Celebrity chef Brian Malarkey and his brother James are betting big on the Pearl District, turning the long-empty Oba! building into The Malarkey, a 250-seat steakhouse and seafood grill with a private event room sized for about 60 people. The concept leans into a Pacific Northwest-forward menu and unabashed spectacle, with plans for a goddess Nike statue imported from Italy, a motorcycle mounted on the wall, and a golden stag presiding over a sunken bar. The design details also include stripper poles inside the bathrooms and a private "psychedelic forest" space for events, with the team eyeing a July 2026 opening.
Those menus and design plans were first laid out by OregonLive, which reports that The Malarkey will emphasize Pacific Northwest seafood and local meats, including oysters, clams, mussels, bay shrimp, seasonal salmon and halibut, local beef and venison, and Oregon albacore. The outlet also records the brothers’ description of that trippy private room and other over-the-top flourishes, and notes that the group is pitching the former Oba! space at NW Hoyt and 12th for the project while targeting a July 2026 debut.
From Bend To The Pearl
Brian and James already have Oregon steakhouse cred with Hawkeye & Huckleberry Lounge in Bend, a "modern cowboy" spot that opened in 2024 and leans heavily on beef from the family ranch, as covered by Eater Portland. Malarkey’s own website frames Portland as the group’s next major market and outlines the brothers’ growing restaurant portfolio. That experience in smaller Oregon markets appears to be feeding a more theatrical, higher-capacity play for the Pearl.
Empty Building Gets A Big Makeover
The Oba! building at 555 NW 12th has sat largely vacant since the restaurant closed in 2017, a stalled redevelopment saga local outlets have followed. Willamette Week dug into the site’s long vacancy in 2022, while neighborhood observers have recently pointed to construction and roof work ahead of the Malarkeys’ arrival, according to reporting by NW Examiner. With its sizable footprint, the building helps explain why the team is planning for big parties and large-scale events.
What To Watch For
The Malarkeys are positioning The Malarkey as a destination for large dinners and private events. OregonLive reports the brothers point to Hawkeye & Huckleberry Lounge’s roughly $8 million in annual revenue as part of their case for building so much capacity into the Pearl project. If permits and construction stay on track, the neighborhood is slated to gain one of its largest new dining rooms in years, complete with a flair for theatrics. Expect a steady trickle of permit filings and design teases as that July 2026 target creeps closer.
