HomeMy WebLinkAboutLetter from Developer 091924E & Y Development LLC
224 Valmar Street Little Rock AR 72205 (501) 366-5115
Dear Commission,
RE: 1516 S. Ringo Street
We respect the forum that the commission brings to the community: both builders and neighbors. It is a
venue to ensure builders and communities work together. We are glad that neighbors for the area around
the proposed project on Ringo and the Dunbar area have come forward to voice their opinions. We aim to
ensure those issues are addressed.
1. First Issue: Crowding/Street Parking: The homes provide 3 off-street parking spaces
2. Second Issue: The design: The design was selected to be commiserate to the area; they are single
family modern craftsman homes. These are not duplexes, nor apartments. They are single family
workforce homes with a design which integrates into the community.
3. Third Issue: With respect to size: The detached single-family homes are 3-bedroom, 3 bathroom
and have a heating/cooled space of 1400 A
We are looking for approval to provide these homes to the Dunbar area. Reason to consider approval.
1. The homes are within the city ordinance for the fire department having 5-foot setback from the
edge of each property line, and 10 ft between homes and are 25 ft from the street.
2. The homes are in keeping with the aesthetic of the Dunbar area.
3. The homes boost ample off the street parking to mitigate crowding.
4. Similar 15 ft wide homes are being built less than % mile away on 15th Street and Bishop.
5. The homes are 1400 sf and will be—S250,000. This offers affordable workforce housing for the
area which has may employers within a mile radius: ACH, Baptist College, Philander College,
Downtown businesses, and the Capital.
6. Recently,
a. Kevin Howard, Director of Housing and Neighborhood Programs stated June 2024, "The
city of Little Rock has a shortage of homes, affordable housing units around the city, the
American Community Survey stated about 25,000 units that we're missing here in the
city of Little Rock and around 55,000 in the state of Arkansas,".'
b. The Freddie Mac report, May 2024 warns that the 1.5 million estimated shortfall of homes
nationwide is almost certainly a dramatic underestimate of the total housing shortage".2
c. New homes under 300K are scare in the region according to Zillow. E & Y has 6 homes
built and or sold in Dunbar area. Three have been sold (-1500 sf) avg price of $256,000
($178 per sf). Three others, (1200 to 1300 sf) are in various stages of construction. They
are listed: avg price of $227,000 ($172 per sf).
The city staff has seen this project in positive light and feels it meets the needs for the city housing
and the ordinance criteria.
References
1. https.11kgtv.com news local little-rock-cuts-the-ribbon-on-new-homes-morks- ro ress-in-a ordoble-
housin -and-nei hborhood- rq rams-100-home-initiative-sales-tax-real-estate-arkonsas-north-little-
rock-
2. https://www.realtor.com/news/real-estate-news/usa-needs-1-5m-more-homes-to-ease-crisis-housing-
shortage freddie-mac/