Sharpstown Mall Closing? (Houston, Spring, Bellaire: 2009, house, buy)

[crbcrbrgv]

I had to bump this thread up as the Chron has a big story on the mall (I read the online version so I'm assuming it's their Sunday lead story). I cannot understand how people don't see the potential of this area. We all know the three most important words in real estate: Location, location, location. Sharpstown area has it. I'll tell you something. Maybe white people don't want to reinvest in the area. Believe me, this will be just fine with the non-whites who get rich investing in Sharpstown. It has a lot of potential.

[predatorprey]

I actually live a stones throw away from Sharpstown in the 77036 area. I've been here for about 4 years or so. HPD recently (this year) added a new police unit just for this area and I've seen more police patrols and believe crime has dropped in the area.

There is no way the mall will recover

Demo the whole thing

[westhou]

Originally Posted by crbcrbrgv

I had to bump this thread up as the Chron has a big story on the mall (I read the online version so I'm assuming it's their Sunday lead story). I cannot understand how people don't see the potential of this area. We all know the three most important words in real estate: Location, location, location. Sharpstown area has it. I'll tell you something. Maybe white people don't want to reinvest in the area. Believe me, this will be just fine with the non-whites who get rich investing in Sharpstown. It has a lot of potential.

What did the story in the Chronicle say about it?

[crbcrbrgv]

They are trying to revitalize the mall through a tax break. The proposal was not approved because the anchor stores would have to go on board also. Apparently, it's very complicated. I had to go there today for work. It had been many years since I had visited. I'd say the main issue holding back its revitalization is the condition of the building. It needs a lot of work. In the hallways behind the stores, whole parts of the ceiling were missing. Pipes from restrooms were leaking. An employee from one of the stores told me it had been that way for 3 years. The escalators were sounded as they were in desperate need of repair. I did get an opportunity to talk to the head of security. He was an older black gentleman who told me thugs were no longer welcome. No more jeans falling off of butts and so forth. There were still a lot of thuggy looking characters in the mall, however most shoppers were working class minorities. The guard pointed out the store closings on the map and said about 1 in 4 spaces were vacant. There is only one restaurant in the food court. It is a long uphill battle to bring the mall back. I do believe it is possible, especially if the mall becomes full of people with a lot of hope like the head of security. He was most certainly doing his part.

[westres1]

It lost all of the anchor stores and the only thing that thrives over there is a place that makes "grilles". Apparantley the offer high end specialty "grilles" that hip hop artists come from all over the country to get.

[predatorprey]

I believe the blight starts to end with the demoing of sharpstown mall. With only 40% occupied this mall is dead in my opinion.

Why go to Sharpstown when the galleria is really close.

[xavier1774]

Get rid of it! and build an 20-30 story office building surrounded by condo's

[crbcrbrgv]

Originally Posted by predatorprey

I believe the blight starts to end with the demoing of sharpstown mall. With only 40% occupied this mall is dead in my opinion.

Why go to Sharpstown when the galleria is really close.

Because the Galleria is full of the pretentious. Sharpstown Mall has the potential to become the favorite mall of the unpretentious.

[KerrTown]

Originally Posted by crbcrbrgv

Because the Galleria is full of the pretentious. Sharpstown Mall has the potential to become the favorite mall of the unpretentious.

Houston needs more space for more luxury stores. The only way that can happen is for Sharpstown to carry all those middle-class stores now in the Galleria IV.

[modster]

The mall concept, with very few exceptions, seems to be on the way out. Ultimately Sharpstown will probably go the way of Gulfgate, Northline and Meyerland and be turned into more of a standard center. I guess the biggest question is how to pay for it. Hence the problem du jour that was outlined in the paper.

If they did it right, it could be a huge boost for that area. I do wish they had done more of the town center style concept when they redid some of the above mentioned centers. Something a little more interesting than the usual.

As for the Galleria, it doesn't seem as pretentious as it once was. It is now sporting a pay less shoes, and the Galleria III, that lone orphan section on the far side of Sak's 5th Ave, looks like a slice of a dying mall. I think they over expanded it.