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The Shops At Arrive: Mixed-Use Development At 2800 Kirby Dr.


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I don't get the timing mentioned in yesterday's HBJ article:

http://www.bizjournals.com/houston/stories...19/daily33.html

"Residents will begin moving in later this summer, and the retail shops will open in fall 2009."

If it will be complete enough for residents to move in, why would it take another full year to open the retail shops on the ground floor?

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I don't get the timing mentioned in yesterday's HBJ article:

http://www.bizjournals.com/houston/stories...19/daily33.html

"Residents will begin moving in later this summer, and the retail shops will open in fall 2009."

If it will be complete enough for residents to move in, why would it take another full year to open the retail shops on the ground floor?

I do not think it will be ready for residents late this summer... I could be wrong, though.

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  • 2 weeks later...
WEST AVE INTERIOR WORK BEGINS

Residential units averaging 1,070 sf will be available for occupancy in August. Retail space will follow a year later. Restaurants will include Pie Bar, The Social House, Swig, Cru and Wildfish.

Really? That seems a bit quick. :mellow:

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  • 3 weeks later...
And why another year for the retail after the apartments open for occupancy? That seems like a long time to do the interior buildouts.

Can someone with more specific knowledge on mixed-use development throw out some reasonable ideas why? I would think the retail would get going first, assuming their tenants were pre-leased... quicker buildout, etc. Unless there was a feeling that construction of residential would keep retail customers away...

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Can someone with more specific knowledge on mixed-use development throw out some reasonable ideas why? I would think the retail would get going first, assuming their tenants were pre-leased... quicker buildout, etc. Unless there was a feeling that construction of residential would keep retail customers away...

Not knowing the specifics of this project but...... the architect probably designed the retail as 'spec shell space' with square footage requirements per the developer. Depending on how the marketing went on this one all of the shell retail may not be leased at time of the residential opening. The developer isn't going to wait for the retailers because the apartments equal net profit per month for the rent for the developer.

Typically, the developer leases the retail space and then the retailer 'designs' and builds out the space as a tenant improvement.

It all depends on when the tenants (retailers) sign an agreement and then how long it takes for their design team to design and buildout the space.

I'm not sure about all but I'm sure the Pavilions have had tenants signed up pretty early on so they can design and built out their space around the same time. An example would be the House of Blues...... so they have their design team working on the shell' space they acquired from the developer. It's just how the developer decides to go about it. The Pavilions didn't have a residential portion so they could wait a little longer to get commitments on the retail before breaking ground.

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Not knowing the specifics of this project but...... the architect probably designed the retail as 'spec shell space' with square footage requirements per the developer. Depending on how the marketing went on this one all of the shell retail may not be leased at time of the residential opening. The developer isn't going to wait for the retailers because the apartments equal net profit per month for the rent for the developer.

Typically, the developer leases the retail space and then the retailer 'designs' and builds out the space as a tenant improvement.

It all depends on when the tenants (retailers) sign an agreement and then how long it takes for their design team to design and buildout the space.

I'm not sure about all but I'm sure the Pavilions have had tenants signed up pretty early on so they can design and built out their space around the same time. An example would be the House of Blues...... so they have their design team working on the shell' space they acquired from the developer. It's just how the developer decides to go about it. The Pavilions didn't have a residential portion so they could wait a little longer to get commitments on the retail before breaking ground.

Thx for your ideas.. I know how retail development works re: buildout logistics... but I would think (and would greatly appreciate more info from those who have insight of mixed-use development financing) the developer probably had to have a decent portion of its retail pre-leased for its construction $ to be released as I would assume it's a different situation for a mixed-use with apartment/retail than a mixed-use condo/retail that has little pre-leasing with its retail but strong pre-sales of its condos... If that logic were true and the retail needs to be 'strongly' pre-leased, I would think the retail buildout would be going on by the tenants concurrently with the apartment buildouts by the developer.

You stated that the developer won't wait for retail as the apartment rent brings revenue every month. I would think the same logic applies conversely, especially if the developer might have a 'fixed rent + % of gross sales (name for that?)' type of lease with the retail tenants.

What do you think, Shasta, and others?

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  • 2 weeks later...

Happened to take a drive through this intersection Westheimer/Kirby and was floored! :mellow:

This project is absolutely magnificent, hat's off to the developer and architects involved. I was able to sit at an outdoor place aross the street and had great views of the movement going on above. This is simply a mind boggling feat in the works. The transformation and aura of that very corner is beyond words. Like a monolithic movie set being built up.

I have my bottle of champaign ready to pop for the grand opening!

Che bella giornata! :D

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Oh, brotherrrrr........"edgy boutiques artistically displaying their wares"?

Edgy! ha!!! That's the marketing kiss of death, especially when used in conjunciton with the word 'authentic." Akin to proclaiming yourself hip, or giving yourself a nickname.

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Edgy! ha!!! That's the marketing kiss of death, especially when used in conjunciton with the word 'authentic." Akin to proclaiming yourself hip, or giving yourself a nickname.
190,000 square feet of carefully leased retail including:
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Like or not it's almost here. It's called "alternative" like in there must be something else to do and go besides the Galleria. Gotta think of it from a visitor's perspective.

I see these type of projects progressing all the way down Westheimer, Richmond etc. Its called change and I truly welcome it.

Houston don't be yourself is my new logo. We have gone completely cosmopolitan and that's the inevitable. Vision (I see an elevated rail going right through here in very near future). Like in Fritz Lang's Metropolis. :)

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