LITTLE ROCK– The Little Rock Board of Directors today authorized $20 million to pay for renovations to River Market Hall, a major component of comprehensive efforts to re-energize and re-imagine Downtown Little Rock.
Board members authorized using future bond proceeds to pay for the project. St. Louis-based developer New + Found will contribute an additional $5 million. No additional taxpayer funds are being used for the project.
In January, the Board selected New + Found to oversee the renovation and manage River Market Hall.
“This investment breathes new life into one of Downtown’s most important spaces, and it reinforces our commitment to a safe, welcoming, and engaging River Market focused on improving quality of life for our residents and visitors,” Mayor Frank Scott, Jr. said. “In recent years, we have seen close to a billion dollars in new investment Downtown. That is the mark of a growing and thriving urban core, and we keep moving forward with a plan to continue that growth and momentum.”
New + Found expects to begin the renovation later this year, with the project slated to take at least a year. Plans call for new restaurants and entertainment spaces, marking the first renovation of River Market Hall in its 30-year history.
Mayor Scott offered appreciation to City Directors Antwan Phillips and Dean Kumpuris, the City Board, the Little Rock Advertising and Promotion Commission, and the Little Rock Convention and Visitors Bureau for leadership on the project.
The renovation aligns with the Downtown Master Plan, adopted in 2024 as the City’s first-ever blueprint for Downtown growth and development.