An upscale multifamily complex and a boutique hotel are heading for a Rogers development led by Chad and Monika Hatfield of Hatfield Properties.
The development, which will also include office and retail space, will be built at The Fields at Pinnacle, a 28-acre property that the Hatfields began developing a year ago. The first project, a $10 million, 40,000-SF office building opened this year at 3070 S. Champions Drive, and its main tenant, Mars Inc., moved in March 25.
When Hatfield Properties announced the original project’s first phase, Monika Hatfield said the second phase would be a series of four office buildings on the remaining 15 acres. Market research convinced the Hatfields to develop an amenities-rich, multipurpose complex instead.
“There’s an opportunity gap in the area for a cool boutique hotel and some retail so we wanted to switch gears,” Monika Hatfield said. “There’s an opportunity gap for some true luxury condos in the area as well.”
Hatfield said the change in plans was a “hard sell” to the city of Rogers, but the city approved the new development. Hatfield said the specifics of how many condos and the size of the hotel will be determined after consulting with developers.
“Whatever we have done has been very premium and we put a lot of blood, sweat and tears and our emotional stamp onto it,” Hatfield said. “We hope to partner up with a boutique hotel company and not do it ourselves. I have visions of a rooftop bar overlooking the Promenade and the AMP.”
The Hatfields purchased the 28 acres at the northwest corner of Champions Drive and Northgate Road for $3.4 million in 2013.