ArchFan Posted May 24, 2015 Share Posted May 24, 2015 I tend to agree with jmitch94's comment, although I would love things to be otherwise. i have been told -- by someone in a position to know a bit -- that this Target is their most profitable store (I assume just in Houston). So, my guess would be that they would not close it, although if their management were clever, they might be open to the idea of redeveloping all or part of the property. 3 Quote Link to comment Share on other sites More sharing options...
swtsig Posted May 24, 2015 Share Posted May 24, 2015 A redevelopment would be inevitable imo... It's a huge tract of prime real estate and target, if motivated to do so, could not only realize a solid return on the land but could probably develop a knockout flagship target. Granted who knows what their current basis is so maybe they're perfectly satisfied with their existing situation. But the opportunity is there. There's some very interesting projects floating out there for the ROD area.... A suburban style target definitely doesn't jive. 7 Quote Link to comment Share on other sites More sharing options...
King Owl Posted May 25, 2015 Share Posted May 25, 2015 Good point, sig. I do have to let you know the word is "jibe", however 1 Quote Link to comment Share on other sites More sharing options...
Fortune Posted May 25, 2015 Share Posted May 25, 2015 There's some very interesting projects floating out there for the ROD area.... A suburban style target definitely doesn't jive.Projects that haven't been announced yet? Quote Link to comment Share on other sites More sharing options...
gene Posted May 26, 2015 Share Posted May 26, 2015 I tend to agree with jmitch94's comment, although I would love things to be otherwise. i have been told -- by someone in a position to know a bit -- that this Target is their most profitable store (I assume just in Houston). So, my guess would be that they would not close it, although if their management were clever, they might be open to the idea of redeveloping all or part of the property. everyone feel free to blame me...i love that target and i am sure that i one of the main people that keep them in business haha! 1 Quote Link to comment Share on other sites More sharing options...
Mab Posted June 7, 2015 Share Posted June 7, 2015 http://www.olivermcmillan.com/uploads/project/brochure/r_o_d_brochure__may_2015__l_r-2.pdf 4 Quote Link to comment Share on other sites More sharing options...
monarch Posted June 7, 2015 Share Posted June 7, 2015 ^^^ the above oliver mcmillan download left me breathless! brilliant and exciting. props for sharing mab... Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted June 7, 2015 Share Posted June 7, 2015 Out of place? The entire city of Houston is out of place. With churches next to strip joints and 100 yr old two story houses nestled amongst 500 ft gleaming towers of glass you think the most profitable target in the houston area is going to spend hundreds of thousands of dollars to move from their most profitable location to an area not guaranteed to be as profitable because you think it doesn't look right? 8 Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted June 7, 2015 Share Posted June 7, 2015 Btw, let's not kid ourselves here. Tall buildings and jobs are but two aspects of being urban. Uptown is not even an uptown in the truest definition of the word and it certainly is not a downtown. Uptown is a type of edge city sometimes referred to as a boomer. http://www.lewishistoricalsociety.com/wiki/tiki-print_article.php?articleId=59So my question is, if The downtown area is just now dipping it's toes in urban format stores like target, what makes you guys think the far less urban 'near' uptown area is just dying to go the urban target route. Remember we are still building drive through cvs stores and low rise public storage areas around downtown. Uptown is a gem, but it is still a suburban gem. Two of the most important factors that would contribute to an urban format target are missing. 1. Walkability- this is not just the ability to get there by foot but more about how comfortable getting there by foot is. Another major factor is wanting to get there by foot. Taking a pleasant walk versus fighting lanes of traffic has to be considered. 2. Public transportation. Again it is not about being able to get there on public transit but getting there with fairly few hassles. Downtown has excellent transit options, unlike uptown, it is not that difficult to walk, it has a growing population and a huge immediate surrounding population, let's see if downtown lands urban format mega stores before we take pitch forks to this target 2 Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted June 7, 2015 Share Posted June 7, 2015 Target is not Saks. Saks move might have made financial sense, Target may not. You pop into Saks and get a few items, at target you get a cart and fill it up. You are intentionally missing my point. Houston is not zoned and it has lots of space. The target is going to remain for as long as it makes financial sense. 2 Quote Link to comment Share on other sites More sharing options...
intencity77 Posted June 7, 2015 Share Posted June 7, 2015 Marshalls and other suburban strip stores are directly across from the high end Galleria, in the heart of Uptown and have remained for decades even with all the towers surrounding them. Why anyone would think this Target store will deviate from the Houston norm of suburban abutted next to high rise/density is beyond me. It isn't going anywhere anytime soon IMO. 3 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted June 7, 2015 Share Posted June 7, 2015 You are intentionally missing my point. Houston is not zoned and it has lots of space. The target is going to remain for as long as it makes financial sense. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted June 7, 2015 Share Posted June 7, 2015 Could Target not build a large CityTarget (100k sq ft or so) in the eastern half of their parking lot while the current store remains open and shoppers park in the western half of the lot? Seems like the obvious way to redevelop the site without interrupting operations. Quote Link to comment Share on other sites More sharing options...
