CITYCENTRE OWNER BUYING HOUSTON PAVILIONS 
Houston’s Midway Companies, along with an unnamed New York Partner, is set to acquire Houston Pavilions from the receiver who took over the Downtown mall last year, according to a report in today’s HBJ. Reporter Jennifer Dawson notes reports to the bankruptcy court indicate that the development’s retail space is now 66 percent leased, and the property has a positive cash flow — before debt service. In the year before its default, Pavilions’ original developer made no payments on its original $120.6 million 2007 loan. [Houston Business Journal; previously on Swamplot] Photo: Haynes-Whalley
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This is good news. Midway has proven themselves with citycentre. If it wasnt a “city center” before, it certainly is now. Tuesday night out there looks like a Saturday in NYC. Sorta. HP needs help, so this should prove good for Houston.
I’m hoping Midway can work the same magic they are doing at City Center.
The problem with Houston pavilions is its moronic design. The stores should have been facing the street not an inward walkway. It makes it seem like you are in some suburban outdoor mall and not in the middle of the city. I do hope it’s successful though as downtown could use a bustling mall.
Chris Litherland:
The problem with Houston pavilions is its moronic design. The stores should have been facing the street not an inward walkway. It makes it seem like you are in some suburban outdoor mall and not in the middle of the city. I do hope it’s successful though as downtown could use a bustling mall.
….Could’nt agree more..
Short of a heavy remodel, I’m afraid there’s not much they really can do to fix the horribly compromised design.
Things wouldn’t have turned out as terribly as they have, had the original mixed use concept been realized.
If you put one or two retailers here that people actually desire I believe the traffic will come (think H&M).