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Hangout Haven

Got TOMS? Innovative shoe store searching for perfect Houston location after Austin opening

Clifford Pugh
Feb 26, 2014 | 10:41 am

Blake Mycoskie is a man on a mission.

The founder of TOMS, the innovative company that shot to success by giving a pair of shoes to a needy child for every pair sold, has been scouting for the perfect location for a stand-alone Austin store for two years — and he finally found it.

The new TOMS store, which is only the company's second free-standing store (the first is in Venice, California) will open on March 11 in a renovated Victorian house "with a lot of history to it" at 1401 South Congress in the capital city.

"It's more about having the perfect space. I'm not going to rush it," Mycoskie said.

"We are trying to create a real space for the community. I don't like to even call it a store. It's more of a community space, a cafe, a meeting place for people who are inspired by what we are doing and doing other great things themselves," Mycoskie said in a telephone interview from TOMS headquarters near Los Angeles.

Babies and dogs are welcomed, too, he added.

Only half of the 2,400-square-foot property will be devoted to retail, he said. The other half will be for hanging out, with a lot of indoor and outdoor seating and a tree house in the back for private meetings or for customers just looking for quiet time to themselves. "It's really meant to create an environment like you're visiting someone's house than a retail store," he said.

Products from Daily Juice, Better Bikes Bakery, Kosmic Kombucha and Greenling organic fruit supplies will be sold, "so it feels like this really is an Austin business," he said.

Mycoskie plans to aggressively open more stand-alone stores across the country, including in Houston, Dallas and San Antonio, which he said are some of the best markets for TOMS products. But he won't do it without finding the right location, just as he did in Austin.

"It's more about having the perfect space. I'm not going to rush it," he said, adding that he welcomes suggestions for the ideal location for a community-based TOMS store in Houston.

One for One

Mycoskie, a Texas-native who grew up in Arlington, graduated from St. Stephens Episcopal School in Austin and spent two years at Southern Methodist University before dropping out to start his first business, founded TOMS in 2006 after a trip to Argentina. He volunteered with a local nonprofit to deliver used shoes to needy children and came upon the idea to sell an updated version of the alpargata (a shoe made of canvas or cotton fabric and a sole of rope or rubber material) and donate shoes on a "One for One" business model.

The idea was an immediate hit and since then TOMS has donated more than 10 million shoes around the world. Mycoskie has also expanded the product line to appeal to men, with a popular series of brogues and other manly styles, and produced limited edition collections to benefit Ben Affleck’s Eastern Congo Initiative and Charlize Theron’s Africa Outreach Project.

"We're saying that with this new product, we are going to be asking people to change one decision they have made in their life."

For spring, the privately-held company collaborated with home furnishings designer Jonathan Adler on a collection of colorful unisex styles.

In 2011, TOMS Eyewear was launched; for every pair of glasses sold, people in need receive prescription glasses, sight-saving surgery or medical treatment. The Austin store will feature a wide array of glasses for sale in addition to shoes.

Mycoskie's Austin ties run deep. He decided to take a sabbatical in 2012, so he gave up day-to-day control of the business and moved to Austin. He got married and enjoyed the good life. "I spent a lot of time at the lake and playing golf and hanging out with friends and not working so much. But I recognized that while all those things are good, they're good in small doses for me. I need to be actively working in building something."

He and his wife began commuting to Los Angeles last summer and moved there permanently in November, so he could be close to the business, although he said they make regular visits to Austin and he's excited to have a place to hang out when the store opens.

On his next trip to Austin for SXSW Interactive, the 37-year-old entrepreneur plans to reveal TOMS' latest top-secret endeavor (at exactly 3 pm on March 11). He is tightlipped about the new product, referring a questioner to the company's Instagram and Twitter pages, where a campaign called #Onedecision is underway.

"We're saying that with this new product, we are going to be asking people to change one decision they have made in their life. By changing this one decision, which can seem like a simple decision, it can have a big impact on people," he said. "It's a little bit different from what we've done in the past. There's a lot of speculation about what decision we're asking people to change will be ... [but] I think it has the most impact in the fastest amount of time. And I think a lot more people will participate in this than even our shoes or eyewear."

The new TOMS store in Austin will have outdoor seating and a treehouse.

TOMS rendering of Give mural on side of store
Rendering courtesy of TOMS
The new TOMS store in Austin will have outdoor seating and a treehouse.
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news/real-estate
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THE AMERICAN DREAM

How long it takes to save for a home down payment in Houston

Brandon Watson
Dec 30, 2025 | 12:30 pm
Home for sale sold sign
iStock
Houstonians don't have to save long to afford a down payment.

Saving for a down payment remains one of the biggest barriers to homeownership nationwide, but a new report from Realtor.com shows San Antonio area buyers face a far shorter wait than most Americans.

According to the real estate site’s 2025 analysis, the typical U.S. household needs seven years to save for a standard down payment, a notable improvement from the 12-year peak in 2022. Still, the timeline remains roughly double the pre-pandemic norm, reflecting higher home prices, larger down payments, and lower household savings rates.

Houston, however, stood out as one of the most accessible major metros in the nation. The Houston-Pasadena-The Woodlands metro boasted one of the shortest time sto save for a down payment among the nation’s 50 largest markets, with households needing just 3.5 years to reach a typical down payment, according to the study.

The report found that Houston’s median down payment from January through November was $14,927. A median household income of $83,452 was estimated to produce an annual savings of $4,228. Notably, San Antonio, the only other Texas city included in the report, had the shortest time to save for a down payment at just 1.3 years.

Nationally, the time needed to save has shortened as home price growth cooled and affordability modestly improved. Still, saving for a down payment takes significantly longer than it did before the pandemic.

“Higher home prices and intensified competition have pushed typical down payments higher, at the same time that inflation and rising household expenses have reduced savings rates,” said Danielle Hale, chief economist at Realtor.com, in a release. “Although conditions have improved since 2022, today’s timeline shows that saving for a home takes meaningfully longer than it did before the pandemic, especially in high-cost markets.”

Lower savings rates have played a key role. The U.S. personal savings rate has averaged 5.1 percent of income so far in 2025, down from the pre-pandemic norm of 6.5 percent, limiting how quickly households can build funds for upfront housing costs. Meanwhile, the typical down payment has more than doubled over the past six years — rising from about $13,900 in the third quarter of 2019 to $30,400 in the third quarter of 2025.

In high-cost coastal metros, the impact is far more severe. Saving for a down payment can take 20 to more than 35 years in California cities like San Francisco, San Jose, Los Angeles, and San Diego, effectively sidelining many first-time and moderate-income buyers.

“In high-cost markets, the typical down payment alone exceeds a full year of household income,” said Hannah Jones, Realtor.com senior economic research analyst. “That reality makes homeownership feel unattainable for many buyers, particularly younger households trying to enter the market for the first time.”

Despite those challenges, the report notes that roughly three-quarters of Americans still consider homeownership part of the American dream. Realtor.com says easing rents could help first-time buyers save more, while repeat buyers may use accumulated savings to reduce loan balances and manage higher monthly payments.

“Saving consistently, even in small amounts, is a meaningful first step toward homeownership,” Jones said. “In today’s market, building that financial cushion can make a real difference when buyers are ready to act.”

home market economy down payments home ownership real estate
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