House of Blues coming to Houston
The Houston Pavilions has landed a high-profile tenant:
The developers of Houston Pavilions, a shopping, entertainment, office and residential complex planned for three blocks of prime downtown land, planned to announce at a press conference Wednesday that House of Blues has signed the first major retail lease in the project.
Developers Geoffrey Jones and William Denton, who set the wheels in motion for the Pavilions more than two years ago, said they expect to begin construction this spring.
[snip]
With its roughly 3,700 residents, downtown Houston still doesn't have the critical mass of residents that retailers typically require to open new locations. But Thornton said he's not worried.
"Because we're destination entertainment, we're basically a traffic generator," he said.
Indeed, the developers said the venue will attract customers from far beyond the city center, which will help bring in additional retailers.
[snip]
The developers also received financial assistance through an $8.8 million development grant from the city of Houston and $4.4 million from Harris County.
City officials and other industry experts said the project will act as a catalyst for downtown retail.
The Houston Downtown Management District approved a $1 million grant as part of a program established last year to provide financial assistance to developers bringing retailers to downtown.
Posted by Anne Linehan @ 01/25/06 07:41 AM | Print |
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