Urbannizer

New Garage with Retail Next to Lyric Center

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From the Downtown RE 2Q Update 

 

In addition to major upgrades to Lyric Centre such as a lobby makeover, a fitness center for tenants, an upgraded deli and new landscaping, US Property Management will replace their parking lot with a 450-space parking garage. The garage’s first level will be retail, with two parking levels above for retail and public parking and two subgrade levels for tenants. Construction should begin in about eight months, with garage completion 2Q17.
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That end of downtown could use both more retail and more parking - both of which would be coming on line right about the same time as the Market Square residential high rises.  

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That end of downtown could use both more retail and more parking - both of which would be coming on line right about the same time as the Market Square residential high rises.  

 

I'd bet they are aiming for just that with the retail slots.

 

The other lots that look ripe for picking are the half block next to the Houston Ballet building and the Chase drive-thru bank across from Kim Son. 

 

Phonecia seems crowded every time I go there now, someone is going to step up and add a grocery store somewhere once these few thousand new residences come online.

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I guess the two levels of retail/public parking effectively replace the two surface lots lost to the two Market Square high-rises. On the other hand, this delays the chance of any high rise residential development here, a nice spot looking onto the bayou park.

 

 

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Eh, it's one less surface lot. Maybe this will help spur development on the lot next to the Center for Dance

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I guess the two levels of retail/public parking effectively replace the two surface lots lost to the two Market Square high-rises. On the other hand, this delays the chance of any high rise residential development here, a nice spot looking onto the bayou park.

 

There's a ton of residential in the pipeline already.  This preserves the view for the north facing offices in Lyric.

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It's a garage with GFR replacing a surface lot near Market Square and the theater district - I count it as a win

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With parking lots disappearing (Woohoo) parking will become scarce and we will need garages. A nicely designed garage with ground floor retail is a slam dunk in my book.

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If course it's more than talk..? It's the next in line after Houston First wraps up the convention district/secures the financing.

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this is the Lyric Center taking advantage of an opportunity...

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The Lyric Centre has announced that a parking garage will be constructed on the surface lot to the north of the building.  Details are being finalized, but they expect ground-breaking to begin in the first quarter of 2016.  The ground floor of the garage will feature retail space.  This is in addition to other updates to the building to make it more competitive in the leasing market.  I will follow-up when I have additional information.

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Retail being added and a potential garage for The Lancaster to use at night just a few blocks away...

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Retail being added and a potential garage for The Lancaster to use at night just a few blocks away...

 

Oh no, retail!  But but but the market over there just can't support retail....

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Oh no, retail! But but but the market over there just can't support retail....

If it's subsidized by something people actually value enough to pay for, like a place to put a car, it might work out.

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Are you sayin they're making a bad investment putting retail in? I thought developers never did anything wrong...

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And now the argument has spread to other threads! At least keep it in the downtown sub guys...

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