May Groundbreaking Is Target for $300M Center

Ian Ritter is national online editor for GlobeSt.com/RETAIL.

ROGERS, AR-A group of three developers is planning a mixed-use lifestyle center, called Centre Pointe at Pleasant Grove, which is estimated to cost $300 million. Goodman Real Estate, the Nelson and Beaty Co. and Urban Retail Properties are building the project, planned for 350,000 sf of retail, 70,000 sf of other commercial space, a hotel and 180 condos in its first phase.

The companies expect to break ground on Centre Point in May. Ross Glickman, CEO of Chicago-based Urban Retail, says the area’s explosive population growth in recent years has led to an increased demand for retail. An Urban Retail spokeswoman tells GlobeSt.com that Centre Point will be similar to the town-center feel of the open-air portion of the Streets at Southpoint, a hybrid mall in Durham, NC, that the company opened in 2002.