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M.D. manors.

Physicians and Mortgages of $21.78 Million Abound at Chenal Valley's Premier Address

FOR THOSE WHO MISSED it, west Little Rock's Chenal Circle has joined the roster of elite addresses, where names like Edgehill, Palisades and Hickory Hills top the chart.

To date, lot buys and home construction loans have generated 75 mortgages totaling more than $21.78 million. This dollar value doesn't include the cash invested by well-endowed homeowners.

The Chenal Circle land grab began officially in November 1989 with a gala opening at the Holiday Inn West Holidome attended by 200-300 Realtors.

Dozens of 3,000-plus-SF homes have sprung up in the interim, with ownerships dominated by well-heeled doctors.

A more fitting name for Chenal Circle would be M.D. Manors or Doctor's Drive. It also serves as a reference to the surrounding golf course that attracted all the physicians in the first place.

Original design plans included an entryway guard tower that would be functional rather than decorative. A controlled-access gate could convert the 61-lot subdivision into a secured neighborhood.

Once all home construction is completed along Chenal Circle, will it become a walled enclave a la Hickory Hills?

"We've left that up to the individual property owners to decide," says Jack McCray, general manager of Chenal Properties, a subsidiary of Deltic Farm and Timber Co.

As building activity winds down on Chenal Circle, other estate-size lots adjoining the golf course will be cropping up soon.

A new 39-lot subdivision, Bretheny (pronounced Bratawn-yea) Court, is scheduled to come on line by early fall. Like Chenal Circle, its lots will average about 0.75 acre, with a minimum square footage requirement of 3,000-SF for single-family homes.

Like every other name in the Chenal Valley development, this new subdivision has a French ring to it. However, the dominant geographic feature of the area -- Shinall Mountain -- remains firm amid the growing tide of Old World nuances.

Bretheny Court will be situated directly south of Chenal Circle across Chenal Valley Drive. Lots will have frontage on the fifth and 14th holes.

This new entry won't likely supplant Chenal Circle as the premier address in the west, west Little Rock market.

After all, Chenal Circle was the first and bigger of the two, and it is encompassed by the eighth, ninth, 16th, 17th and 18th holes.

When it came to teeing up more loan money, no one topped First Commercial's swing. The Little Rock bank and its mortgage company combined for 18 loans totaling more than $5.2 million to Chenal Circle buyers.

Trailing that performance was Twin City Bank, 11 loans totaling $4.32 million; Central Bank & Trust, four loans totaling $2.15 million; Union National Bank, 10 loans totaling $1.98 million; Pulaski Bank & Trust, 10 loans totaling $1.72 million; and Metropolitan National Bank, four loans totaling $1.51 million.

But enough about millions of dollars of debt.

Without further ado, here is more on the individual buyers, builders and lenders who have helped make Chenal Circle a premier property. The original price of each lot is listed first.

Block 1 Chenal Valley

Lot 1 -- Price: $80,000. Owners: Little Rock lawyer John Kitterman and his wife, Marsha.

Their April 1990 purchase was backed by a $65,000 loan from First National Bank of Poinsett County. The Kittermans developed their home with the aid of a $250,000 loan from Union National Bank of Little Rock.

Lot 2 -- Price: $94,000.

Owners: Dr. Harold Betton, a Little Rock family practitioner, and his wife, Angela.

Their April 1990 purchase was financed with a $75,600 loan from Union National Bank. Their 8,417-SF home was built with a $1 million loan from Metropolitan National Bank of Little Rock.

Lot 3 -- Price: $94,000.

Owner: RPR Inc., led by R.B. Ferguson.

William L. Rutledge, a Little Rock general surgeon and laser surgeon, sold the lot to RPR for $135,000.

Lot 4 -- Price: $99,000.

Owners: J. Dan Baker, chairman of Baker Rent A Car, and his wife, Carole.

The Bakers bought the 3,560-SF home in March 1991 for $438,000 with the aid of a $350,400 loan from First Commercial Mortgage.

Bobby Loux Construction Co. bought the lot in May 1990 and developed a house with a $316,800 loan from Pulaski Bank & Trust of Little Rock.

Lot 5 -- Price: $95,000.

Owners: Ralph Joseph II, a family practitioner, and his wife, Julia.

The Josephs developed their home through a $365,000 loan from Twin City Bank of North Little Rock.

Lot 6 -- Price: $95,000.

Owners: Kenneth and Lana McIntyre.

