Capital Retail Properties Target Downtown Block For Next Retail Development
Capital Retail Properties and Identity Architects have partnered to add ground-level retail to the former Americana building at 811 Dallas St. in Downtown Houston.
With major building renovations complete, the project is looking for new retail tenants, including 31K SF of premier street frontage available and an additional 63K SF on the tunnel level.
“We are thrilled to be part of downtown’s evolution, reawakening a dormant block with a curated tenant roster that will serve and engage nearby offices as well as a day and nighttime population rapidly increasing due to the addition of hotels and residential properties,” Capital Retail Properties’ Jacob Weersing, who is overseeing leasing, said in a news release.
While some established, local restaurants have expressed interest in the space, Weersing is also targeting specialty retailers or fitness parks with several operators sharing locker facilities.
Adding more ground-level retail has been a focal point for Downtown leaders and developers. The development challenge is that most downtown buildings were constructed with a large footprint, not ideal for smaller retailers. Even though it is more expensive to make room for retail than to keep them fully office, industry leaders expect more redevelopment projects to focus on the retail side to meet this need.