In April 2004, RED Development, LLC announced intent to purchase 38 acres from Deltic Timber Corporation (now PotlatchDeltic) to develop the Promenade in west Little Rock's Chenal Valley.[4] The sale between the two parties was closed in September 2006 and construction began in 2007. The Promenade at Chenal was completed in May 2008, with final construction costing $79 million.[5]
The Promenade was originally planned to be a 485,000 square feet (45,100 m2) center anchored by Dillard's, but due to construction delays, Dillard's did not become a tenant at the Promenade. Instead, the Promenade consists of 340,000 square feet (32,000 m2) and Dillard's remains at its flagship location in Park Plaza Mall, further east in Midtown.[6] Original tenants at the Promenade included the state's first IMAX theater and the state's first J. Crew.[7]
In August 2011, Apple opened its first Apple Store location in the state at the Promenade.[8] As of 2022, the Little Rock location is the only Apple Store location in Arkansas.[3] In 2018, AMC Theatres took ownership of the Promenade's Chenal 9 IMAX theater and proceeded with $3 million of renovations to the venue. AMC upgraded the theater's seats and speakers, as well as expanded its concessions.[9]
In December 2019, a non-disclosed private group based out of the Northeast United States announced they had purchased the Promenade and will retain the local group Moses Tucker Partners to manage the site.[10] The next month, Arkasnsas Democrat-Gazette reported the Promenade exchanged owners for $10 cash and other unspecified considerations "in lieu of foreclosure."[5]
Summer of 2021 saw Urban Outfitters open its first Arkansas location at the Promenade.[11] Sullivans Steakhouse opened a Little Rock location at the Promenade in April 2022, with Executive Chef Michael Brown.[12] Arkansas-based and family-run jeweler, Sissy's Log Cabin,[13] chose the Promenade for its sixth location, which opened in July 2022.[14]