St. Anthony Senior Apartments

202 Green Street, Morrilton, AR 72110
Status: Available
Year Built: 1930'S
Price: UNPRICED
# of Units: 30
# of Buildings: 120
# of Stories: 4
Rentable SF: 22,500
Lot Size: 2.31 Acres
Density: 12.98 Units/Acre

Quick Stats:

  • Morrilton is Located 52 Miles Northwest of Little Rock, AR
  • Senior LIHTC Property with 20% of the Units Being Market Rate
  • Home to the University of Arkansas Community College at Morrilton
  • AMI Growth for the County was 3.82% From 2017 to 2018

Description:

The old St. Anthony’s Hospital in Morrilton built in the early 1930’s had been vacant since the early 1970’s before a development plan was created to utilize historic and senior housing tax credits to fund the adaptive reuse of the structure. Twenty- three apartments were created within the existing hospital and seven new units were built on the site. Each living unit features modern, full-service amenities as well as dramatic Arkansas River Valley views, generous common areas and easy access. This project received an award from the Historic Preservation Alliance of Arkansas for excellence in rehabilitating an existing structure. St. Anthony’s Senior Living is conveniently located with easy access to Interstate 40 & Highway 64 and within minutes of restaurants, healthcare, shopping, and The University of Arkansas Community College at Morrilton.

The property was rehabbed and placed in service in 2004 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place with Arkansas Development Finance Authority, which requires 24 units to be rented to income qualifying tenants earning no more than 30%, 50%, and 60% of the Area Median Income. The remaining units are unrestricted. The property is still within its initial 15-year tax credit compliance period.

Morrilton is nestled in the heart of the Arkansas River Valley, The city has a population of 6,799 and is conveniently located between Conway and Russellville, AR along I-40. Forty-five minutes from Little Rock, Morrilton residents embrace a rural lifestyle while having the convenience of nearby cities. As the county seat of Conway County, Morrilton is a residential, agricultural, and scenic focal point in the county. Located minutes from Petit Jean Mountain, home of Arkansas’s flagship state park, residents are able to enjoy the beautiful outdoors year round. Morrilton is also home to the University of Arkansas Community College at Morrilton (UACCM) and to a variety of employment opportunities in public, private, and secondary education, manufacturing, and health care.

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