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The Stephens Empire: Big Plans for Downtown LR?

CentralArkansas

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Aporkalypse City

Aporkalypse

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Warren Stephens will speak at a brown bag lunch, May 24th, in the Clinton School of Public Service, concerning the future of the Little Rock metropolitan area. Among some of the topics mentioned are the impact of the announced buyouts of Alltel and Acxiom and the unrest in the Little Rock School District. I would be willing to bet that he also touches on his belief that LR and NLR should merge into one city. Might he also address future plans for Main Street? I would think he would
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skirby Town

skirby

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Maybe Mr. Stephens will have some extra cash to put towards his Main St. redevelopment. After all Stephens was involved with both Alltel and Acxiom. Stephens Inc. was one of the acting financial advisors to Acxiom concerning the buyout. Mr. Stephens is a board member for Alltel.
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Architect Town

Architect

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While I wish he would have given a plug to UALR, I liked what he had to say about local health care facilities...

"Stephens said central Arkansas should focus on economic drivers within the community that cannot be bought.

He named health care as being one of the top attractions to the area, specifically with the University of Arkansas for Medical Sciences and Arkansas Children

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turboturtle Hamlet

turboturtle

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Stephens may get Block 2 yet....

HUD Seeks Bidders on Block 2 Mortgage

By Arkansas Business Staff

7/23/2007

It looks like the financially troubled Block 2 redevelopment in downtown Little Rock is moving one step closer to new ownership.

Uncle Sam, through the Department of Housing & Urban Development, is soliciting bids on a defaulted loan and intends to sell it in September.

The loan balance stood at $11.56 million when Capmark Financing Inc. of Horsham, Pa., turned it over to HUD, which guaranteed the mortgage.

Several unnamed parties have inquired about bidding on the loan, which likely will fetch a discounted price. How deep the discount will depend on the zeal of the bidder and/or how lively the competition.

You might recall that Little Rock financier Warren Stephens, who owns adjoining property and other downtown holdings, has previously expressed interest in the redevelopment.

Restrictions on the property will go away if the new noteholder forecloses on Block 2 Ltd., now led by Apollo Housing Capital of Cleveland. Apollo was the prime player in marketing $8 million worth of federal tax credits used to augment the project.

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Aporkalypse City

Aporkalypse

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Stephens may get Block 2 yet....

HUD Seeks Bidders on Block 2 Mortgage

By Arkansas Business Staff

7/23/2007

It looks like the financially troubled Block 2 redevelopment in downtown Little Rock is moving one step closer to new ownership.

Uncle Sam, through the Department of Housing & Urban Development, is soliciting bids on a defaulted loan and intends to sell it in September.

The loan balance stood at $11.56 million when Capmark Financing Inc. of Horsham, Pa., turned it over to HUD, which guaranteed the mortgage.

Several unnamed parties have inquired about bidding on the loan, which likely will fetch a discounted price. How deep the discount will depend on the zeal of the bidder and/or how lively the competition.

You might recall that Little Rock financier Warren Stephens, who owns adjoining property and other downtown holdings, has previously expressed interest in the redevelopment.

Restrictions on the property will go away if the new noteholder forecloses on Block 2 Ltd., now led by Apollo Housing Capital of Cleveland. Apollo was the prime player in marketing $8 million worth of federal tax credits used to augment the project.

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skirby Town

skirby

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Stephens may get Block 2 yet....

HUD Seeks Bidders on Block 2 Mortgage

By Arkansas Business Staff

7/23/2007

It looks like the financially troubled Block 2 redevelopment in downtown Little Rock is moving one step closer to new ownership.

Restrictions on the property will go away if the new noteholder forecloses on Block 2 Ltd., now led by Apollo Housing Capital of Cleveland. Apollo was the prime player in marketing $8 million worth of federal tax credits used to augment the project.

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  • 2 months later...
theman Hamlet

theman

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An article in yesterday's Democrat Gazette said that the Capital Hotel is set to reopen by mid November after a 2 year $24 million redo. The article mentioned that every room will have 32" to 42" flat screen tv's. It also mentioned that they think that it may be 5 star quality. They say that they aren't going for that distinction (it's up to Mobil Travel to provide the 5 star rating), but after all this time an money and with the rep of the Alotian, I bet they are going to put their best foot forward so they are prepared when they get visited by all of the rating organizations.

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skirby Town

skirby

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Stephens may get Block 2 yet....

HUD Seeks Bidders on Block 2 Mortgage

By Arkansas Business Staff

7/23/2007

It looks like the financially troubled Block 2 redevelopment in downtown Little Rock is moving one step closer to new ownership.

Uncle Sam, through the Department of Housing & Urban Development, is soliciting bids on a defaulted loan and intends to sell it in September.

The loan balance stood at $11.56 million when Capmark Financing Inc. of Horsham, Pa., turned it over to HUD, which guaranteed the mortgage.

Several unnamed parties have inquired about bidding on the loan, which likely will fetch a discounted price. How deep the discount will depend on the zeal of the bidder and/or how lively the competition.

You might recall that Little Rock financier Warren Stephens, who owns adjoining property and other downtown holdings, has previously expressed interest in the redevelopment.

Restrictions on the property will go away if the new noteholder forecloses on Block 2 Ltd., now led by Apollo Housing Capital of Cleveland. Apollo was the prime player in marketing $8 million worth of federal tax credits used to augment the project.

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Aporkalypse City

Aporkalypse

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Arkansas Business reports that Lone Star U.S. Acquisitions of Dallas was the high bidder for the mortgage. They paid $7,544,469.61. Lone Star can now foreclose on the loan. Now that HUD is no longer a party in the development the restrictions calling for government-subsidized units are no longer in play. Lone Star is not new to the Little Rock market. They bought the mortgage on the Riverview Apartments before the development became The Cliffs condo project. It will be interesting to see what happens now.
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turboturtle Hamlet

turboturtle

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There is a good article in today's Perspective Section of the DOG. The article fits with this forum topic. A quote from the article is, "Downtown Little Rock starts with Warren and ends with Stephens." The article seems to be addressed to Downtown LR naysayers, and speculates about Act Two of the Downtown renaissance.

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Aporkalypse City

Aporkalypse

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Posted
There is a good article in today's Perspective Section of the DOG. The article fits with this forum topic. A quote from the article is, "Downtown Little Rock starts with Warren and ends with Stephens." The article seems to be addressed to Downtown LR naysayers, and speculates about Act Two of the Downtown renaissance.
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