A proposal to build a new surface parking lot on a half-block section of a downtown Little Rock street, which will require the demolition of four buildings on the site, was deferred Thursday until next month by the Little Rock Planning Commission.
It was the second time the plans for the 112-space lot on the west side of South Louisiana Street and between West Second and West Third streets have been deferred. The proposal was initially scheduled to be heard in June.
The plans were among those added to the consent deferral after sponsors of the application requested the plans be deferred until the commission's September meeting. No reason for the deferral was given.
The lot is intended to serve the headquarters of Stephens Inc., the privately held, independent financial services firm, at 111 Center St., which already has a parking deck.
A limited liability company with ties to Stephens purchased the buildings earlier this year for more than $4.5 million.
The Little Rock planning staff, which recommends approval of the plans, said a parking lot was "an appropriate use" for the property.
"The proposed parking lot will be a private parking lot to serve the Stephens Building to the north, and may serve other buildings in the future," according to a staff analysis provided to the commission. "The property is located in the downtown area which contains a number of surface parking lots serving surrounding buildings and uses."
The staff said the proposed lot would have no adverse impact on the area.
"The property is located in the downtown area which contains a number of surface parking lots serving surrounding buildings and uses," the analysis said. "The proposed parking lot use should be compatible with surrounding uses."
Second and Louisiana Properties LLC, led by Kevin Burns, senior vice president and associate general counsel for Stephens, acquired three of the buildings on the site for $4.3 million earlier this year from Louisiana and Third Properties LLC.
Louisiana and Third is organized by Philip Miron, a partner in the Little Rock law firm of Hyden, Miron & Foster, which housed its offices in one of the buildings at 200 S. Louisiana St.
The buildings also acquired in the deal included the former headquarters of VCC, a general contractor, at 216 S. Louisiana St.; and the Tripp Building at 209 W. Second St.
Second and Louisiana acquired a fourth building, LaSalle Place, at 212 S. Louisiana St., in a separate transaction from 200 Louisiana Street Development Co. Inc., headed by Sam Alley, for $378,000.
East Harding Inc., a Little Rock contractor, has obtained demolition permits on behalf of Second and Louisiana Properties from the city for three of the properties. They were issued on June 11 and expire on the same date in 2020.
The city coordinator for Arkansas Freedom of Information Act requests said the city didn't have a demolition permit for 212 S. Louisiana.
Business on 08/02/2019