CandW

For the record, Gulf Gate Mall was the first all indoor air conditioned mall. It has been replaced by Ed Wulfe's development. He is also responsible for the Meyerland Plaza makeover and is currently developing Blvd Place on Post Oak and San Felipe. That's the history lesson today, lol. As far as Sharpstown Mall goes, I worked on a project a few years ago regarding the vacant big boxes on sight. It was not pretty in the area and I felt very unsafe. I am a product of suburbia and thus when I am in environments like that, I do have a more alert awareness of my surroundings. When I see grown men and women walking the streets during the day in the amount that is there, I have to wonder why they were not at work or at least dressed appropriately enough to be interviewing for a job. Be it at a fast food joint or whatever their qualifications would allow them to apply for. When instead, I see them walking with a "40" towards the multi-family developments in the neighborhoods around the mall and their pants hanging down to their waste. I didn't realize it, but that "gangsta look" came from prisons. Not sure why any person (any race) would want to portray themselves that way. You limit yourself in society. Which brings me to my overall point. The area has been labled as such, which then in turn limits the people that live in those areas to a certain degree of skeptism on the rest of society. They see and know their neighborhoods and that is "the way of life". In order to break that, you have to build up the education in the area, get the churches and civic groups involved, revamp the mall so that people from outside the area want to shop there. The other problem affecting the mall is it's proximity to the Galleria and Meyerland Plaza. The draw from Sugar Land was taken over by First Colony Mall. Why would I drive up to Sharpstown when I can go 5 or 10 minutes from my house in Sugar Land?

I agree with Niche...we are seeing the same things. The big difference between the Houston economy and the national economy is that we had the petrochem industry to stave off the effects of the housing debacle. Slower growth was learned from the 80's, not just by the petrochem industry but by the housing developers. They tried to keep in check with the growth as closely as they could. The retial sector is in for some major troubles, specifically in the suburban market areas. Yesterday mom and dad couldn't spell developer and then with cheap money and seeing the neighborhoods encroaching on the family homestead someone gave them the idea that their corner lot was main and main in suburbia land. Not the case at all. They took the "build it, they will come" attitude. Slow down in the housing market and next thing you know, free rent is being offered in the mom and pop developers centers with noone able to secure financing to expand or develop any new concepts. The strength in the overall Houston economy is still there, but like Niche said, we need the financial markets to correct and start moving construction dollars back into the developers to keep moving forward. I am optimistic that 2nd half 2009 we will see some rapid movement forward on many new projects. I too see 2010 being a solid year for the commercial real estate community as a whole. Housing and retail will be the slowest moving forward. Don't put too much weight into what the national media is saying as it has not been that bad in Houston...overall.

I work in real estate and need my vehicle most days to tour properties with clients or visit with clients and show them what is available to them. I live in the Katy area. If I worked in an office complex and did not go out or have a daily need for my vehicle I would certainly utilize some form of mass transit. Specifically commuter rail. The commuters in Pearland have the beginnings a the same problems Katy, Sugar Land, Kingwood and the Woodlands have all experienced...Growth. Has it been as rampant as those mentioned areas? Not until recently. With SH 288 being able to handle more lanes of tolled traffic or some type of commuter rail, I applaud the efforts of whomever is trying to address it. By getting this going today, it should lesson the problems the other areas have had to endure. I wish they had set aside enough room along I-10 for some type of rail, instead I am going to have to pay to play so to speak. BTW, construction has already begun on extending the service lanes along SH 288 from FM 518 north to CR 403.