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    Big Real Estate Deal

    Premium outlet mall appears headed to prime Southwest Freeway location in major real estate deal

    Ralph Bivins
    Oct 30, 2014 | 2:49 pm

    Good news for outlet mall fanatics.

    One of the biggest parcels of available land on the Southwest Freeway is being eyed by one of the world’s best outlet mall specialists — Simon Premium Outlets.

    The great bargains you get at outlet malls — they really cheaper, aren’t they? — will be easily accessible.

    For Inner Loopers, the best part of it all is this: You won’t have to go to the hinterlands to get a fix of outlet shopping. The proposed site is only a 10-minute drive from The Galleria.

    Imagine, no more endless sojourns to distant outlets in Katy, Texas City – or God forbid, San Marcos. The great bargains you get at outlet malls — they're really cheaper, aren’t they? — will be easily accessible.

    Wait! This is more than just an outlet mall story.

    This is a major real estate deal. The ingredients (with apologies to Ken Hoffman, the Houston Chronicle’s majordomo of junk food):

    The site

    The 192-acre site, with an enormous half-mile of frontage on the Southwest Freeway, has been the campus of Texas Instruments, which is vacating the property and selling it off. Located just outside Sam Houston Tollway, between Kirkwood Road and West Airport Blvd, the tract is in the hamlet of Stafford. A lot of this acreage remains vacant and some of it is used for softball fields.

    Of course, vacant land along the Southwest Freeway is a rarity, unless you want to drive out to Wharton, or something. The developer calls this site the biggest chunk of “infill” land anywhere on the Southwest Freeway – and he’s right.

    The vision

    A proposed 400,000-square-foot outlet mall is only a part of this huge development, which will be called Legacy. Other elements include 600,000 square feet of office space, 2,400 apartment units and a hotel. Legacy is supposed to be a live/work/play environment that will appeal to the Millennial generation. (All developers say that these days.)

    The walkable project will have a “public green” and the developer says many of the large oak trees on the property will be retained.

    The outlet mall

    With Simon as the proposed outlet mall operator, the Legacy project will have one of the most formidable retail center developers in the world. Simon manages The Galleria and operates Houston Premium Outlets near Fairfield on the northwest side of Houston, Katy Mills mall in west Houston, plus about 300 other retail centers in North America, Europe and Asia.

    Simon is based in Indianapolis, but don’t let that fool you. This is a world-class retail organization that has deep relationships with every major retailer. Don’t be surprised when you see this mall open with great brands like Burberry, Coach, Cole Haan, Elie Tahari, J.Crew, Kate Spade and Kenneth Cole.

    The developer

    Street Level Investments, a Dallas-based realty firm, is developing the mall. Street Level has a sister company — Edge Realty Partners, which specializes in retail center brokerage around Texas.

    For the apartments that will be built there, Street Level is bringing in JBL Partners, a well-seasoned multifamily developer from Dallas.

    Texas Instruments had been operating at this campus for decades. But in July, Texas Instruments moved out to a building on University Boulevard in Sugar Land. The tech firm still has some employees working on the old campus for a while.

    Street Level expects to close on the land purchase in early 2015 and get busy on this project, which is quite large, says developer Brian Murphy, a partner in Street Level. “We expect to start construction after the first of the year,” says Murphy.

    Then, if everything falls in place, the Southwest Freeway could have an outlet mall in a couple of years, perhaps, in time for Christmas shopping in 2016.

    Ralph Bivins, editor of Realty News Report, is a past president of the National Association of Real Estate Editors.

    The 192-acre Texas Instruments site has low-rise, campus-style buildings and lots of vacant land.

    The 192-acre Texas Instruments site has low rise campus style buildings and lots of vacant land. October 2014
      
    Photo by Ralph Bivins
    The 192-acre Texas Instruments site has low-rise, campus-style buildings and lots of vacant land.
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    Post Oak property redeveloped

    Renovated Galleria development will add 'greatest neighborhood restaurant'

    Eric Sandler
    Jun 4, 2025 | 1:08 pm
    Central Park Post Oak redevelopment rendering
    Courtesy of Midway
    The complex will add two new buildings.

    A Galleria-area office complex has announced a comprehensive series of renovations and upgrades designed to make it one of the area’s premier mixed-use destinations. Renovations are currently underway at the Post Oak Central development, which will now be known as Central Park Post Oak.

    Located at 2000 Post Oak Boulevard between Westheimer and San Felipe, Central Park Post Oak is a 17-acre parcel that consists of three high-rise office buildings with a combined 1.2 million square feet of office separated by an expansive lawn. Houston-based real estate development firm Midway, working with real estate investment firms 3Edgewood and Parkway, plans to replace that lawn with two new retail buildings and a greenspace. The changes are partially inspired by the Post Oak Boulevard redevelopment project that added more than 1,000 trees, wider sidewalks, and dedicated bus lanes to the bustling thoroughfare.

    "Our vision is to create a dynamic, walkable urban destination that honors the Boulevard’s rich history while meeting the evolving needs of Houston's Uptown District. We are crafting a lifestyle for those who work, shop, and dine here," Midway executive vice president Clayton Freels said in a statement.

    One anchor of the new retail component will be the first Houston location of The Henry, a restaurant that will occupy a newly-constructed, 7,000-square-foot, jewel box space. Part of Fox Restaurant Concepts (North Italia, Flower Child), The Henry is described as “the greatest neighborhood restaurant.” It’s open for weekday breakfast, weekend brunch, lunch, and dinner with an eclectic menu that includes sandwiches, salads, sushi, steak, seafood, and more.

    Other changes to the property include the addition of on-street parking, upgrades to the complex’s parking garages, and more new retailers and restaurants that will be announced in the coming months. The project began construction in April with plans to finish by fall 2026.

    In addition, Midway announced that TDECU will occupy 125,000 square feet in Central Park One and BBVA has leased a floor (20,000 square feet) in Central Park Two.

    Central Park Post Oak redevelopment rendering
      

    Courtesy of Midway

    The complex will add two new buildings.

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