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Argenta Square opens in NLR. (Inside Business).

A 56-unit apartment complex and the renovated historic Hodge-Cook House in the downtown Argenta district of North Little Rock officially opened last week. The facilities at Seventh and Maple streets will house moderate- to middle-income families.

The $5 million project was a partnership between the Argenta Community Development Corp. of North Little Rock, the Vanadis Development Group of Little Rock as contractor and Arkansas Development Finance Authority.

Fifteen units already have been rented.

Eighty percent of the apartments will be rented at a discounted rate, geared toward those families who meet certain income guidelines, such as $29,820 for a family of four. Two-bedroom apartments, which are 809-899 SF, cost $545 a month at the affordable rate. The market-rate for a two-bedroom is $610-$665.

The Argenta Square project is the latest in the city's effort to revitalize downtown and resuscitate residential neighborhoods that once were crime infested and riddled with burned-out houses.

"It's not really revitalization; we're actually building a brand new city downtown," said North Little Rock Mayor Patrick Henry Hays.
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Title Annotation:apartment complex in North Little Rock
Comment:Argenta Square opens in NLR. (Inside Business).(apartment complex in North Little Rock)
Author:Stogner, Alicia
Publication:Arkansas Business
Geographic Code:1U7AR
Date:Dec 23, 2002
Words:173
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