Scheck (Paul Sorvino), a powerful industrialist who heads up Future Tech Industries, has decided to invade the community where Arnold (Spencer Klein), Gerald (Jamil Smith) and Helga (Francesca Marie Smith) have lived all their lives. Together with a couple of unscrupulous businessmen -- one of whom is Helga’s father -- Scheck plans to buy up everything in sight, bulldoze it down and erect a mega-mall.
But as the clock ticks toward the approaching demolition, Arnold finds out that the neighborhood is actually a national landmark. If he can locate the document that declares his block a historical site, the mayor will stop Scheck cold.
Following a series of leads from a mysterious caller identified only as “Deep Voice,” and with the help of the neighborhood “spy kid” Bridget (Jennifer Jason Leigh), Arnold and his level-headed pal, Gerald, follow a trail that leads them to the City Coroner (Christopher Lloyd) and finally to the document. But just when it looks like the neighborhood will be spared, Scheck torches the only copy of the all-important document, sending Arnold’s hopes of saving the neighborhood up in smoke.
Can Arnold figure out what to do before the bulldozers knock down his world? Will his nemesis Helga actually help Arnold…even if it means revealing that she secretly loves him? Let’s just say that behind every hero there’s a whole lot of heart!