Condo project aspires to outshine LR rivals
By Laura Stevens
Arkansas Democrat Gazette
LITTLE ROCK — At $65 million, The Ashford will be the latest and one of the most costly high-rise condo projects in Little Rock.
The 14-story building won’t be the tallest residential tower in town - that distinction goes to the 20-story River Market Tower under construction at River Market Place. Nor will the Ashford overshadow the 18-story 300 Third Tower, whichopened last year at a cost of $45 million.
But the developer, Little Rock-based The Hathaway Group, says it will be unlike anything else in the market.
The tower is inspired by those in bigger cities across the United States, said Hathaway spokesman Mark Rushing, who added that further details will be revealed on Tuesday.
“Jim Hathaway [the developer] says you’d have to go toareas like Dallas, Atlanta, Nashville to find something similar,” Rushing said.
The Ashford will be at 2001 Riverfront Drive, about a half mile west of the Alltel Corp. headquarters building. It will house 44 residences.
Units will range from 2,000 square feet to 3,500 square feet, according to a Web site that was online Friday,
www.theashfordlittlerock.com. Each unit will have a private balcony, fine cabinetry, European appliances and the latest electronics.
There will be a concierge, and residents will be able to reserve two fully furnished guest rooms, the Web site states. There is also a fitness center, a swimming pool, hot tub, club room and card room.
The condominium tower site was originally approved in May 2004 by the Little Rock Planning Commission for a 13-story, $36 million high-rise condominium to be known as the River Tower. The planning commission originally recommended denying the application because of height concerns and the proximity to neighbors but reversed its position after the developer revised the plans.
The Little Rock Board of Directors approved the luxury high-rise building in June 2004, despite strong protest from neighbors who didn’t want the building towering over them.
Hathaway planned a 38-unit building on the 3.2 acres. The average unit price was to be about $750,000, with two penthouses offered at more than $1.5 million each.
The Planning and Zoning Commission granted an extension to The Hathaway Group in March, when the zoning approval was set to expire.
Hathaway will be joining other Riverdale developers withthe condo tower. The former 11-story apartment building at 3700 Cantrell Road is in the midst of being stripped down and converted to Riviera Condominiums. The $25 million project is transforming the 113 units, built in 1964, into 68 units ranging from 1,200 square feet to 2,700 square feet. Two-bedroom, two-bathroom units will start at $249,000.
Moses Tucker Real Estate, which finished construction on 300 Third last summer, also started construction on the River Market Tower, part of a onesquare-block, $82 million project that also includes a hotel and retail space.
Some condo projects announced in the area never materialized. In North Little Rock, twin nine-story condominium towers and a marina near the new ballpark fell through in November 2006, and Bella Torre, a $54 million, 18-story condo high rise never became a reality.
Tuesday, The Hathaway Group will reveal more information about the new tower, including giving a virtual tour of the building in the new reservation center across the street.