Group's objective is livelier LR hub

Members of the loosely formed Financial Quarter walked the lobby of Bank of America at lunch Tuesday, looking for opportunities to make better use of street-level space in downtown Little Rock, such as plazas, expansive bank lobbies and sidewalks that could be used for outdoor dining.

The quarter's purpose is to make downtown a more active environment where people can "work, live and play," said coordinator John Martin, vice president of commercial brokerage for Moses Tucker Real Estate.

The group met on the bank building's fourth floor to discuss plans for moving toward its goal. Conversations about developing a designated financial district have been taking place for the past year, Martin said. Arvest Bank was represented at the meeting, as were Bank of the Ozarks, Simmons First National Bank, Regions Bank, several property owners and commercial real estate groups.

The quarter's boundaries are Main Street to the east, Broadway to the west, Sixth Street to the south and Markham Street to the north. The group met for the first time last month at StudioMain, and it has engaged the nonprofit to develop a master plan and set of objectives for making the area more engaging in the daytime and promoting more activity at night. So far, $7,500 has been committed to the planning part of the project.

Children's literary events, rock-climbing, live music, outdoor yoga and a pub-type crawl are among some of the suggestions Martin has received. There's also talk of a permanent "transformative piece" like the Market Hall is to the River Market, he said. More restaurants are a priority, as is permanent and temporary -- or "pop-up" -- retail.

With more lofts and condos expected to go on the market in the next two years, plus prospective employees of the still-developing technology park, "those people will need a place to hang out," Little Rock Mayor Mark Stodola said.

The Financial Quarter bumps up to what is known as the Creative Corridor, which runs along the once-neglected Main Street. The goal is to re-brand the Financial Quarter as it develops, just as the Creative Corridor is gaining new signs and an enlivened streetscape. Stodola said at the meeting that banners soon will be put up along Main Street, from the 100 block through the 600 block and eventually into South Main.

"That will help as a branding issue to further refine that," the mayor said of the Creative Corridor. Grants totaling about $550,000 will be used to add art and culture as it relates to Main Street.

"To the extent that we're branding a financial corridor and how that integrates with the River Market and the Creative Corridor, I think there's some really good thinking there."

He offered his staff to help with creation of the Financial Quarter and suggested finding creative ways to fund it.

Business on 02/04/2015

Upcoming Events