Woodland Heights 2?
This one involves selling the pension fund undeveloped land adjoining the Woodland Heights high-rise retirement center in west Little Rock.
You might recall Riley gave ATRS the 82-unit project to help settle a would-be $11.5 million foreclosure suit. (Or you could read more about it on Page 1 of this issue.)
Pension, fund officials are considering building a second phase of the Woodland Heights development, which Riley never managed to pull together.
The idea is that more units will widen the potential profit margin of the project, which has had a spotty profit history.
Of course, the key to fiscal success is selling those units, whether they be existing or new ones.
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|Title Annotation:||possible deal between Pat Riley Sr., Arkansas Teachers Retirement System|
|Comment:||Woodland Heights 2?(possible deal between Pat Riley Sr., Arkansas Teachers Retirement System)|
|Article Type:||Brief Article|
|Date:||Oct 22, 2001|
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