Combs, Johnson Reach for The Peaks in Rogers

The answer to why Benton County is enjoying a commercial boom may be due to the highest of powers in the business world.

“My ex-father-in-law [poultry mogul Don Tyson] told me once, ‘God is alive and well, and he lives in Bentonville,'” said Gary Combs, one of many developers taking advantage of the magnetic effect of Wal-Mart Stores Inc.’s Bentonville home office.

Combs, an original developer of much of the Pinnacle Hills development, is now embarking on an even more remarkable project on Interstate 540 in south Rogers.

Combs and partner Neil Johnson are planning The Peaks, a 158-acre mixture of upscale commercial and residential lots bordering the east side of Interstate 540 just north of the A.G. Russell Knives facility.

“This is a product a lot of people have tried to market in Northwest Arkansas,” Combs said. “People have approached me before wanting to build this type of project. I’ve always thought Rogers would be the new economic capital not only for Northwest Arkansas but for the state.”

The Peaks will include 39 acres of commercial interstate frontage, including one area where a local bank has already made plans to build. Combs said he’s had serious discussions with a “major” health club and at least two upscale restaurants.

“I would love seeing a restaurant row,” Combs said. “If we can get them, we will cut them a sweetheart of a deal.”

There will be plenty of residents close by to fill the restaurants since The Peaks includes plans for several condominiums and patio homes. There is not a set number of units because the site plan for the residential area is preliminary.

Roads feeding in and out of The Peaks will be improved as part of an $80 million bond issue approved in May by Rogers voters. The bond issue will allow the city to pay off 1993 and 1996 bonds and provide $60 million for new capital projects. Those new projects will include street construction, such as the widening of West Pleasant Grove Road from I-540 to U.S. Highway 71, as well as additions and widenings from Perry Road at I-540 to South 21st Street, Pleasant Grove Road from I-540 to Champions Drive, Perry Road from Champions Drive to I-540 and Champions Drive from Perry Road to Pleasant Grove Road.

Road construction is expected to begin later this year.

Combs said the patio homes will range from 2,200-2,500 SF and will be priced from $300,000-$350,000. The condos will be about 2,000 SF and priced to sell anywhere from $225,000-$300,000. The size and price could vary depending on custom designs.

“We just don’t have this type of condominium in this market,” said Combs, who has developed upscale residential neighborhoods such as Fayetteville’s Candlewood subdivision. “The location is perfect. You’re sandwiched between [Charles Reaves’] planned shopping center and a $150 million new hospital and only two minutes away from the Pinnacle Hills community.

“We’ve found a tremendous amount of people in the 28-35 [age] range that are single and making $250,000-$400,000 a year in this area. Whether they’re vendors or Wal-Mart executives, this is what they want. There’s no maintenance, and you’ll have a 2,000-SF, well-appointed home with all of the gold-plated accessories.”

Morrison Shipley Engineers Inc. of Lowell is the engineering firm on the project. There will be 24 acres left for green space on the premises.

Combs expects The Peaks to have about 1,000 on-site residents once it’s at full capacity.

Residents at The Peaks also will have a P.O.A. meeting facility.