Northwest Arkansas developer Bill Schwyhart, who with the backing of trucking magnate J.B. Hunt sparked an explosion of commercial property growth in Rogers, died on Aug. 31 in Dallas. He was 64.
According to an obituary, a visitation and funeral are scheduled for today in Rogers.
Schwyhart disclosed that he had inoperable stage 4 cancer during testimony in bankruptcy court in Dallas on June 24, 2020.
The former car dealer was a catalyst for the Pinnacle Hills commercial development in Rogers that mushroomed with Hunt’s financial backing. As partners in the Pinnacle Group, the businessmen brought more than 1.5 million SF of retail and office space online and helped turn Rogers into a hotbed of commercial real estate possibilities.
The group’s crowning legacy is Pinnacle Hills Promenade, a mammoth 152-acre retail-office development born through a 50-50 partnership with Chicago’s General Growth Properties Inc.
On the west side of Interstate 49 across from the sprawling lifestyle center, Pinnacle Group had developed more than 650,000 SF of retail and office space by 2007.
“Professionally, Bill was a visionary who had the rare opportunity to shape the community he loved dearly,” his obituary says. “Both out front and behind the scenes, Bill was a major influence on the evolution of Rogers. Many dismissed the idea that Rogers or even Arkansas could ever have quality amenities, but Bill asked, ‘Why not here?’ and then worked the next twenty years to make it happen.
“He brought together the right people at the right time with a shared vision to build the state’s largest and most successful multi-purpose development, Pinnacle Hills.”
Schwyhart’s fortunes took a tumble when he left the partnership in the summer of 2007, not long after the death of Hunt that previous December. His business dealings drew increased scrutiny, and the post-2008 commercial real estate meltdown dealt even more blows. For the next 12 years, Schwyhart battled financial travails including lawsuits and foreclosures.
Survivors include his wife, Carolyn; a son, Alex Schwyhart and his wife Xiaotong; a stepdaughter, Kimberly Steerforth; grandchildren Charlotte Schwyhart, Riley Steerforth and Sean Steerforth; mother Betty Fox; sisters Lori Schwyhart, Alisa Fox and Andrea Fox. Bill was preceded in death by his father, Joe Schwyhart.
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