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Investors still betting on NWA; $110M mixed-use project begins in Rogers’ Pinnacle Hills

Despite perceived economic headwinds nationally, real estate investors still have their eyes fixed on Northwest Arkansas.

On Thursday (Sept. 7), Indiana real estate development and private equity firm Great Lakes Capital shared details of a $110 million mixed-use project in Rogers’ dynamic Pinnacle Hills area west of Interstate 49. The 8.2-acre development is called The Plaza at Pinnacle Hills.

Construction has started at the northwest corner of West Northgate Road and South Champions Drive to build a 304-unit luxury apartment complex with immediately adjacent retail space anchored by a two-story, 20,000-square-foot Ruth’s Chris Steak House at the intersection’s hard corner.

Great Lakes Capital is a Ruth’s Chris developer. The upscale restaurant opened a Rogers location in 2007 at 3529 Pinnacle Hills Parkway. After construction, the restaurant will close that location and relocate to The Plaza at Pinnacle Hills. That’s expected in late 2024. Developers should complete the entire project in 2025.

The developers said the restaurant’s new space will be three times the size of the current location and include several bars, a rooftop, private event space and seating for up to 500 guests.

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24 Marble Street
400,000 sf speculative building
Aerial View

The development will have more than 300 luxury apartments and its retail component will be anchored by a Ruth’s Chris Steak House that will relocate from its current location on Pinnacle Hills Parkway, a few blocks away from the Plaza’s site.

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Martin Huttenlocker Headshot

Martin Huttenlocker

Development Manager

Leveraging 17 years of relationships and extensive background in the commercial real estate industry, Martin provides direct strategic and analytical support as part of the Great Lakes Capital development team. Since joining the firm in 2017 he has performed a hybrid role in asset management and brokerage services within the GLC portfolio. Martin earned a BA in Political Science from the University of Missouri/Columbia and an MBA from Roosevelt University in Chicago.