HomeMy WebLinkAboutRestrictive Covenant AgreementlAllied Drive, Suite 1500 Direct: 501 372 6161
Little Rock, AR
72202
12-1-2022
City of Little Rock Planning & Development Department
723 W. Markham
Little Rock, AR 72201
THE MIDDLE — Covenants and Restrictions
Director Collins and Staff,
Colliers Arkansas is developing THE MIDDLE mixed use development located on 10 acres at the
intersection of Rodney Parham and Highway 10. Throughout the past month, our team has worked
diligently to meet with adjacent neighborhoods and address their questions and concerns.
Our team came to an agreement with The Pleasant Valley POA with the following terms. In
exchange for the PV POA vote of support for the Middle, we Colliers Arkansas (developer) agreed to
the following.
Upon closing on the land, developer will file restrictive covenants on the entire 10+ acres that reflect
the following:
1. USE RESTRICTIONS
These C-3 uses will be prohibited in the Middle development project:
Auto glass or muffler shop.
Auto parts and accessories.
Auto parts, sales with limited motor vehicle parts installation.
Auto rental or leasing (no service, sales or repair).
Auto repair garage.
Building material sales (open).
Car wash.
Cigar, tobacco and candy
store.
College fraternity or sorority.
College, university or
seminary.
Convenience food store with gas pumps.
Crematorium.
Glass or glazer. Installation, repair and sales.
Home center.
Laundromat or pickup station.
Lawn and garden center, open display.
Lumberyard.
Medical marijuana cultivation facility.
Medical marijuana dispensary.
Accelerating success.
1140 Bay Street, Suite 4000 Direct: +1 416 324 4379
Toronto, ON
M5S 2B4
Mini -warehouse.
Multi -Family Apartments
Pawnshop.
Recycling facility, automated.
Seasonal and temporary sales, outside.
Secondhand store (used furniture or rummage
shop).
Service station with limited motor vehicle repair.
Service station.
Small engine repair.
Tool and equipment rental (inside display only).
Tool and equipment rental (with outside display).
Truck or trailer rental or leasing (no service, sales or repair).
Upholstery shop, auto.
Upholstery shop, furniture.
2. Signage
In lieu of large maximum allowable "pylon" signage at each lot, developer agrees to build one large
development sign that would have multiple tenant panels (see examples below) and then restrict
each lot in the development to a ground mounted sign.
Multi -tenant sign examples: Final design would match architectural styling of the mixed use
development. These are just examples. Also, we are not working with any tenants listed on sign
below.
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1140 Bay Street, Suite 4000 Direct: +1 416 324 4379
Toronto, ON
M5S 2B4
In addition to the restrictive covenants addressed above, developer agrees to the following in
regards to cross access.
Before any building permit is issued to THE MIDDLE and any associated lots within the development,
developer will have a recorded cross access agreement between Anderson Drive/Kent Drive to
Systematics Drive. This agreement ensures that patrons of THE MIDDLE will have access to the
existing traffic signal at Systematics and Rodney Parham. Developer has an agreement with the
future owner of the FIS Campus. The cross access agreement cannot be filed until the new owner
takes possession of the campus (real estate closing for the future FIS campus owner is scheduled to
take place by December 31, 2022. Our firm represents the future buyer).
Our team at Colliers Arkansas really appreciates the collaborative discussions between city staff and
neighborhood POAs especially Pleasant Valley. We look forward to delivering a first class project that
will be an amenity to neighbors across our great city.
Sincerely,
___' 0Bradford G ines
Director of New Developments I Arkansas
Development Division
Brad_fo_rd_. Gai nes@)Coll iers. cony
Office — 501-372-6161
Accelerating success.