Changes made with planned ‘Dream’ hotel in Pinnacle Hills
Rendering of planned Dream Hotel in Pinnacle Hills in Rogers
The planned upscale 16-story hotel to be located in the Pinnacle Hills area of Rogers is still on track but will not have the associated entertainment venue. Parking became a problem for entertainment part of the deal, according to the developer.
The project cost has dropped from “north of $150 million” to “a little over $100 million,” according to Lance Beaty, CEO of Beaty Capital Group.
Beaty announced the 207-room hotel project earlier this year. It will be located on the 1.57-acre property at 3529 S. Pinnacle Hills Parkway. The site is now home to Ruth’s Chris Steak House, which is set to move into a new location in the first quarter of 2025. The entertainment venue was a planned 2,200-seat facility.
“We’ve pivoted because we couldn’t reach parking agreements, so it’s now just a pure-play hotel development,” Beaty said. “We just didn’t want to be in a position where we were beholden to anyone else with parking for the entertainment venue.”
Beaty said the new development plan conforms to development codes and has been filed with the city of Rogers. Beaty partnered with New York City-based Dream Hotel Group on the project, which also includes meeting space and a restaurant and bar on the top floors. Dream Hotel Group is known for operating luxury, upscale hotel properties in Hollywood, Calif.; Nashville, Tenn.; New York and Miami.
He said construction will likely begin in the early second quarter of 2025, with the work expected to take at least 16 months to complete.
Beaty said the Dream luxury brand has not been tried in smaller markets like Northwest Arkansas, but he is convinced Pinnacle Hills is “the perfect hub” for the metro area. And the socio-economic demographic realities will be there.
He said the hotel will be a good fit with other planned developments in the area, including an 80,498-square-foot mixed-use center called Pinnacle Springs. The 12-acre site is at the northwest corner of New Hope Road and South Promenade Boulevard. Whole Foods Market is the anchor tenant for the development planned by Georgia-based developer SJC Ventures.
“We’re slightly ahead of the market for this quality of space, but we’re exactly where we want to be in this market,” Beaty said.
Daniel Ellis with Crafton Tull engineering firm in Rogers is working on the hotel site plan. Studio 6 Architects in Fort Smith is also working on the project.