Little Rock, Arkansas – A former hotel in downtown Little Rock is set for a new purpose after a $7.8 million real estate deal that will turn the property into student housing for Arkansas Baptist College.
617 Broadway LLC, led by Moses Tucker Partners Principal, President and CEO Chris Moses, purchased the former La Quinta Inn and Suites at 617 S. Broadway. The company also announced a long-term partnership with Arkansas Baptist College as part of the transaction.
The property is a 12-story building with 261 rooms and is located less than a mile from the college’s campus. Plans call for improvements to the building as it is converted from a hotel into housing for students.
The purchase gives Arkansas Baptist College an opportunity to expand its housing capacity without having to build an entirely new facility. According to Moses, using the existing property provides a more cost-effective option and could allow the college to focus more of its resources on its academic mission.
The transaction was led on the brokerage side by George Friedmann, principal and vice president of development at Moses Tucker Partners. The property was sold by OM Little Rock LLC.
For the college, the project addresses an immediate need for additional student housing. The size and location of the former hotel provide a substantial amount of space that can be adapted for a different use, while its proximity to campus gives students access to housing close to the college.
Moses said the project has significance beyond the college itself, describing it as an investment in downtown Little Rock and the Broadway corridor.
“This acquisition is an investment not only in Arkansas Baptist College and its students, but also in the continued momentum of downtown Little Rock,” Moses said. “By giving an existing downtown property a new purpose, we are helping the College meet an immediate need for student housing while bringing new activity and investment to the Broadway corridor.”
The redevelopment will also put an existing downtown property back into active use. Rather than constructing a new student housing complex elsewhere, the partnership will adapt a building that already stands along Broadway.
The former La Quinta property has 261 rooms spread across 12 stories, making it a significant addition to the college’s housing options once improvements are completed. The planned changes are intended to align the property with its new role as student housing.
Arkansas Baptist College Board Chair Roland Gosey also described the acquisition as an important step for the institution.
“This acquisition is an investment not only in Arkansas Baptist College and its students, but also in the continued momentum of downtown Little Rock,” Gosey said. “By giving an existing downtown property a new purpose, we are helping the College meet an immediate need for student housing while bringing new activity and investment to the Broadway corridor.”
The partnership comes as the college looks to increase the amount of housing available to its students. By using an existing hotel, the institution can pursue that goal while avoiding some of the costs and time associated with developing a completely new building.
The location is another important part of the project. The property at 617 S. Broadway is less than a mile from the Arkansas Baptist College campus, placing the future student housing within close range of the school.
For downtown Little Rock, the deal also represents a new chapter for a property that previously served travelers staying at the hotel. Its conversion into student housing will bring a different group of users to the area and could create additional activity along the Broadway corridor.
Moses Tucker Partners said the purchase and partnership will support both the college’s immediate housing needs and broader investment in downtown Little Rock. The project combines an existing property with a new institutional purpose, allowing the building to remain part of the downtown landscape while serving students.
As improvements move forward, the former hotel is expected to transition from a lodging facility into a housing resource for Arkansas Baptist College. The $7.8 million purchase marks the beginning of that change and provides the college with a sizable property close to campus.
The transaction ultimately connects two goals — expanding student housing at Arkansas Baptist College and giving a downtown Little Rock property a new use. For college officials and the development team, the project is being positioned as an investment in students as well as in the continued activity and growth of the surrounding downtown area.
