HOUSTON — The 2.4 million-square-foot Houston Galleria shopping center will undergo a $250 million renovation, according to mall owner Simon Property Group (NYSE: SPG). The Galleria is located at 5085 Westheimer Road.
The comprehensive renovation is scheduled to begin this spring, though components of it have already begun. The renovation will include a new 200,000-square-foot flagship store for Saks Fifth Avenue. The new store will be located adjacent to Saks’ former location.
The mall opened in 1970. The last time the Houston Galleria underwent a renovation/expansion was in 2006.
Simon plans to turn the old space into a new multi-level mall extension that will feature 110,000 square feet of space to house 35 new retailers and restaurants. The extension will be anchored by Saks Fifth Avenue on one end and Neiman Marcus on the other.
“This project will provide the unprecedented luxury shopping experience that the Houston market craves, with high-profile brands, unique restaurant choices and premiere amenities,” says David Simon, CEO of Simon Property Group. “The new flagship Saks Fifth Avenue will be the cornerstone of this high-end retail opportunity and will continue to anchor the Galleria in an even more impactful way.”
Houston Galleria’s luxury wing will also receive a $30 million facelift. La Perla and Tod’s are scheduled to take up occupancy in the wing later this year, while Top Shop and Top Man will open in March. Celine will open its doors in 2016.
These newcomers will be joined by existing retailers like John Varvatos, Tourbillion, Rolex, Trina Turk and Hublot. Chanel, Gucci, Bulgari, Versace, CH Carolina Herrera, David Yurman, Ralph Lauren, Apple and Tory Burch recently renewed their leases and underwent renovations.
Simon will also build a 14,000-square-foot, freestanding retail building along Westheimer Road. This will be the mall’s only freestanding retail structure. It will connect to the rest of the shopping center via a covered walkway.
The new space will accommodate two new tenants, high-end apparel brand the Webster, and “a high-end, international restaurant concept” that will open next year. This will be the Webster’s first location outside of Florida. It is scheduled to open in November. La Perla and Celine are also new to the Texas marketplace.
JPRA Architecture is designing the structure, with Beck acting as the contractor/architect of record.
The renovation will also include major interior enhancements with a new color palette of black and white, as well as white marble flooring with black granite accents, elevated lighting, new seating and rugs and enhanced interior landscaping. The food court will receive upgraded tile, lighting, furniture and a new tenant roster.
Houston Galleria is Texas’ largest shopping center. It contains 400 stores and restaurants, two high-rise hotels and three office towers.
Indianapolis-based Simon Property Group owns, manages and develops real estate.
The company’s stock price closed at $187.14 per share on Thursday, Feb. 26, up from $147.08 per share a year ago.