Dreamer78 Posted June 8, 2015 Share Posted June 8, 2015 It would be nice to see the whole property redeveloped.....what an eye sore and waste of space. Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted June 8, 2015 Share Posted June 8, 2015 Could Target not build a large CityTarget (100k sq ft or so) in the eastern half of their parking lot while the current store remains open and shoppers park in the western half of the lot? Seems like the obvious way to redevelop the site without interrupting operations.They could. But why would they?Why spend money to?What's the incentive? Sell the unused portion you say? Why take the risk?I am still not seeing the economic wisdom behind taking company funds to build an unnecessary building, then move my operations to that building, then demolish a functional building that btw I am making record profits out of. What am I missing? Oh right, some people find the current format ugly. 2 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted June 8, 2015 Share Posted June 8, 2015 I'm not sure why you are getting so bothered over a group of people speculating on the inevitable.. All I was saying is that they can build a new urban format store on site while the suburban store stays open. Quote Link to comment Share on other sites More sharing options...
Dreamer78 Posted June 8, 2015 Share Posted June 8, 2015 Any ideas what will happen with the abandoned dreams car wash (SanFelipe@Bancroft) adjacent to target? 1 to 2 acres there for development. Quote Link to comment Share on other sites More sharing options...
por favor gracias Posted June 8, 2015 Share Posted June 8, 2015 Any ideas what will happen with the abandoned dreams car wash (SanFelipe@Bancroft) adjacent to target? 1 to 2 acres there for development. Mattress Firm? 6 Quote Link to comment Share on other sites More sharing options...
Fortune Posted June 10, 2015 Share Posted June 10, 2015 I'm surprised Christian Louboutin landed in The Galleria instead of RO District. Quote Link to comment Share on other sites More sharing options...
HOUCAJUN Posted June 10, 2015 Share Posted June 10, 2015 I'm sure the Galleria negotiated a sweet offer so they wouldn't go to ROD. The competition between these two places will be interesting to watch going forward. Has The Galleria ever had this much of a threat? 1 Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted June 10, 2015 Share Posted June 10, 2015 (edited) They could. But why would they?Why spend money to?What's the incentive?Sell the unused portion you say? Why take the risk?I am still not seeing the economic wisdom behind taking company funds to build an unnecessary building, then move my operations to that building, then demolish a functional building that btw I am making record profits out of.What am I missing? Oh right, some people find the current format ugly. I think it boils down to, what is the land value and what kind of income stream will that land support? In a free market, sooner or later the land will find the highest and best use (the use producing the most revenue) that it can support. The redevelopment of West Creek and the ROD site suggest that the land under the Target, if redeveloped, could produce much more revenue than the Target produces. Hence at some point, barring a collapse in the economy, the Target site will be redeveloped. The tricky factor is whether there is a lease which allows Target to stay there x number of years. In that case, Target is not concerned with the land's potential, and may choose to sit (I believe this is the problem with the shopping center catty cornered from the Galleria on Post Oak). Or, if Target owns the site, they may not yet have gotten the offer they can't refuse, since the trouble of relocating or the lost revenue stream must be subtracted from whatever offer they get. Also, once the West Creek site is fully redeveloped and ROD is presumably successful, the Target site will be worth much more than it is now. So there is an incentive to wait and let the land value increase before pulling the trigger. Edited June 10, 2015 by H-Town Man Quote Link to comment Share on other sites More sharing options...
