- MOSES AND TUCKER: The long-time downtown developers are adding to the apartment stock with new construction and renovations south of the River Market.
Little Rock natives Jimmy Moses and Rett Tucker, both from families with deep roots in Arkansas, formed Moses Tucker Real Estate in April 1998. Since then, the firm has either initiated or has been hired to develop 21 projects downtown, 16 of which have a residential component. The value of the projects adds up to nearly $270 million, representing just a partial investment in downtown Little Rock in the past 20 years.
Moses Tucker's residential development has added 619 units to downtown, and the firm plans to build more: Tucker says the downtown housing market isn't "saturated" by any means. He estimates the company will work to add 50 to 100 units a year in the next decade.
Moses Tucker focused on the River Market district initially, and has made a steady march south in step with new life on Main Street and its parallel streets east. The company's first development was the Tuf-Nut blue jean factory at 423 E. Third St., which it renovated into lofts in 1999. At the time, it was like a little bit of SoHo had come to Little Rock.
The company moved into new construction, both as owners and managers, with four high-rises and multiple complexes filling in blocks between Rock and Sherman streets south of President Clinton Avenue, and it continues to renovate old spaces, like the Mann Building at Third and Main streets.
Speaking of SoHo, Moses Tucker also has a hand in the East Village, the old industrial neighborhood north of Ninth Street and east of Interstate 30. Spirits, literally, have lifted the area, with Rock Town Distillery at 1216 E. Sixth St. and craft brews and eats at Lost Forty Brewing at 501 Byrd St. and Rebel Kettle, 822 E. Sixth.
Moses Tucker and Cromwell Architects Engineers joined the mix last year to develop the Sterling properties at Sixth and Shall streets. The renovated Sterling Paint warehouse at the corner will house the Cromwell firm on the first floor and 16 apartments on the second.
The company's latest project is the Craftsman-style Clayton, which will add 48 apartments to the block on the west side of Scott Street between Ninth and 10th streets. Moses Tucker has also bought, for $900,000, property at the corner of Sixth and Cumberland streets, where its previous owner hoped to build a hotel. The new development will likely be a six-story mixed-use construction, with retail on the ground floor and apartments above.
In the last 15 years, according to Metroplan, the population of downtown Little Rock has increased by more than half — 54 percent. Tucker predicts that thanks to new businesses occupying in the Little Rock Technology Park opening March 1 on Main Street — which is bringing a coffee shop (Blue Sail) to Main Street and is partly to credit for a new restaurant coming to the Rose Building at 307 Main St. — and other new development, the need for new residential units will double in the next few years.
The River Market district, the Clinton Presidential Center and Heifer International are no longer on an island of activity: New places to live, be entertained and do business are bridging the River Market-Downtown gap and making the area's vitality not just an optimistic assessment, but fact. Now, Tucker says, he'd like to see the city implement a master plan for downtown's next decade.
Moses Tucker, which has expanded into Northwest Arkansas and is doubling its office footprint in the Capital Commerce Center, has either developed or hired to develop the following in downtown Little Rock:
- BUILDING DOWNTOWN UP: High-rises Rive Market Tower (left) and 300 Third are Moses Tucker developments.
Tuf-Nut Lofts, 423 E. Third St., 36 loft apartments, $2 million project.
Clinton Presidential Park, 1200 President Clinton Ave., assembled 30 acres, $10 million project.
Little Rock Regional Chamber of Commerce Headquarters, 200 E. Markham St., development manager, $3 million project.
The Pour House, 300 President Clinton (now the Revolution Room), development manager, $2 million project.
Arkansas Capital Commerce Center, 200 River Market Ave., offices, 16 condominiums, restaurant, a $14 million project.
Clinton Presidential Storage Archives, $3 million project.
Heifer International headquarters, 1 World Ave., land assemblage and development manager, $25 million project.
First Security Center, 521 President Clinton Ave., 14-story hotel, office, bank branch, 24 condominiums development, $14 million.
Rainwater Flats, 519 E. Capitol Ave., 20 condominiums, a $3 million project.
300 Third Tower, 300 Third St., 18-story residential project with 98 condominiums, restaurant and salon, $42 million.
The Cliffs, 810 North St., apartment rehabilitation into 73 condominiums, $7 million.
River Market Tower, 315 Rock St., 20-story development with 132 condominiums, restaurant and grocery, $58 million.
Rainwater Apartments, 519 E. Capitol Ave., adaptive reuse of 12 apartments, $1 million project.
Mann Building/Lofts, 324 Main St. and 310 Main St., historic renovation for offices, 19 loft apartments, restaurants, a $22 million project.
The Magnolia, 401 E. Capitol Ave., rehab of 12 apartments, $1 million project.
The Arcade, 100 River Market Ave., joint venture with the Central Arkansas Library System, theater, archives, Clinton School for Public Service classrooms, restaurant, retail, offices, a $14 million project.
MacArthur Commons, 414 E. Capitol Ave., 59 rental apartments, $8 million project, sold for $10.5 million to David Thompson.
The Row at Legion Village, 516 Rock St., 36 rental apartments, a $5 million project.
Arkansas Democrat Lofts, 615 Main St., historic renovation for eight rental apartments, restaurant, $3 million project.
The Clayton, between Ninth and 10th streets on Scott Street, 48 rental apartments, $6 million project.
The Paint Factory, 1300 E. Sixth St., historic renovation for Cromwell architectural firm, 16 loft apartments, a $10 million project.