2 years ago
Share
If you've driven around Little Rock and neighboring communities lately, you've probably noticed construction sites all over. What does it really mean for central Arkansas? Arkansas' housing market has been more resilient than many states. For example, realtors like Rusty Armstrong, look to sales. "Generally if it's in good shape, in a good area, and it's priced right then it's selling in this market," says Armstrong.
Little Rock lists five other major retail developments around the city as a sign of growth. Mayor Mark Stodola has big plans for the city.
"We intend to make Little Rock the next great city in the South," shares Mayor Stodola. Aiding that plan, in the last year, three international companies set up their North American bases at Little Rock's port. "Real exciting stuff for us; really 21st century manufacturing opportunities," says Stodola.
While companies are moving in, many families are moving to the suburbs. According to the latest census reports, populations in cities like Cabot and Benton are growing at a faster rate than Little Rock's.
However, city officials predict many of these people will return for the new shopping, entertainment and jobs. With a multimillion dollar shopping center off of Chanel, developers say it's a clear sign of the direction the city is growing in, they say its west.
That's because of land constraints, to the North it's the Arkansas River and to East it's the Airport. Realtors like Armstrong say the real estate boom from two years ago has burst, but he feels the city's growth is falling back into its traditional pattern of slow, yet steady.
In 2007 Forbes ranked Little Rock as a good place for business, with these recent developments it seems someone got the memo.