HoustonIsHome Posted June 10, 2015 Share Posted June 10, 2015 HTM I agree with you, the only thing I have an issue worth is the site being redeveloped because of land value or some financial lure to target. The points you mentioned are what supposed to be reality. It is what common sense tells you should be reality. But things have a funny way of bucking reality in Houston. Why? Because it can. The layout of our city and our building laws make it so that we can adopt a motto of :if we can't buy it, we will build around it.The only way I see target moving is if:1. Target themselves feel they can make a larger profit elsewhere while decreasing their expenditure. 2. They don't own the land and they get the boot. 3. The company dies.4. Target gets in the game and what's the land themselves for something else. Target is not a mom and pop shop. They have the $$$ to wait out anything you throw at them just as long as they are making money. A smaller retailer would jump at the offer to sell the property for 3 times the value or ten times what they paid for it and use the money to rebuild a bigger, badder store.target makes billions. How much could that land be worth? A couple million max? A minor scandal would affect target's purse a heck of a lot more than that. Plus they have to factor in loss of profits, purchasing new land, getting building permits, building etc. Sounds like a hassle they would probably not be willing to take unless one of the 4 reasons I gave above is in play.I mean why go to all that trouble when a developer can just try buying those buildings east of the target, or that little one on the corner of Westcreek and westheimer with the steakhouse? I see target out lasting a great number of those low rise complexes in the area. Why? Again because they can. Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted June 10, 2015 Share Posted June 10, 2015 I think it's pretty simple; Target still targets (lol) a customer base in a relatively untapped area. It's still profitable, and land value will continue to increase. That "minor scandal" you mentioned already happened though; the customer data breach that happened two years ago and the two weeks it took Target to find out about the breach cost them hundreds of millions. I don't see this store lasting too much longer. Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted June 10, 2015 Share Posted June 10, 2015 I'm sure the Galleria negotiated a sweet offer so they wouldn't go to ROD. The competition between these two places will be interesting to watch going forward. Has The Galleria ever had this much of a threat?I've always wondered why Hermes was in the old BLVD place building. Along with a few other high end shops. Chanel and Tiffany's are staying put at the "jewelry box"... For now. We shall see. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted June 10, 2015 Share Posted June 10, 2015 HTM I agree with you, the only thing I have an issue worth is the site being redeveloped because of land value or some financial lure to target.The points you mentioned are what supposed to be reality. It is what common sense tells you should be reality. But things have a funny way of bucking reality in Houston. Why? Because it can.The layout of our city and our building laws make it so that we can adopt a motto of :if we can't buy it, we will build around it.The only way I see target moving is if:1. Target themselves feel they can make a larger profit elsewhere while decreasing their expenditure.2. They don't own the land and they get the boot.3. The company dies.4. Target gets in the game and what's the land themselves for something else.Target is not a mom and pop shop. They have the $$$ to wait out anything you throw at them just as long as they are making money. A smaller retailer would jump at the offer to sell the property for 3 times the value or ten times what they paid for it and use the money to rebuild a bigger, badder store.target makes billions. How much could that land be worth? A couple million max? A minor scandal would affect target's purse a heck of a lot more than that. Plus they have to factor in loss of profits, purchasing new land, getting building permits, building etc. Sounds like a hassle they would probably not be willing to take unless one of the 4 reasons I gave above is in play.I mean why go to all that trouble when a developer can just try buying those buildings east of the target, or that little one on the corner of Westcreek and westheimer with the steakhouse? I see target out lasting a great number of those low rise complexes in the area. Why? Again because they can. I think if anything, development in Houston follows market principles even more closely than in other cities, due to the lack of planning restraints. Target is not local, they are a national retailer that is not going to be sentimental about a particular site. Just like Hearst and the downtown Chronicle site, they will leave when the figures are right. Although I suspect a redevelopment would involve a more compressed Target design with garage parking, along with other components. Also, the land there should be worth way more than a couple million. Quote Link to comment Share on other sites More sharing options...
gene Posted June 10, 2015 Share Posted June 10, 2015 all this talk about Target...what about Zone D'Erotica? what is the story with that place and how does it stay open? i have seen 5 cars there total since its been open haha! seriously, anyone know the story on that place? 2 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted June 10, 2015 Share Posted June 10, 2015 I've always wondered why Hermes was in the old BLVD place building. Along with a few other high end shops.Chanel and Tiffany's are staying put at the "jewelry box"... For now. We shall see. By "staying at the jewelry box", do you mean they are moving in to the "jewel box" under construction at The Galleria? Where did you get that information? Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted June 10, 2015 Share Posted June 10, 2015 The tress are in. Photo c/o GenslerTexas 9 Quote Link to comment Share on other sites More sharing options...
monarch Posted June 10, 2015 Share Posted June 10, 2015 how completely sad i am. i am a grown man, and i simply cannot hide the fact that i am in love with the RIVER OAKS DISTRICT! i just know that once it is completed and fully opens for business... i shall completely lose my mind.... 4 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted June 10, 2015 Share Posted June 10, 2015 By "staying at the jewelry box", do you mean they are moving in to the "jewel box" under construction at The Galleria? Where did you get that information?By stayed put I mean leasing space to the Galleria, as shown in the renderings of the jewelry box and not moving to ROD. Quote Link to comment Share on other sites More sharing options...
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