Developer Counsel in Acquisition and Financing of Blass Building

Timothy W. Grooms and Jeb Joyce served as developer counsel in the acquisition and financing of the Blass Building on historic Main Street in Little Rock, Arkansas.  The project was the first redevelopment project in the State of Arkansas to utilize both New Markets Tax Credits and Historic Tax Credits as part of its financing structure.  The original seven story building that was built as the original flagship of Blass Department Stores and its adjacent three level annex building will be totally renovated for use as first class office, ground floor retail, and loft-style multifamily residential space, The Mann on Main.  The development also includes a 300 car parking garage to serve the development and the surrounding neighborhood.  The main Blass building component was built in 1906 and is listed on the National Register of Historic Places.