City of Little Rock v. Fausett & Co.

This appeal involves the rezoning of a two acre tract of land lying in the proximate center of Carden Homes Addition and Carden Homes Extension Addition, Little Rock. This two acre tract lies within, and on the north border of, an eighteen acre tract, all of which had previously been zoned for “K” Heavy Industrial use under a City Zoning Ordinance of 1937.

Appellee, Fausett & Co., in 1946, had purchased sixteen acres (for $500 per acre) out of the eighteen acre tract, had it rezoned for residential purposes, developed it into home-sites, and had platted it as Garden Homes Extension Addition.…