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Another mixed use project will be introducing new and different dynamics in the Galleria area:
Houston Chronicle: Westheimer’s High Street ‘is real’ “Construction company Linbeck is building High Street, which will be on nearly 7 acres on the north side of Westheimer between the West Loop and Highland Village where Central Ford used to be.” “Montesi said High Street will have 100,000 square feet of shops and restaurants and 80,000 square feet of office space. Four stories of apartments will be built above the retail space. A parking garage will accommodate shoppers and tenants. Restaurants from outside Houston, as well as national and local retailers, have expressed interest in the project, Montesi said, but no deals have been signed.” It will be very interesting to see how this area is going to look in the next 6 – 12 months. Although the whole nation is flooded with news about property values dropping like a rock, this particular region still have land’s value reportedly double in 3 months (more news to come.) One thing the general public does not seem to grasp is that property value, especially in the commercial sector, is so differentiated that no blanket statement could be made anywhere. |
Tags: chronicle, commercial real estate, Galleria, houston, post oak, retail development, texas
