Quantcast
Channel: Business News
Viewing all articles
Browse latest Browse all 3037

Project planned for downtown Fort Smith buildings

$
0
0

story by Ryan Saylor
rsaylor@thecitywire.com

The redevelopment of the West End continues to take shape with Thursday’s (April 25) announcement of Garrison Pointe West, a planned $3 million mixed use development to be completed by Griffin Properties, the same company that developed a the original Garrison Pointe.

That development included a market, cafe, gas station and liquor store at the corner of North Fifth Street and Garrison Avenue.

According to developer Rick Griffin, the project will take place in six buildings along Garrison Avenue. In a document distributed to the Central Business Improvement District, he listed the the locations included in the development.

"The (project will be a) complete historic renovation, both interior and exterior, of the six buildings located at 401, 403, 405, 407, 409 and 411 Garrison Avenue," Griffin said, adding that once complete, the buildings "will have essentially been rebuild, and their decor will be restored to the beautiful, historical flavor of downtown Fort Smith."

Being a mixed use facility, the project will include both commercial and residential space, he told the CBID.

The retail space will be broken up into five different store fronts, with 401 Garrison containing 1,300-square-feet of leasable space. The other locations, with the exception of 407 Garrison, will each be about 1,000-square-feet, according to the project's description.

While the majority of the storefronts will be used for commercial and retail purposes, 407 Garrison will actually be converted to an open-air breezeway.

"To enhance use of this space, we will construct a large pavilion at the north end of The Breezeway, which will contain a wood burning fireplace, gas grill for cooking, and a counter area with a sink," Griffin said in the prepared document. "We shall accent light The Breezeway so that it provides a unique and aesthetic nighttime appearance."

The area, which will be gated, is intended for use by Garrison Pointe West occupants and will also be available for rent as an event and entertainment area, he said.

The final piece of the development includes the addition of 12 apartments to the building. Griffin said the units would be upscale one- and two-bedroom apartments, with the first floor containing four units and the upstairs containing eight. Rents, he said, would likely be in the $800 per month range, "give or take a little."

Excluding the price of the land and buildings, Griffin said he expects the entire project to cost in the $3 million range.

Following the meeting, he said tax credits on the state and federal levels for restoration of the historic buildings made this project worth viable.

"Economically, we've got to have it for the project," he said.

With the CBID's approval of the initial building design today, Griffin said he would now take the project into an intensive design phase that could be presented to the city for a building permit.

He said from now until construction begins would likely be between three and four months, with construction lasting an additional nine months.

Fort Smith Mayor Sandy Sanders praised the development idea.

"It sounds like it would be a very good project. It's part of the revitalization of downtown and with the Garrison Pointe convenience store now providing grocery service to people in the downtown area, I think we're going to see more and more people looking to move to a loft apartment type of complex or apartments downtown," he said. "There's more and more going on downtown all the time and that's exciting to see a downtown revitalize itself."

Five Star Votes: 
Average: 5(10 votes)

Viewing all articles
Browse latest Browse all 3037

Trending Articles