Business

Demand From New Residents Accelerates Retail Construction

Houston retail development is picking up after four years in the doldrums.

Houston’s strong job growth has drawn a big influx of new residents since the recession. That’s fueling new construction of housing and office space, as builders’ access to credit improves. But construction of retail space to serve those new arrivals has been modest at best.

“Retail was left somewhat behind, not much new development, but that’s changed.”

Matthew Deal is co-owner of Houston real estate valuation firm Deal Sikes and Associates.

“We’ve seen very recently a resurgence in interest, led frankly by the grocers, for new retail development.”

Deal says development on the west side has been particularly strong — noting, among other projects, the construction of the new HEB-anchored center at the corner of San Felipe and Fountain View. He says rental rates at local shopping centers are now at their highest level in five years. 

Share

Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas delegations in the U.S. House and Senate, as well as the Texas governorship, the state legislature, and county and city governments. Before taking up his current post, Andrew...

More Information