Case closed.(Whispers)

It looks like a historic Little Rock apartment building will stay open.

The Eastside High School Limited Partnership recently settled its lawsuit with Bank of America, which had threatened in March to foreclose on the 41-unit building in downtown Little Rock.

The bank said in its lawsuit filed in Pulaski County Circuit Court that Eastside High School Limited Partnership missed a loan payment of nearly $9,000, which resulted in the apartment complex defaulting on its mortgage. The amount owed was $1.2 million on a 2000 loan of $2.5 million.

On July 13, the day before a hearing was to be held on the appointment of a receiver, the case settled out of court.

"Basically, we just worked out an agreement with Bank of America," said Steven Hitt, CEO of the Arc of Arkansas, which is the general manager of the Eastside lofts and also was named in the lawsuit. "I think we've got it worked out."

He said the loft apartments in the 1400 block of Scott Street had an occupancy rate of 98 percent.

Hitt said that young adults seem to like the apartments, which were once classrooms used by the Little Rock School District.

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