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Galleria Expansion, Ritz Carlton Hotel & Residences At Sage/W. Alabama


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Galleria ready to mix residential with retail

http://houston.bizjournals.com/houston/sto.../01/story2.html

Allison Wollam/Houston Business Journal

High-rise residential plans in the works at the Galleria could give the term "home shopping" a whole new meaning in Houston.

Owner Simon Property Group Inc. is drawing up a blueprint for converting the current Macy's store into upscale condos.

Parties involved note that planning is purely preliminary at this point, but agree that adding a residential component to Houston's most prominent shopping mecca is highly feasible.

The door to residential redevelopment might have opened on July 13, when shareholders approved the merger of May Department Stores Co., parent of Macy's, and Federated Department Stores, parent of Foley's.

Retail industry sources say post-merger closings are certain at malls with now-overlapping regional chains.

In the coming shakeout, the newer flagship Foley's store in the Galleria is likely to be rebranded as a Macy's and the existing Macy's is expected to close.

A Federated official says no final decision has been made on the future of either store.

Timely references

David Simon, CEO of the country's biggest mall owner, has kept speculation on the front burner over the past few months.

A week after the May/Federated merger was announced in March, Simon singled out the Galleria as a prime candidate for high-rise condos. He reportedly made the reference while discussing the company's "asset intensification" plans at a real estate conference in Florida.

The Galleria was again singled out by Simon at another conference last month, where he reportedly cited the Houston property's strong potential for a successful multifamily residential component.

Les Morris, a spokesman for Simon Property Group, is non-committal about discussing specifics, but indicates the concept is being considered.

"Given the prominence of the Galleria in our portfolio, adding a residential component is definitely something we would look at," says Morris.

He points out that mixed-use asset intensification is standard in Simon's newer projects.

"All of the developments that we're currently building from the ground up have an office or residential component along with the retail," Morris says.

The Town Center at Coconut Point in Bonito Springs, Fla., includes 305 condo units totaling 45,000 square feet along with 1.2 million square feet of retail space.

Up the Florida coast in Jacksonville, the St. John's Town Center has a village component, a community center and a hotel.

In anticipation of possible post-merger fallout, sources say Simon has already contacted The Hanover Co. about constructing high-rise residential units in the Macy's building.

John Nash, president of the company known for developing multifamily residential projects, notes that Hanover is working with Simon on other properties in other markets, but is not working on any projects in Houston at this time.

"The Galleria is not in the pipeline right now," says Nash. "However, Hanover is always looking for trophy properties and would like to look at and review any mixed-use, multifamily development opportunities that arise in and around Houston."

Integrating components

Residential and retail already co-exist north of the city.

The Woodlands Town Center features residential complexes about a block away from The Woodlands Mall.

"We're definitely seeing a trend where residential components in close proximity to shopping and restaurants is becoming a sought-after amenity," says Tim Welbes, president of The Woodlands Development Corp.

He says high-rise units in the Galleria will probably appeal to people who own more than one home, rather than people looking to set up a primary residence.

Nick Hernandez, a local retail broker with Page Partners, says the retail industry is moving toward integrating multi-use components within shopping centers.

He says consolidation among anchor tenants is leaving empty stores that mall owners must find creative and adaptive ways to fill.

"The Galleria is one of the best candidates for a residential component because it already has office space and a hotel, and it's also located in one of the best high-end residential areas in town," says Hernandez.

"All of the right pieces are in place for this to be successful at the Galleria," he says.

awollam@bizjournals.com -- 713-960-5936

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Don't believe Federated when they say they will keep regional names. I was in Atlanta when the company purchased the Rich's chain, stores that had a long and storied history in both the city and the Southeast. When the purchase was announced Federated announced that the Rich's stores would all be renamed Rich's-Macy's. The flagship Rich's in Atlanta's Lenox Square (which is a truly wonderfully designed and laid out space) took the double moniker while the mall's original Macy's space, which was considerably smaller and less desirable, was closed and completely renovated, then reopened as a Bloomingdale's. Shortly thereafter, surprise surprise, Federated unceremoniously dropped the Rich's name like a carton of expired milk with no apology.

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When I was searching the Simon.com website for the galleria, under Restaurants it lists "BiCE - Coming soon!" Is this the same BiCE restaurant from NYC?

Does anyone have any info/perspective on this? I, for one, have never been to this restaurant before. AND, the BiCE website does not list any restaurants planned for Houston.

Also, do we know what's happening with the Lord & Taylor space yet? Definitively?

Steven.

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So it looks like ours will open a little before dallas's. Am I allowed to put this article? Its not the chron. Oh well.

Bice's Ristorante Gets Trophy Opening With 10-Year Deal

By Connie Gore

Last updated: August 9, 2005 12:52pm

"Click says the Ruggeris will open a Bice's in Houston about a month before doors swing open at the Crescent."

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  • 2 weeks later...

http://buzz.yahoo.com/buzz_log/?fr=fp-buzz-more

1. Houston Galleria -- Houston, Texas (5)

2. Crossgates Mall -- Albany, New York (28)

3. Memorial City Mall -- Houston, Texas (17)

4. Franklin Mills Mall -- Philadelphia, Pennsylvania (25)

5. Mall of America -- Minneapolis-St. Paul, Minnesota (4)

6. Garden State Plaza Mall -- New York, New York (15)

7. Galleria Dallas -- Dallas-Fort Worth, Texas (22)

8. Hanes Mall -- Winston-Salem, North Carolina (21)

9. Westfield Shoppingtown -- Chicago, Illinois (20)

10. Sawgrass Mills -- Fort Lauderdale, Florida (2)

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Clicking through the links back to the source for size rankings that Yahoo! was using, it looks like our Galleria is number two in the country for number of stores, with only the Mall of America in Minneapolis beating us in that category.

