As one of the newest apartment developments situated along the Arkansas River, the Resort at Rockwater is bringing a new level of housing options that is helping to revitalize the North Little Rock waterfront area.
Once an underutilized property comprising more than a dozen parcels controlled by multiple owners, the development team led by Moses Tucker Partners was successful in assembling the site and transforming what was once a blighted area with several vacant structures into a new residential complex. By introducing high-end multifamily living that attracts a diverse tenant base from young professionals to retirees, the project is expected to increase foot traffic and economic activity in North Little Rock and the Argenta Arts District within the existing Rockwater Village neighborhood.
For its role as a transformative multifamily development helping to redefine riverfront living in North Little Rock, Arkansas, the Resort at Rockwater earned a 2025 CoStar Impact Award, as judged by real estate professionals familiar with the market.
About the project: The 365-unit, resort-style complex is breathing new life into a previously overlooked area. The project's collaborative development team is a joint venture between Moses Tucker Partners; Terraforma,led by Doug Meyer and David Bruning; and Jim Jackson and Lisa Ferrell, the developers behind the adjoining Rockwater Village development. The unusual collaboration involves entities that have a shared vision of further transforming the area into a vibrant, mixed-use hub.
Based on the strength of the project design and the track record of the development team, the joint venture secured a $49 million loan from Simmons Bank of Pine Bluff for the $70 million project.
The Resort at Rockwater establishes new benchmarks in multifamily living in the area. Wellness is a key focus, with such on-site features as a yoga room, spa and fitness center. The property's access to the Arkansas River Trail offers residents access to the extensive trail's options for biking, walking and running. Residents of the property also enjoy exclusive rates at and access to Rockwater Marina.
Other eco-friendly amenities not found at other apartments in the area include electric vehicle charging stations and valet trash and recycling pickup. Construction on the apartments commenced in 2023. The first phase of 180 units is expected to be completed and available for move-ins this spring. The full project consisting of 365 units is expected to be completed this summer.
What the judges said: "This is an amazing project that is worthy of recognition. In a time where more housing is needed, this is fitting that need," said Gabe Holmstrom, executive director of the Downtown Little Rock Partnership.
"This is a great new multifamily project in an area that desperately needs housing. This will help drive new development in the North Little Rock/Argenta area," added Jason Parker, director of brokerage for Cushman & Wakefield Sage Partners.
Stuart Mackey, principal and executive vice president for the Hathaway Group, said the significant investment in this development is creating opportunities for business expansion and diversifying the neighborhood.
"It answers a need for more Class A apartments," summarized Hank Kelley, CEO, partner and executive broker with Kelley Commercial Partners.
They made it happen: George Friedmann, principal and vice president of development; Laura McKinney, executive vice president, project management and development; Chris Moses, principal, president and CEO; and Chairman Jimmy Moses, all of Moses Tucker Partners.
Other parties behind the project include Terraforma LLC led by Doug Meyer and David Bruning; Jim Jackson and Lisa Ferrell, the developers behind the adjoining Rockwater Village complex; architect WDD Architects, property manager Moses Tucker Partners and construction financing provided by Simmons Bank. The project's construction team consisted of Central Construction Group as the general contractor along with Thomas Engineering and Ecological Design Group.
CoStar Market Manager Nelda Bagley contributed to this report.