Mia Rose Breaks Ground on Luxury Arkansas Project

The Junction of Scottsdale. Rendering courtesy of Rosemann & Associates

Mia Rose Holdings has broken ground on The Junction of Scottsdale, a 226-unit luxury multifamily community in Rogers, Ark. According to Yardi Matrix data, the developer took out a $30 million construction loan from The First National Bank of Fort Smith for the $55 million project. Rosemann & Associates provided architecture services and Thomas Construction serves as general contractor. Opening is expected this fall.

The community will comprise seven three-story buildings with one- and two-bedroom floorplans ranging from 751 to 1,109 square feet. Apartments are slated to include energy-efficient appliances and mechanical systems, in-unit washers and dryers, quartz countertops, vinyl wood flooring and 9-foot ceilings. Common-area amenities will encompass a clubhouse, two fitness centers and a swimming pool, along with a business center with leasable coworking space. Asset Living will manage the property.

Mia Rose acquired the 9.6-acre site at 700 N. 40th St. for $2.2 million. The location is right off Highway 49, roughly 4 miles from downtown Rogers. Numerous retail, dining and entertainment options are within walking distance.

Mia Rose Holdings Founder Tom Kaiman stated in prepared remarks that the project is part of the company’s 49 Growth Plan which involves developing multifamily properties along Interstate 49 in Northwest Arkansas. Recently, the firm has partnered with ERC Holdings for the development of a 150-unit multifamily community in Oklahoma City, Okla.