HOT SPRINGS, Ark. — More than a hundred years' worth of history was destroyed in 2014 when the famous Majestic Hotel in downtown Hot Springs caught fire. Since then, the city has tried to find a new developer to help bring new life to that land— but that has proved to be harder than expected.
The city and its marketing partner, Hot Spring Metro Partnership, hope that a new sign on the property will attract more potential developers.
"We get over 3 million visitors a year to Hot Springs. And we don't want anybody to drive by the site and think maybe this is how it's supposed to look, we want something here," HSMP Chairman, Scott Dews explained.
He also explained that they almost had a new development when R.A. Wilson Enterprises planned to build an amphitheater on the land in 2021, but it didn't pan out and now the search has continued.
"A group of local business leaders got together from the Hot Springs Metro Partnership, which is the economic development arm of our chamber, and really decided that we could market this site for the city," Dews said.
HSMP started marketing the property in November of last year and put up a sign about two weeks ago to try and attract more potential developers.
"We've got about a 15-slide, marketing package that we've sent out to developers all across the country," he added.
Dews also said they haven't heard back yet, but since the sign has been up they have received one call from an interested developer.
"It was a productive conversation, who knows where it leads, but it was a call that we feel like probably would not have come in without the sign being on the property," he said.
The city hopes the momentum will keep going.
"Whether it is a resort-type development, residential living, restaurants, and shopping, the mixed-use possibilities for the Majestic site are endless. We are very excited to see what develops from our partnership with the HSMP," City Manager Bill Burrough said in a statement.
"The Hot Springs Metro Partnership, its board, and this development committee are committed to this process until it's done," Dews said.
According to the city, the historic property first hit the market in 2019.