little rock arkansas – An old office building in downtown Little Rock will soon be home to more than 100 apartments.
A South Carolina-based company was recently awarded a $10 million contract and began work on converting the old AT&T building on Congress Avenue into a new apartment complex.
The apartment will feature two bedrooms, two bathrooms and an apartment-style apartment.
Amenities include a rooftop pickleball court, rooftop swimming pool, and first-floor meeting and work space.
The building has been vacant for several years, but Georgia developer Pace Burt hopes that this time next year, in early 2027, it may become home to his newest tenant.
“We want a safe, clean, affordable community and program, and that’s what we’re working toward,” Burt said.
Burt was the developer of Little Rock’s recently renovated Veterans Administration hospital, now known as SoMa Apartments.
Now, he will invest more than $10 million, which he says may be in the teens, into long-term major projects downtown as he aims to revitalize it and build his second apartment complex in the city.
“I love the location and the view of the Arkansas River and the Capitol from upstairs,” Burt said. “So we were really excited about this building and had to sit on it for a while until we finished the other one.”
Historic preservation tax credits make the renovation of these older buildings not only a more profitable investment for Burt, but also easier to renovate.
“You know, the cost of these buildings, you know, renovating a historic style building, it might cost 25 percent more to run than your garden apartment,” Burt said.
Rent for these units may range from $1,400 to $1,500. Some may say this is expensive.
“I’m hearing that people want more affordable units, so that’s a big thing. The problem is these things are so expensive. I mean, in some cases, hundreds of thousands of dollars per unit,” Burt said.
Burt also said the new buildings are not designed to push people out of the community who cannot afford housing.
“What’s the old saying? ‘Pigs get fat, pigs get slaughtered.’ You know, we’re not here to take advantage of anybody,” he said.
Burt also said this likely won’t be his last adventure in Little Rock, either, noting that he already has his sights on one or two other locations.
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