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.