Complex gets permit for $13.5M addition
A permit has been obtained to build a $13.5 million addition to the Wimbledon Green Apartments near Baseline Road and Wimbledon Loop in the Otter Creek area of Little Rock, but work isn't beginning just yet.
The permit was issued last week for the project, which totals 130,490 square feet and will consist of three buildings totaling 156 units, six garage buildings and a maintenance shed, according to information supplied for the permit. The contractor is VCC LLC of Little Rock.
BSR Trust LLC purchased the land for the second phase in January. BSR acquired the 6 acres for $432,000. The seller was Otter Creek Land Co.
A BSR representative said Monday that the company isn't quite ready to move forward on the project.
"The permit opens up options for future growth," said Spencer Andrews, the company's marketing director. "But we're not ready to put a timeline on it yet."
BSR also owns Bowman Heights, Briarwood, Markham Oaks, South Oaks, Spring Valley and The Waterford apartments in Little Rock and Indian Hills and Overbrook apartments in North Little Rock.
BSR also has apartments in Conway, Fayetteville, Hot Springs and Blytheville.
BSR also owns apartment complexes in Louisiana, Mississippi, Oklahoma and Texas.
-- Noel Oman
3 insurers approved to operate in state
Three out-of-state insurance companies have earned approval to offer their products in Arkansas.
State Insurance Commissioner Allen Kerr granted Amerigroup, West Bend Mutual and Cimarron insurance companies the authority to sell policies in the state, according to a Monday news release.
Kerr has approved 13 new companies so far this year, 78 since the start of 2015.
Amerigroup, of Houston, offers accident and health policies to individuals, employers and those eligible for Medicaid and Medicare Part D programs. Cimarron, of Scottsdale, Ariz., offers accidental death and dismemberment insurance for long-haul truckers, among other plans. West Bend Mutual, of West Bend, Wis., was formed in 1894.
-- Nathan Owens
State index off 1.72 to end day at 461.74
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 1.72 to 461.74 Monday.
Nine stocks declined and seven advanced.
"Hitting record highs, the S&P 500 and the Nasdaq exchange rallied as investors were encouraged by news that the United States and Mexico reached a trade agreement," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
Total volume for the index was 15.7 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 08/28/2018