The McIntyres bought the 5,569-SF home in March 1991 for $520,000. First Commercial Mortgage financed $416,000.

The lot was originally bought and developed by Thomas and Louise Ferris and James and Patricia Ferris with a $336,000 loan from Leader Federal Mortgage Co. of Memphis, Tenn.

Lot 7 -- Price: $95,000.

Owners: Al Aquino, an anesthesiologist, and his wife, Laura.

The Aquinos bought the 5,308-SF home for $433,000 in August 1990. The purchase was financed with a $325,000 loan from First Commercial Mortgage Co.

Joseph L. Stillman Construction Co. developed the house through a $346,000 loan from Pulaski Bank & Trust.

Lot 8 -- Price: $77,000.

Owner: Phase III Inc.

Phase III bought the lot for a reported $140,000 from Joseph Sheppard, a Little Rock orthopedic surgeon, and his wife, Mary. Phase III is developing a home with a $450,000 loan from Twin City Bank.

Lot 9 -- Price: $100,000.

Owners: Gary Wilson, president of McDonald's of Little Rock, and his wife, Billie.

The Wilsons bought the 7,332-SF home from Phase III Inc. for $675,000. Sears Mortgage Corp. financed $506,250.

Phase III bought the lot for $115,000 from Patrick Osam, a Little Rock general surgeon, and his wife, Teresa. Phase III developed the house with a $350,000 loan from Twin City Bank.

Lot 10 -- Price: $103,000.

Owners: Sam Alley, president of Vratsinas Construction Co., and his wife, Janet.

The Alleys bought the lot for $115,000 from Wayne Eldred, vice president of Allis Cooper Co. Food Brokers, and his wife, Sandra.

The 6,189-SF home was financed with a $550,000 loan from Sears Mortgage Corp.

Lot 11 -- Price: $103,000.

Owners: G. Stephen Greer, a Little Rock electrophysiologist and clinical cardiologist and his wife, Pamela.

The Greers financed their lot buy with a $90,000 loan from Union National Bank.

Lot 12 -- Price: $107,000.

Owners: Dr. Patrick Osam and his wife, Teresa.

The Osams bought the lot from GPG Inc. for $135,000. They are financing a new home with a $640,000 loan from Worthen National Bank of Arkansas.

Lot 13 -- Price: $110,000.

Owners: James Brown Sr., president of Environmental Services Co. Inc. in Little Rock, and his wife, Joyce.

The Browns financed their lot purchase with a $109,500 loan from Metropolitan National Bank.

Lot 14 -- Price: $117,000.

Owners: Jock Cobb, a Sherwood family practitioner, and his wife, Jo.

The Cobbs bought their lot from Charles and Anita Middleton for $135,000.

Lot 15 -- Price: $107,000.

Owners: James and Linda Schmidt.

The Schmidts financed their 3,805-SF home with a $242,000 loan from First Commercial Bank.

Lot 16 -- Price: $117,000.

Owners: Richard Nix, a Little Rock orthopedic surgeon, and his wife, Janna.

The Nixes financed their lot with a $104,850 loan from Twin City Bank for $104,850.

Lot 17 -- Price: $125,000.

Owners: Michael Moore, a Little Rock orthopedic surgeon, and his wife, Sharon.

The Moores financed their 5,296-SF home with a $606,139 loan from First Commercial Bank.

Lot 18 -- Price: $175,000.

Owners: Steven Cathey, a North Little Rock neurosurgeon, and his wife, Janet, a North Little Rock obstetrician and gynecologist.

The Catheys are financing their home with two loans with Central Bank & Trust of Little Rock totaling $1 million.

Lot 19 -- Price: $160,000.

Owners: Rev. Christoph Keller III, pastor of St. Margaret's Episcopal Church, and his wife, Julie.

The property was purchased for Keller through Little Rock lawyer B. Frank Mackey Jr.

Lot 20 -- Price: $140,000.

Owners: Wilbur Giles, a Little Rock neurological surgeon, and his wife, Patsy.

The Gileses financed their 4,664-SF home with a $625,000 loan from Union National Bank.

Lot 21 -- Price: $130,000.

Owners: Douglas Smart, a Little Rock gastroenterologist, and his wife, Dianne.

The Smarts bought their 5,110-SF home from Joe Hughes Construction Co. for $560,000. The project was financed with a $447,280 loan.

Lot 22 -- Price: $130,000.

Owners: James Tice, president of Tice Automotive Air Conditioning Wholesale Parts Co. in Little Rock, and his wife, Margarette.

