LITTLE ROCK, Ark.
— If you have the luxury of a bedroom, you’re in luck: There’s a place in Little Rock for you.
A local developer has purchased a 6,000-square-foot loft in the area that’s been dubbed the “Room for Rent.”
The developer, Mark Fenton, announced Tuesday that the loft will be converted into a private home that will feature a fireplace, a private pool and a separate living area.
The home, which will also have a kitchenette, will be available for rent starting in March.
This will be Fenton’s third project in Little Rocket, and he’s looking to bring more people into the neighborhood.
“We’re a small, vibrant neighborhood, but there’s not enough space in this community for everyone,” Fenton said.
In 2017, the Little Rock area saw a massive increase in housing prices.
The median price for a home in Little Rio Vista, a neighborhood near Little Rock, jumped over $1 million, from $1.4 million in 2016 to $2.8 million in 2017.
It’s unclear how much money Fenton and his team of investors are looking to raise for the project, but the developer said it’s expected to be complete by April.
It’s important that it be a success.””
It’s really important that we get this project off the ground.
It’s important that it be a success.”
Young said that Fenton was looking for a place that he could “provide a little more space, a little less space” for his employees.
That’s a bit of a stretch, said Little Rock attorney Michael K. Dolan.
Fenton said that he’s in the process of negotiating a lease with the Little Rio Valley Economic Development Corp., which will then put together a bid.
According to a Little Rock Times article, Little Rio County has a vacancy rate of 10 percent.
As of early December, Fenton had received a $7 million offer from the developer, which he is still evaluating.