Houston’s Rice Village to Undergo its First MultiMillion-Dollar Renovation in Decades
Bernard Kaplan, Kaplan Publications
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Phase I includes a new, high tech parking management system, additional street and façade enhancements, outdoor seating, public art, updated landscaping, as well as improved sidewalks and common areas
HOUSTON (Oct. 6, 2015) – Trademark Property Co. has announced a Phase I multimillion-dollar renovation and rebranding of the 296,000-square-foot retail property it manages in Rice Village. The planned renovations will improve aesthetics and the shoppers’ experience while preserving and enhancing the unique character of this historic district.
Trademark started the overall renovation process by conducting in-depth design charrettes with Rice Village owners, placemakers and architects in which they studied landscape, streetscape, hardscape, façades and environmental graphics. Trademark then conducted extensive customer and market research with a leading research firm and consulted with retailers. This research provided the background necessary to design and plan Phase I with the goal of improving the overall shopping experience at the buildings formerly known as Village Arcade in sync with the desires of the local market.
“Trademark has put a lot of thought and research into the evolution of this cherished shopping district for the next generation of shoppers and retailers,” said Tommy Miller, managing director and chief investment officer of Trademark. “After consulting with industry leaders and listening to the community, we believe that these updates will create a more welcoming environment. We want to improve our shoppers’ overall experience – from the time they arrive on property, with better parking options and improved building design, to when they stroll on foot to explore the national, regional and local shops and restaurants offerings, to when they stop to gather with friends in the comfortable seating areas.”
Phase I efforts will focus on improvements to the southwest portion of the village, along University Boulevard and Kelvin Drive.
As part of the evolution of the property, Trademark recently rebranded the former Village Arcade buildings to Rice Village and unveiled a new logo that will be used throughout the district. These renovations will be timed to complement a fresh mix of new-to-market tenant openings, including most recently, Kit + Ace.
Located west of the University, Rice Village feature 50 stores and restaurants, including Athleta, Banana Republic, Chico’s, Gap, Kendra Scott, Kit + Ace, LOFT, MAC Cosmetics, Origins, Sephora, Urban Outfitters, Victoria’s Secret and White House | Black Market.