Chenal Pointe at the Divide is a 260-unit workforce housing community located in West Little Rock, Arkansas, adjacent to The Ranch Neighborhood, one of the most affluent MSA areas of Little Rock. With an average household income of $192,000, this location is convenient to many white and grey collar jobs - Chenal Valley's growing office district, home to Bank OZK, Southwest Power Tool, Allied Wireless, ASAble Life, and St. Vincent West. Located off Cantrell Road and AR-10, residents are central to a wide assortment of businesses, restaurants, and retailers with direct access to all city areas.
Chenal Pointe at the Divide was completed 2012 and consisted of eleven 3-story residential buildings, one clubhouse, eight garage buildings on 15.22 acres of land. The community offers one-bedroom and two-bedroom floor plans ranging from 681 square feet to 1103 square feet. Community amenities include one resort-style swimming pool with tanning deck, walking and biking trails, a dog park, BBQ grills, and picnic area with a firepit, poolside summer kitchen, fitness center, game room, and outdoor theater. Interior unit amenities include some granite countertops, stainless steel appliance package, walk-in closets, patios or balcony, hardwood floors, and vaulted ceilings in select floorplans.
Balfour Beatty Communities assumed management services at closing. ApexOne Multifamily Fund III, LP, purchased Chenal Pointe at the Divide and will execute a value-add program and hold long-term to capture growth and appreciation.