Construction Begins on Senior Citizens Apartments

Construction of a $950,000, 22-unit senior citizen apartment complex in Lincoln is scheduled to begin this month.

Beckwood Manor Four Limited Partnership of Little Rock received a $550,000 mortgage from First Commercial Bank of Little Rock on April 2. The company also received a $250,000 from the Arkansas Development Finance Authority for the construction. Both loans were signed by Elizabeth Small as president of Phillips Development Corp., a general partner in Beckwood Manor.

The company bought the two acres March 30 from Martha Karnes Carlton for $28,000.

The apartment complex at 803 E. Pridemore St. has been approved by city officials in Lincoln and will be called Lincoln Terrace Apartments. Construction is scheduled for completion by the end of the year.

The company also owns Rogers Apartments at 500 N. 14th Place in Rogers. The apartments were built in 1986 and provide affordable housing for families in the area.