revitalization requires resources and cooperation bottom up and top down.
1 Reply
Judy BestPro Member
Investor · Little Rock, AR · Member since 2017 · 81 posts · 62 votes
8y
That area is already turning around, lots of home already rehabbed and sold for a good price, and it's expanding out. It's okay that everybody doesn't see it, but this combines our two reasons for getting into this business. Neighborhood revitalization with profitability. As homes are rehabbed, neighbors are excited and fix their homes up a little bit. It's a win-win.
1 Reply
Account Closed
Lender · Hot Springs Village, AR · Member since 2014 · 274 posts · 92 votes
8y
@Diane Trotter @Judy Best @Paul Thompson Would like to suggest that if you can come to Hot Springs on Jan. 20 at 6:00 you could join our Hot Springs real estate investor's meetup. Maybe we can get Paul to come down too. Go to Meetup.com to get details.
1 Reply
Diane Trotter
OP
Little Rock, AR · Member since 2014 · 121 posts · 27 votes
8y
Thank you Kathy but I live in Fontana! I plan to move back to LR or at least buy another home there. I have one that my sister and her daughter are living in. I will be in Arkansas in July for family reunion and August for Central High Class Reunion. Maybe we can meet one of those times.
0 Reply
Judy BestPro Member
Investor · Little Rock, AR · Member since 2017 · 81 posts · 62 votes
8y
@Account Closed, we might just take you up on that offer. Send me more details, and we'll add it to our calendar.
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