NORTH LITTLE ROCK, Arkansas — The City of North Little Rock has built up momentum for economic growth and is currently working to attract new businesses as the area expands— but one recent announcement left city officials perplexed.
According to their website, Altis Capital plans to build what they call the "Diamond Valley Development" in North Little Rock.
However, city officials said that they found out about the upcoming multi-million dollar project for the first time online.
"That's the best way I can say it. We saw it when y'all saw it. No one asked us. No one talked to us. That announcement was made," said Colleen Carr Bailey, an employee for the City of North Little Rock's economic development.
The new development will feature several commercial properties, like a golf and culinary entertainment venue, a trampoline park, an arcade, a hotel and spa with a plunge balcony swimming pool, and a speakeasy-style restaurant and bar.
The grand total came to $346 million dollars and added more than 6,000 jobs.
The only problem is that the City of North Little Rock has heard nothing about the plans from the development group.
Bailey said that for a project like this there are a lot of steps that must be taken before it can begin— none of which have started.
"They would have to acquire the land, and then after they acquire the land, we would have to see what their use is and decide if that use is already zoned or it would have to be rezoned and permitted," explained Bailey.
But something like this could be a big attraction for the city, and with developers already working on other venues, like the Malys Entertainment Center at the old Wild River Country location, the city said that they would like to welcome the new properties.
"Development in North Little Rock would be fantastic. I mean, it's a great idea. We would support it 100%, but like I said we read it when y'all read it," said Bailey.
We reached out to Altis Capital and we are still working to get in touch with them.
Our partners at Arkansas Business reported in 2019 that the same owner of Altis Capital was raising $30 million dollars for a similar entertainment project in Hot Springs— however, the project was never finished.