Lot 23 -- Price: $130,000.

Owners: Mark Gibbs, a Little Rock general surgeon, and his wife, Karla.

The home was financed with a $693,750 loan from Union National Bank.

Lot 24 -- Price: $130,000.

Owners: Joe Hargrove, a Little Rock cardiologist, and his wife, Frances.

Lot 25 -- Price: $125,000.

Owners: Alexander Davie and his wife, Melanie, a Little Rock anesthesiologist.

The Davies financed their 5,230-SF home with a $400,000 loan from First Exchange Bank of Little Rock.

Lot 26 -- Price: $120,000.

Owners: C. William Ball, a Little Rock family practitioner, and his wife, Jan.

The Balls bought their 6,232-SF home for $706,000 from Ed Eudy Construction Co. The buy was backed by a $528,950 loan.

The home was built through a $500,000 loan from Twin City Bank.

Lot 27 -- Price: $103,000.

Owners: Reed Kilgore, a North Little Rock orthopedic surgeon, and his wife, Cindy.

The Kilgores are developing their home with a $600,000 loan from First Commercial Bank.

Lot 28 -- Price: $87,454.

Owners: Max Davis, president of Davis Moving and Storage Inc., and his wife, Carolyn.

The Davises financed their lot, which contains their 4,248-SF home, with a $78,750 loan from First Commercial Bank.

Lot 29 -- Price: $83,454.

Owners: Timothy Daters of White-Daters & Associates Inc. and his wife, Rebecca.

Their 4,535-SF home is financed through a $279,200 loan from Sears Mortgage Corp.

Lot 30 -- Price: $83,000.

Owner: Pickering Inc.

The purchase was secured by a $74,250 mortgage from Pulaski Bank & Trust.

Lot 31 -- Price: $83,000.

Owners: Stephen Allen Carns and his wife, Nancy.

The Carnses bought the 5,017-SF home for $499,000. RPR Inc. bought the lot for $96,180 and borrowed $388,000 from Central Bank & Trust to develop the property.

The original lot owner was Joe White of White-Daters & Associates Inc. and his wife, Jeanette.

Lot 32 -- Price: $88,454.

Owners: Robert Murphy, a North Little Rock gastroenterologist, and his wife, Debra.

A $200,000 loan from First Commercial Bank is backing the construction.

Lot 33 -- Price: $90,000.

Owners: Michael Holland, a computer consultant, and his wife, Cynthia.

The Hollands financed their lot buy with an $80,550 loan from Union National Bank.

Lot 34 -- Price: $88,000.

Owners: Paul and Elizabeth Weaver.

The Weavers bought the 6,557-SF home for $590,000 from John M. and Linda S. Gunn. Dalton Hill Construction Co. developed the property with a $410,000 loan from Central Bank & Trust.

Block 2 Chenal Valley

Lot 1 -- Price: $80,000.

Owner: Henry Mariani, president of Nite Lite Co.

Lot 2 -- Price: $68,000.

Owners: James and Charlotte Vellane.

The Vellanes purchased the 3,518-SF home for $315,000. It was developed by Joseph Stillman Construction Co., which financed the project with a $254,400 loan.

Lot 3 -- Price: $67,900.

Owners: Guido and Liliane Tricot.

The Tricots bought the 5,398-SF home for $498,000. The sellers were Terry Masching, a representative of Vlic Annuities, and his wife, Rebecca.

The Maschings developed the lot through a $360,000 loan from Central Bank & Trust.

Lot 4 -- Price: $68,000.

Owners: Robert Acord, president of Henry Enterprises Inc., and his wife, Helen.

The Acords built a 3,000-SF home on the site.

Lot 5 -- Price: $70,000.

Owner: Wayne Moore Construction Co.

David and Kimbra Killett bought the lot and financed it with a $73,000 loan from Pulaski Bank & Trust.

Lot 6 -- Price: $70,000.

Owners: R. Lewis Crow, a Little Rock heart and chest surgeon, and his wife, Anne.

The Crows bought the 5,652-SF home for $475,000. The seller was Gary and Billie Wilson, who bought the home from Phase III Inc. for $450,000. Construction financing totaled $275,000 from Twin City Bank.

Lot 7 -- Price: $70,000.

Owners: Kevin McReynolds, outfielder with the Kansas City Royals, and his wife, Jackie.

The McReynoldses bought the 4,319-SF home for $380,000 from Rick and Susan Ferguson, who bought the lot for $74,000. The original lot owners were William Childers, vice president of Motel Sleepers Inc., and his wife, Kathleen.

