Simon signals confidence in Houston retail with Galleria upgrade

Texas’ largest mall is getting a facelift.

Indianapolis-based Simon Property Group plans to make “transformative multimillion-dollar upgrades” to The Galleria in Houston, the Houston Business Journal reported. The project is expected to begin this summer and be completed in early 2025. 

A primary focus of the renovation project will be enhancing the aesthetics of the northward and eastward-facing valet entrances. The project is expected to entail new entryways, contemporary LED lighting and redone ceilings. Approximately 155,000 square feet of modern flooring will be installed throughout the mall.

The upgrades are meant to “ensure the center continues to raise the bar and set the industry standard for premier centers across the world,” Simon Property’s Mark Silvestri told the outlet.

The renovations come amid a relatively strong Houston retail market, which showcased resilience after the pandemic accelerated an increase of-commerce and dealt a huge blow to shopping malls in most other parts of the country. 

The last major renovation of The Galleria was completed in 2017, when a $30 million investment transformed the former Saks Fifth Avenue store into Galleria VI, featuring 110,000 square feet of new retail and restaurant space.  

In recent years, The Galleria has welcomed high-end tenants such as Dolce & Gabbana, Amiri, Maria Tash, Prada, Dior and Alo Yoga. Luxury brands Fendi and Saint Laurent have increased their footprints at the site by roughly 100 percent, and Gucci is currently expanding to a two-story concept, the outlet reported. 

The Galleria, which opened in 1970, spans more than 2.4 million square feet and has over 400 stores. 

—Quinn Donoghue

Read more

Commercial

New York

“We kicked the crap out of ‘21”: Largest U.S. mall owner claims comeback

Commercial

South Florida

Simon fails to pay off $159M Miami International Mall loan on maturity date

Development

Houston

Radom targets Tower Theatre in Montrose for redevelopment