ERC and North Little Rock community leaders made it official on Monday.
As Mayor Joe Smith, Pulaski County Judge Barry Hyde and North Little Rock Chamber of Commerce CEO John Owens joined ERC CEO Rob Coleman on a sunny Monday morning to have a ceremonial groundbreaking for the construction company’s latest development — THRIVE. Something Coleman had previously described as an “urban lifestyle brand.”
With trendy sunglasses and potted lavender as favors for those who made it on Monday, THRIVE certainly has the look of something hip.
The development, estimated at around $15 million to build, will feature six brick multi-story buildings, will have 164 units and the buildings’ first floors will be parking garages, along with limited retail space.
The construction is addressed as 501 N. Magnolia St., that once housed a feed mill that was torn down in fall 2008. The new buildings will take up approximately half of the space that is available with working ongoing to make the rest of the property suitable for development.
Then, developer John Gaudin said that the property was destined for great things. Nearly 10 years later, and after much effort, that appears to be coming true. Gaudin was also there on Monday as well.
The THRIVE development will take a little more than a year to complete, Coleman said. and added his company was looking at other open properties in North Little Rock for further development.
Among those noted was the former brownfields property at the base of the new Broadway Bridge.
ERC is a third-generation family-owned company with roots in Fort Smith, but also has offices in Rogers.
Rod Coleman, Rob’s father, was among those on hand for the groundbreaking as well.
ERC has two similar properties in Bentonville and Cottleville, Mo., a suburb of St. Louis.
Once complete the development will feature six brick buildings that will have 164 units that will be available.
Rob Coleman said the attraction of North Little Rock was that the city had a plan for development.
“A lot of cities, they have them done, and all they up doing is putting them on a shelf, then you never see it again,” the younger Coleman said. “That wasn’t true here.”
Smith, in brief remarks, praised former Chief of Police and now Chief of Staff Danny Bradley for his efforts on getting the project to fruition.
“He helped make it happen,” Coleman said of Bradley.