Texas City's Palmer Plaza is getting a new look and a new tenant lineup.
Edifis Group, which purchased the 99K SF property in February 2016, is overhauling the 31-year-old center to blend better with new projects nearby. Edifis considered design of the H-E-B recently built next door, plus design requests from the Texas City Economic Development Corp. and the mayor's office.
“We have spent the past 18-24 months working on a plan to completely redevelop the shopping center and it’s going to be a major transformation,” Edifis founder Josh Aruh said in a statement.
New tenants include ALDI, Ross Dress for Less and Chick-fil-A. Dollar Tree will relocate within the center, which is on 8.4 acres at the entrance to Texas City. Edifis entered into a 380 agreement to update the aesthetics of Palmer Plaza with improved landscaping, the removal of overhead lines, decorative lighting and signage. The 380 agreement program provides funding for developers for public infrastructure improvements.
Edifis said it is working on other opportunities in Texas City.
“We believe Texas City and the surrounding communities have attractive demographics and rising disposable income,” Edifis Real Estate Manager Chris Short said in a statement.
Redevelopment is a common theme in retail this cycle, as the struggling sector looks to focus more on experience and community to stay afloat among record store closures.
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