Lot 8 -- Price: $70,000.

Owners: Randall and Elizabeth Elrod.

The Elrods financed their 4,981-SF home with a $255,375 loan from Pulaski Bank & Trust.

Lot 9 -- Price: $73,000.

Owner: American Abstract and Title Co.

Phillip H. Johnson, a Little Rock orthopedic surgeon, and his wife, Robin, reportedly sold the property to American Abstract and Title Co. for $95,000.

Lot 10 -- Price: $68,454.

Owners: J. Douglas Holloway, a Little Rock nuclear and clinical cardiologist, and his wife, Victoria.

The Holloways bought the lot for $84,000 from Kevin Hughes Construction Co.

Lot 11 -- Price: $77,000.

Owner: Joe Hughes Construction Co.

The home builder bought the lot for $88,000 from Robert Cress, sales manager for J.A. Riggs Tractor Co., and his wife, Julie.

Lot 12 -- Price: $77,000.

Owners: S. Mark Brockinton, president of the insurance firm S. Mark Brockinton & Associates, and his wife, Kimberly.

The Brockintons financed their home with a $700,000 loan from Twin City Bank.

Lot 13 -- Price: $90,000.

Owner: Michael Allwine, president of Budget Rent-A-Car.

Allwine bought the lot for $93,000 from Barre Finan, a Little Rock urologist and his wife, Laura.

Allwine developed the 5,264-SF home with a $250,000 loan from First Commercial Bank.

Lot 14 -- Price: $90,000.

Owner: William Morton, a Little Rock gastroenterologist.

Lot 15 -- Price: $77,000.

Owner: Melissa Yarnell Rentch.

Rentch bought the 4,784-SF home for $500,800 and financed $350,000 through Benton State Bank. The sellers were Joe and Laveda Hughes, who developed the house with a $380,000 loan.

Lot 16 -- Price: $78,545.

Owners: John Heritage, a sales rep with Stephens Inc., and his wife, Deborah.

The Heritages financed their residential project with a $325,000 loan from Metropolitan National Bank.

Lot 17 -- Price: $77,000.

Owners: Jerry Griffith, vice president of J. A. Riggs Tractor Co., and his wife, Nell.

The Griffiths financed the 5,824-SF home with a $275,000 loan from Pulaski Bank & Trust.

Lot 18 -- Price: $77,000.

Owners: G. Frank Herring, a Little Rock pathologist, and his wife, Barbara.

The Herrings are financing their residential project with a $300,000 loan from First Commercial Bank.

Lot 19 -- Price: $70,000.

Owners: Phillip Duncan, a Little Rock lawyer, and his wife, Cheryl.

The Duncans financed their lot buy with a $50,000 loan from First Commercial.

Lot 20 -- Price: $75,000.

Owner: Wayne Moore Construction.

This project is financed with a $376,000 loan from First Commercial Bank.

Lot 21 -- Price: $67,772.

Owners: Steve and Diana Duncan.

The Duncans financed their 4,532-SF home with a $179,000 loan from First Commercial Bank.

Lots 22 & 23 -- Price: $131,000.

Owners: James Davis, a Little Rock cardiologist, and his wife, Carla.

The Davises financed their home with a $625,000 loan from First Commercial Bank.

Lot 24 -- Price: $63,000.

Owners: Curtis Lowery Jr., a doctor with UAMS Medical Center, and his wife, Ellen.

The Lowerys financed their 3,746-SF home with a $272,500 loan from Union National Bank.

Lot 25 -- Price: $63,000.

Owners: Allen McKnight, a Little Rock obstetrician and gynecologist, and his wife, Mary Jane.

The McKnights financed their 5,290-SF home with a $360,000 loan from Union National Bank.

Lot 26 -- Price: $63,000.

Owner: Charles E. Duckworth.

Duckworth bought the 5,757-SF home for $476,000, financing $380,560 through Norwest Mortgage Inc.

Thomas and Louise Ferris bought the lot and developed the house through a $340,000 loan from First Commercial Bank.

Lot 27 -- Price: $80,000.

Owner: Henry Mariani, president of Nite Lite Co.
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Article Details
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Title Annotation:upscale Chenal Circle residential community in Little Rock, Arkansas
Author:Waldon, George
Publication:Arkansas Business
Date:Jun 7, 1993
Words:2749
Previous Article:'Preferred' method of payment.
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