Retail District Planned for DT Houston, to be centered around Dallas St.
City officials and local real estate developers, appointed by the mayor to help jump-start downtown retail, are proposing using tax dollars to help create a new shopping district in the city center.
Their hope is to transform a portion of downtown into a vibrant commercial hub with national, regional and local retailers operating amid sidewalk cafes in a pedestrian-friendly environment.
The additional activity would be centered around Dallas Street but likely expand to other parts of downtown, they said.
The plan would involve providing financial incentives to property owners within about a 20-block area who add retail tenants to their buildings or vacant parcels of land, according to members of the Downtown Retail Task Force who discussed the plan with the Houston Chronicle editorial board Thursday.
"This is a bold concept and initiative," said Ed Wulfe, a veteran retail developer and task force member. "It's not going to be easy."
The group envisions Dallas Street as the "spine of a shopping district" that would extend from Milam to LaBranch. Dallas was selected because of its proximity to properties that support retail: the George R. Brown Convention Center, office buildings, and hotels and residential buildings - more of which are under development.
The group also cited existing downtown retail in the Shops at Houston Center and GreenStreet, the former Houston Pavilions, as key to expanding the shopping district and adding more stores and restaurants to their properties.
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On one side of the street, outdoor cafes are shown lining the three-block GreenStreet development and a new high-rise has been added to the property that task force members said is a proposed hotel. Across the street, a major retailer occupies the ground floor of the Sakowitz Building, currently used for parking.
Officials said they are still determining how the financial incentives would be structured, but they likely would be tax reimbursements paid to the property owners after the stores are open. The program would be limited to retailers who sell items such as clothing and "hard-good" merchandise. Restaurants and bars would not be included.
Ideally, new shops would begin to open in July 2015.
Article:
http://www.houstonchronicle.com/busi...hp?cmpid=atfpm
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