from before 3823 views
A rendering by Studio 6 Architects in Fort Smith shows northeast and southwest views of a 16-story hotel and event space proposed in the Pinnacle Hills area of Rogers. Beaty Capital Group of Rogers is the developer.
Beaty Capital Group Inc., a family-owned investment company based in Rogers, is proposing a 16-story, 207-room hotel and entertainment project in the Pinnacle Hills area of Rogers.
According to a master development plan filed with the city, the 1.57-acre site is at 3529 S. Pinnacle Hills Parkway. Ruth’s Chris Steak House occupies this address. The luxury restaurant opened in 2007 but will be relocating later this year to a larger site under construction nearby.
Clinton Bennett, principal of Bennett Commercial Real Estate in Rogers, said Beaty Capital Group has the property under contract. The owner is Chops Properties LLC, managed by Andy Woodman.
Lance Beaty, the founder and CEO of Beaty Capital Group, confirmed the development plans in an interview with the Northwest Arkansas Business Journal on Monday (March 11). Beatty Capital Group primarily focuses on real estate and investments in smaller markets in the central United States. The company develops, manages, promotes and produces live music and entertainment nationally through its TempleLive brand.
“With this type of development, there are 100 things that have to happen to make it happen,” Beatty said. “We’re at number 21. We’ve gone through zoning. We are now going through a large scale. Based on our initial meetings, we feel quite optimistic that this is a project that fits this location.”
Beatty said the development plan reflects the changing scale of the Northwest Arkansas real estate market. He also pointed to another Pinnacle Hills project to highlight this. Georgia-based developer SJC Ventures is developing 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 a major tenant.
“I fly all over the country every week and I meet with people who fly in from all over the country to make deals,” he said. “We just decided to drop anchor [a TempleLive venue] right here in Northwest Arkansas.
Beatty said the Rogers project represents an investment “north of $150 million.” It is a partnership based in New York Dream Hotel Group. They work on a a similar project in Cleveland.
BCG owns three former Masonic Temples in Arkansas, Kansas and Ohio where TempleLive hosts national live music and entertainment performances. The three sites have a combined employment of about 120, according to Beatty.
The company acquired the historic 53,000-square-foot Masonic Temple in downtown Fort Smith in November 2014 in a $2.5 million deal. The three-story building at 200 N. 11th St. was built in 1928 and has multiple meeting rooms and a theater with 900 seats. It reopened as TempleLive in August 2017 after an estimated $5 million in renovations.
The Wichita Scottish Rite Center, in the heart of downtown Wichita, Kan., was acquired by BCG in early 2019. Terms of the private transaction were not disclosed. The Wichita facility was first built between 1887 and 1888 for the Young Men’s Christian Association and was sold to the Scottish Rite Masons in 1898. The building was expanded in 1907 and 1956.
Beaty Capital Group acquired the Cleveland Masonic Temple in 2017 for $725,000.
According to Beaty Capital Group’s development plan in Rogers—TempleLiveNWA/Dream Hotels—the mixed-use project the company is proposing is approximately 305,000 square feet and includes a 2,200-seat music venue. Beatty said the hotel will include a rooftop pool and bar. An unknown national restaurant is planned one floor below. He said it would be one of two restaurants offered at the hotel. The other is on the fourth floor, anchoring a pedestrian street.
Beatty said the deal with the Rogers properties should close by the end of the summer. Pending approval, he hopes to begin construction in the first quarter of 2025.
Daniel Ellis of the engineering firm Crafton Tull in Rogers worked on the site plan for the hotel. Studio 6 Architects in Fort Smith is also working on the project. After any comments or revisions to the plan, it will go before the city’s planning commission later this year.
