0 /2/~ THE ft£CfiVEO HODGES F B131~84 FIRM METROPLAN HOOGES / McGETRICK & ASSOC IATES PLANNERS / ENGINEERS/ SURVEYORS LE ROCK~ ARK, 209'h WEST SECOND LITTLE ROCK, ARKANSAS 72201 501 375-4404 February 10, 1984 Richard McGee MetroPlan Seventh Floor Wallace Building Little Rock, Arkansas 72201 Dear Richard: I have enclosed a copy of an updated apartment listing for Pulaski County . These complexes were not listed in our 1983 survey but will be included in 1984 . I expect to have an updated survey out in June , 1984. Thanks for your assistance in this matter. Sincerely, THE HODGES FIRM Chris McGetrick CMC: fkm Proposed Apartment Projects Little Rock, Arkansas 1983 - 1984 Sector Apartment Complex No. of Units % of Total L-6 Quapaw Quarter Apartments b If E- ?!'"- st- ~7d-D8<,,/ (not started) 100 Old Sherman Oaks Apartments (not approved by P.C.) 74 Penzel Place Apartments East 7th & Sherman (up before P.C. in Feb.) 30 204 6% L-7 Geyer Springs Apartments 5201 Geyer Springs (constructed and rented) J Otter Creek Apartments Otter Creek Parkway (under construction and renting) 100 Old Oak Apartments (HUD) 770o N Cl , ~ 5(;5 - 11,0 SW Mablevale Pike & Chicot Road ~ l (constructed) 112 284 9% L-8 Village Center Apartments South of & adjacent to Village Shopping Center - University/Asher) (under construction) Phase I 10 Phase II 28 38 1% L-9 Hidden Valley Apartments 225 Keightley Drive (under construction) 46 Pleasant Ridge Apartments I I 100 7lett5~ ~'p°f ~ 11700 Pleasant Ridge (80 units under const. and renting) 200 Wentwood Valley Apartments n nP£,,,., 2221 Wentwood Valley Drive ;f,'d,.'d,{ l,J~iJOOi:1 v__ i (under const./units being rented) 62 Waterford Apartments 1o/ Grc.v>-- 11f., ), lJ£j -~ ':>S4 J Green Mtn. Drive & Schackleford) (completed) 256 Summerhill Apartments 419 Bob White 11/q foltv~Vr ~l3-Lf 3or? (completed & renting) 53 Darby Place Apartments Cantrell & Darby Place (under construction) 70 Sector Apartment Complex No. of Units % of Total L-9 Barclay Apartments Rainwood & Green Mtn. Drive (constructE:d) 44 Markham View Apartments Mara Lynn & Greeri Mtn. ~rive (under const./renting) 120 Forest Place Apartments - Phase II 1402 Pierce Street · (under constructton) 34 Shadow Lake Apartments 1 , /11 W. M"'11~ J?-1 -700:>- SE Corner of Stacy & W. Markham (under construction) 152 River Oaks Apartments Phase I (under construction) 38 Phase II 90 2501 Riverfront Drive Brightwater Apartments ;J-'f )..b f._; rfP.--. U,'{-8o(po Riverfront Drive & Turtle Creek La e (under construction) 256 Nappa Valley Apartments 5ol N"-!A 1JL. 1,. J.?-5~ .;l~ NE Corner of Nappa Valley & Ma a Lynn (approved by P.C.) 240 Ginny's Vineyard Apartments .,, V NW of the Intersection of rYJoo ~,rxJ 0i9-flkf't~) , ~-J.8th Gamble Road & Rock Creek Parkway 0 (approved by P.C.) 148 Turtle Creek Apartments Nappa Valley Road IPD / Ne&ftt \J. (immediately South of Aggapa Church) (approved by P.C.) 216 Reservoir Terrace Apartments East side of Reservoir - 200 ft. north of Intersection of Northedge & Reservoir ( approved by P·. C. ) 240 West Side Creek Apartments,111oc::::./l:,r-e k_ lJ n .I_C\ J Sam Peck Road 1 .,1 v ~~ d-~~ ';l.T).; 600 ft. South of Highway 10 (approved by P.C.) · 142 Pleasant Wood Apartments 11 ~oo P(fMJvif R..ift1,. Rf :0.'3-d-o~- Highway 10 at Pleasant Ridge Drive o 0 (approved by P.C.) 220 Yorktown Apartments Rodney Parham & West Capitol (to appear before P.C. in Feb.) 178 84% TOTAL ALL SECTORS 3331 Proposed Apartment Projects North Little Rock, Arkansas 1983 - 1984 Sector Apartment Complex · No. of Uni ts L-10 Bradford Oaks Apartments 6301 Camp Robinson Road (constructed/rented) 120 Overbrook Apartments - Phase IV 5901 John F. Kennedy (constructed/rented) 96 Overbrook Apartments - Phase V 5901 John F. Kennedy (approved by P.C.) 200 Elderly Apartment Units 26th & Division (constructed/renting) 74 Country Club Apartments 7700 North Hills Boulevard (under construction) 104 North Hills Townhomes (nearing completion) 10 Elderly Apartment Units Scenic Hill Drive (approved by P.C.) 50 Metropolitan Trust Apartment Units Jackson Boulevard & Lakeview Road (approved by P.C.) 76 Foothills Apartments :;J..L{O/ Wce._Y ,'&.J Rf. 15/j,5'360 Jackson Boulevard & Lakeview Road (approved by P.C.) 152 Le Marquis Apartments 2401 Parker (addition - constructed) 8 Le Marquis Apartments Addition 1700 Arrowhead Road (preliminary approval by P.C.) 36 Remainder Pulaski County L-11 Jacksonville - HUD Assisted Apartments (constructed/rented) 100 Stonewall Apartments (constructed/rented) Phase I 64 (planning stages) Phase II 60 Sector Apartment Complex No. of Units L-13 Millwood Apartments Phase III Maumelle New Town (constructed/rented) 104 Gravel Ridge Apartments (constructed/rented) 45 North Quarter Apartments Brockington Road (awaiting Bond financing) 200 573 Source: The Hodges Firm; City of Little Rock - Office of Comprehensive Planning; City of Jacksonville; City of North Little Rock Planning Department; MetroPlan - 19BS APARTMENT HOUSING PULASKI COUNTY, ARKANSAS TH£ ~s~1?ow?.n0~~R1!IRM PLANNERS / ENGINEERS / SURVEYORS [I] ~W~CON~722111 PHONE (501) 37!>-4404 Multi-Family Apartment Survey June, 1983 Prepared By THE HODGES FI RM 2091/2 West Second Street Little Rock, Arkansas 72201 ( 501) 37 5-4404 Disclaimer: The Hodges Finn is not responsible for validity of survey data provided by Apartment Managers and Owners. Table of Contents I. Introduction 1 I I. General Characteristics and Occupancy Rate 3 I I I. Rent Characteristics 50 IV. Apartment Complex Amenities 73 V. Construction Trends 98 VI. Sectorial Analysis 104 Appendices: Appendix A. Apartment Listing A-1 Appendix B. Multi-Family Housing Inventory Questionnaire B-1 List of Tables Table 1 Apartment Complexes by Number of Units, Apartment Types, Vacancies and Occupancy Rate, 1983 Table 2 Apartment Complexes by Rank and Number of Units, 25 1983, Little Rock, Arkansas Table 3 Apartment Complexes by Rank and Number of Units, 36 1983, North Little Rock, Arkansas Table 4 Apartment Complexes by Rank and Number of Units, 39 1983, Sherwood, Arkansas Table 5 Apartment Complexes by Rank and Number of Units, 40 1983, Jacksonville, Arkansas Table 6 Apartment Complexes by Rank and Number of Units, 43 1983, Maumelle, Arkansas Table 7 Apartment Complexes by Category of Size , Complexes, 45 Units and Percentage of Total, 1983, Little Rock, Arkansas Table 8 Apartment Complexes by Category of Size, Complexes, 46 Units and Percentage of Total, 1983, North Little Rock, Arkansas Table 9 Apartment Complexes by Category of Size, Complexes, 47 Units and Percentage of Total, 1983, Sherwood, Arkansas Table 10 Apartment Complexes by Category of Size, Complexes, 48 Units and Percentage of Total, 1983, Jacksonville, Arkansas