Posted 4/6/2004 04:06 pm
Updated 1 year ago
No other tenants were revealed for what officials describe as a $75 million development.
RED Development LLC of Kansas City, Mo., and Scottsdale, Ariz., hopes to hold a spring 2005 groundbreaking for the project, designed in a French Gothic style.
If that timeline is on track, a grand opening could take place in spring 2006. Site work could begin this fall, although RED Development has not bought the location yet.
Company officials indicated the land purchase would likely close by year's end. The 48-acre site is at the southwest corner of Chenal Parkway and Rahling Road.
The location was to be the home of another open-air lifestyle center — The Avenue Chenal, a 340,000-SF upscale retail space that never materialized.
The land originally was optioned by Cousins Properties Inc. of Atlanta, which hoped to build with a 120,000-SF Parisian store as an anchor.
Planned improvements include extending Rahling Road to the west of Chenal Parkway where it will intersect with La Grande Drive.
The project marks RED Development's first Arkansas effort as well as its first partnership with Dillard's.
Dillard's officials were noncommittal on what effect if any the new west Little Rock store would have on its flagship retailing operations at Park Plaza Mall.
The Promenade at Chenal announcement marks a retailing rivalry with another big shopping center project in west Little Rock.
Earlier this year, The Ashley Co. of North Little Rock confirmed its intentions to pursue development plans for a 500,000-SF retail center called The Village at Brodie Creek.
The $60 million, open-air project is set for an 81.6-acre site at the northwest corner of Interstate 430 and Col. Glenn Road.
Two anchors unofficially linked with Ashley's project are J.C. Penney Co. of Plano, Texas; and Belk Inc. of Charlotte, N.C. But a projected timetable and identities of tenants remain shrouded for now.