PRIME PROPERTY Makeover on Market Street
The outdoor lifestyle center in The Woodlands will be renovated in time for the holiday shopping season.
Market Street in The Woodlands is getting a makeover.
The grass in the Central Park green space will be replaced with synthetic turf, and the amount of outdoor seating will triple. There will be new pergolas and sculptures as well as updated landscaping, street and parking lights and signage with a new Market Street logo.
This is the first major
“Just like everything has its shelf life, it was time for us to make some changes.” Jenny Taylor, Market Street
renovation to Market Street since the outdoor lifestyle center opened in 2004. Work is expected to start this summer and be completed before the holiday shopping season.
“Just like everything has its shelf life, it was time for us to make some changes,” Market Street general manager Jenny Taylor said.
Retail property owners are increasingly offering “lifestyle” experiences inside malls and shopping centers to attract consumers flocking to online shopping.
Many mall owners are devoting more space to food and entertainment concepts that can’t be replicated by e-commerce to drive food traffic.
“In this day and age, online competition is what every brick-and-mortar competes against although sometimes they complement each other,” Taylor said. “We really focused on our Central Park area, which is the main gathering location on the property. We wanted to create a more interesting environment and experience for our customers.”
Market Street recently introduced several new stores and restaurants, including Tory Burch, Suitsupply, J. McLaughlin and True Food Kitchen. The mixed-use center plans to announce several more stores in the coming months.
Market Street is owned by a joint venture between an affiliate of Trademark Property Co. and Institutional Mall Investors, which refinanced the property last year. Fort Worthbased Trademark manages the 560,000-square-foot property, which features 80 stores; a 375,000square-foot H-E-B supermarket; 115,000-squarefeet of Class A office space; a 70-room Hyatt Centric hotel; five-screen movie theater and 21 restaurants.