Table 11 Apartment Complexes by Category of Size, Complexes, 49 Units and Percentage of Total, 1983, Maumelle, Arkansas Table 12 Apartment Complexes by Year of Construction, Rental 51 Rates and Occupancy Restrictions, 1983, Pulaski County List of Tables Table 13 Amenities by Apartment Complex, 1983 74 Pulaski County, Arkansas Table 14 Apartment Complexes by Year of Construction: 99 Complexes, Unit: Average Number of Units Per Complex, Cumulative Number of Units, 1983, Little Rock, Arkansas Table 15 Apartment Complexes by Year of Construction: 100 Complexes, Unit: Average Number of Units Per Complex, Cumulative Number of Units, 1983, North Little Rock, Arkansas Table 16 Apartment Complexes by Year of Construction: 101 Complexes, Unit: Average Number of Units Per Complex, Cumulative Number of Units, 1983, Jacksonville, Arkansas Table 17 Apartment Complexes by Year of Construction: 102 Complexes, Unit: Average Number of Units Per Complex, Cumulative Number of Units, 1983, Maumelle, Arkansas Table 18 Apartment Complexes by Year of Construction: 103 Complexes, Unit: Average Number of Units Per Complex, Cumulative Number of Units, 1983, Sherwood, Arkansas Table 19 Index - Sectorial Analysis 106 Pulaski County, Arkansas Table 20 Sectorial Distribution of Apartment Complexes and 121 Corresponding Numerical Ranking, 1983, Pulaski County, Arkansas Table 21 Sectorial Distribution of Apartment Complexes by 132 Categories of Size and Percentage, 1983 Pulaski County, Arkansas Table 22 Sectorial Distribution of Apartment by Apartment Type 133 and Percentage, 1983, Pulaski County, Arkansas Table 23 Sectorial Distribution of Apartment Units by Year of 134 Construction and Categories of Size, 1983 Pulaski County, Arkansas Table 24 Sectorial Distribution of Apartment Complexes by Year 135 of Construction and Categories of Size, 1983 Pulaski County, Arkansas I. Introduction The Pulaski County Apartment Survey was developed in response to a need for accurate statistical data on the subject demonstrated by area developers, public officials and other professionals attempting to plan for the County housing needs. The need for such a survey became apparant with the passing of the City and County Multi-Family Bond issues in 1981 and 1983. The bond issues feasibility studies demonstrated a need for addi­ tional multi-family housing in Pulaski County. Few apartments had been built in the SMA since 1973. In addition families were residing in apart­ ments over an extended period, due to high interest rates which precluded purchase of a for-sale multi or single family unit. The Apartment Survey presented herein is a culmination of 6 months effort utilizing data sources which include: A Mail Out Survey Existing Reports and Surveys Phone Interviews with area Owners, Managers and Public Officials Windshield Survey Approximately 500 survey fonns were mailed. Survey data was deli­ neated by municipality and included Little Rock, North Little Rock, Jacksonville, Maumelle and Sherwood. Of that number 234 responded to the survey or 47 per cent. No response was received from 239 apartment complexes or 48 per cent, either because the complex was converted to con­ dominium, back to private dwelling, demolished or the owner/manager neglected to return the fonn. Approximately 27 or 5 per cent of the total sample refused to participate in the survey.