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  • 3 weeks later...
tech_segway.jpg

(3/03/04) — At first sight of the Segway Human Transporter, most onlookers' reactions range from from amazement to confusion. That's because the sight of the "It" or "Ginger" is still unusual to most of the public, but the inventor and enthusiasts behind the Segway want to change that.

Houston businessman Wayne Kinsey has a long history with the transporter. He bid over $100,000 to charity for the bragging rights of being the first to own one.

"It's a simpler, easier way to get around," Kinsey said. "To us it's like the first car, first airplane, first computer - it's the type of technology that's a first of its kind. A lot of people were thinking, 'what's wrong with this guy, is he nuts?' No one would spend that kind of money."

Kinsey loved the 'It' so much that he's decided to sell 'It' himself. He's picked the Houston Galleria to be the first Segway retail dealer in America. Although with price tags a lot cheaper than what he originally paid, at around $4000 for the two different sized models, they're still not pocket change.

http://abclocal.go.com/ktrk/technology/030...segwayshop.html

I know I've always wonder where in The Galleria this store was. I remember when Galleria 4 was almost completed reading somewhere that The Segway store was opening among other stores but I've never seen it. I even looked it up in their website and they have a Post Oak address and a number but I've never called it, The Galleria's website isn't that much of a help because there's some stores they don't add in theire Store Directory like Nordstrom and Bernini. Maybe it is in The Galleria but I've NEVER seen it........

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lord & taylor's going to become 3 large restaraunts, and a border's books.

macy's is next to go, it's going to become a highrise residential building.

Where did you hear the first thing? I thought it was going to be more than four places. Though a large bookstore would be nice. I worry though about B. Dalton's though in Galleria III. That was always my hangout when I was younger and would get dragged to the galleria by girl friends.

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lord & taylor's going to become 3 large restaraunts, and a border's books.

macy's is next to go, it's going to become a highrise residential building.

I dought that there only building 3 restaurants and a Borders but then again its too small to built more stores. I was hopeing Macy's wouldn't become a residential building insted it should become stores that's the only thing that would help Galleria 3 because I dought a residential building would help........

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I dought that there only building 3 restaurants and a Borders but then again its too small to built more stores. I was hopeing Macy's wouldn't become a residential building insted it should become stores that's the only thing that would help Galleria 3 because I dought a residential building would help........

Couldn't it be both. Retail on the bottom two floors with access from the street. Then have like a 40 story tower on top of it. The main thing Galleria III needs is easier access.

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I dought that there only building 3 restaurants and a Borders but then again its too small to built more stores. I was hopeing Macy's wouldn't become a residential building insted it should become stores that's the only thing that would help Galleria 3 because I dought a residential building would help........

i asked the pm about it, it's his project as far as mep, and that's what he told me. i trust he knows what he's talking about, but these things to change last minute.

seems everything i'm assigned is due yesterday, ya know?

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Another bookstore always draws a crowd - not to mention Borders is usually quite large (in there two story locations), 3 rest. well I guess we can count on them being rather large. I think perhaps if there were two other stores then that'd be great but, if there are to many tennants in this re-use then the old question arises --- access --- heaven forbid they think that more parking is needed.

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So a Borders and Barnes&Noble basically right across the street from each other? I pity the B Daltons. Is it gonna be like Borders taking up the 2nd floor of Lord & Taylor and the restaurants on the bottom floor? More questions, the residential going in at the Macy's, will it be built of top of the Macy's, using the Macy's as a shell, with access to the Galleria, or is the whole building be torn down? And then what's gonna happen to Galleria 3 afterwards? I say turn it into a movie theater or something, I dunno. Or if they leave the Galleria 3 there, maybe put in stuff that the people in the residential part would use, like a cafe, or a Crunch type gym place.

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I wouldnt be surprised - besides Borders is (in my opinion) a better bookstore. Anyway its hard to get across the street from the Galleria to Barnes &, so I dont think the location would be to bad at all - they would basically serve two different locations.

Yup. Look at the two Starbucks across from each other, they both do good, you pick which one you wanna go to based on which side of the street you're driving on.

Oh, and imagine if the resident tower they put in at Macy's was 40 stories, and so was the Turnberry, both near Williams Tower, that would look pretty sweet in my opinion.

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You know Starbuck's is not all that great of a place. It would be interesting if tea houses got popular in the USA. Or a chocleteria on the Pacific coast of Mexico chocolate is served in cups the size of bowls. There are 4 varieties. They are served from the very hardy to the very light. None resemble what you and I know as hot chocolate, it is a great tasting hot chocolate, serving style from the land where chocolate came from. I would go to Starbuck's if they served that.

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you are right - the coffee at every Starbucks is differnt - usually with to much milk (ie weak, or with to much flavor ie to sweet).

But what Starbucks is good for - it provides a comfortable and cheap atmosphere to relax and sip a drink while socializing with friends. It also provides a nice place to go when alone - since there are always people at Starbucks. That is why it has succeded not the food/drink but the casual and friendly atmosphere where one feels welcome to linger as long as possible.

The same thing applies to a bookstore - where you can also relaxe read a book/have a coffee, or study in peace and seldom have a salesperson bother you.

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It was just a number thrown out by me when I was saying what I wanted at the Macy's spot.  There are no plans (that I know of) for anything 40 stories.

he's probably talking about turnberry. it's going to be next to the waterwall. they've actually decided to reduce it to 30 or so stories now. no final numbers yet, though. and even if there were, i wouldnt tell :)

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  • Highrise Tower changed the title to Galleria Expansion, Ritz Carlton Hotel & Residences At Sage/W. Alabama

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