Five acres of land in the Chenal Kanis subdivision were sold to Little Rock residents James and Terry Barnes and Promenade Hospitality Limited Liability Co. for $3.4 million.
The land sits on 716 Rahling Road in west Little Rock, near the Chenal Promenade, and was purchased from Deltic Timber Corp. The land sits across from Bank of the Ozarks at the Rahling and Chenal intersection.
According to the special warranty deed filed during the purchase, James and Terry Barnes intend to build an upscale hotel and restaurant on their 44 percent of the property.
The plans for the hotel went through Little Rock’s Planning Commission and Board of Adjustment to begin development of a four-story Aloft Hotel. This would be the second Arkansas location for Aloft Hotels, and the first in Central Arkansas; the chain currently has a location at 1103 S. 52nd St. in Rogers.
The Barneses requested a non-residential zoning variance so the hotel could exceed the 45.5 foot height restriction, which was approved. Another ordinance was approved for signage on the east side of the hotel.
The couple has not yet submitted the plans for a building review, which will be necessary to continue development.
The other 56 percent of the property was purchased by Bhu Makan, owner of Promenade Hospitality, who has not disclosed his plans for the property.