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Is anyone else worried over fate of Montrose 1/2 price books.


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4 hours ago, trymahjong said:

I am worried. Where can 1/2 Price books relocate with in Montrose......all the rent is so expensive. I don’t want to lose that business...I still go in weekly.

 

They generate foot traffic.

 

A smart developer would include them in their mixed use development, possibly losing money on the lease itself, but gaining a valuable tenant in the overall development (increasing the rents overall). 

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40 minutes ago, HNathoo said:

 

They generate foot traffic.

 

A smart developer would include them in their mixed use development, possibly losing money on the lease itself, but gaining a valuable tenant in the overall development (increasing the rents overall). 

Is there a developer out there who could be intelligent enough to see that would be a smart move?

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16 minutes ago, trymahjong said:

Is there a developer out there who could be intelligent enough to see that would be a smart move?

 

Pretty much every grocery store mixed use development. They make the money on the increased rents the apartment/office tenants pay.

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19 minutes ago, dbigtex56 said:

Are Half Price Books pockets deep enough to survive a store closure for however long it takes to construct the new building?

No, nobody has the money to sit around with zero income while a building is built. They're going to have to find some other place to move to (where they'll stay for the foreseeable future), and someone else will move into the new building.

I know for a fact there's a neat stripcenter just south of Shepard and Richmond that has tons of space, might feel right at home for them. I do hope they don't leave the neighorhood.

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Posted (edited)

Any chance the GOV would grant money? Would COH? 
 

COH and DMD (downtown management district) are Always looking for ways to bring people back downtown at night.......maybe thatMall might offer books a million space. Midtown Management seems to have a lot of open office space.......I’m thinking the abandoned antique store across from Natachee.....?
 

I really hope 1/2 books can stay .........

Edited by trymahjong
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Hmmmmmmmm

i guess that’s a comfort, but if I want to practice walkability in a realistic fashion and advocate a small “ footprint” For my grocery, dry cleaner, restaurant, as a compliment to my walkability................I want a 1/2 Price Books with in Montrose or at least the Westside of Midtown. Hence the prime reason for starting this topic...........I’m afraid I am losing my 1/2 Price Books.......sigh. I was looking for discussion on how that might happen.

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Most used bookstores in America have been wiped out by rising retail rents nationally (and decline in reading among the public). Main era of this was 1990-2010. I doubt you'd see Half Price Books in a new mixed-use development; rent is too high and it's not the image developers will give a discount for (books just aren't hip the way food is).

 

I'm sure they are looking for a way to serve inner Houston. This is their only store inside of Beltway 8! And they are not going to want to be too far from Rice University or Montrose. But I think a pretty wide portion of the west Inner Loop is going to be on the table, and they will look for any place that gives them reasonable rent, good visibility, and protection from rapidly rising rents or redevelopment. They also seem to thrive on shopping center foot traffic, so look around at your older shopping centers along major roads. Something along Shepherd would make a lot of sense, maybe southeast corner of Shepherd & Westheimer.

 

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