DALLAS — The Houston Galleria is about to get a major upgrade.
Owner Simon Property Group is investing $250 million to give two wings a modern look and to erect a bigger Saks Fifth Avenue, according to Rick Sokolov, president and chief operating officer.
Anchored by Neiman Marcus, Saks, Nordstrom and Macy’s, the Galleria features about 400 stores in 1.9 million square feet and generates more than $1 billion in annual sales. It attracts 30 million visitors a year, about a third of them tourists, Sokolov said.
The renovation of the Neiman’s and Saks wings was prompted by the center’s growing roster of designer tenants, he explained. The River Oaks District luxury shopping center opening this fall just across the interstate freeway might have provided some motivation, too.
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Opening at the Galleria this year are The Webster, La Perla, Tod’s, Tourbillon, John Varvatos, Trina Turk and Hublot, Sokolov noted.
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“We have renewed commitments from a number of our other major designer tenants like Chanel, Gucci, Bulgari, Versace, [Carolina] Herrera, [David] Yurman and Tory Burch,” Sokolov pointed out, “and we felt we could make our physical plan even better to reflect the quality of the tenants.”
The new look in the common areas of Galleria I and II will feature white marble and black granite floors, new lighting, landscaping, soft seating and rugs.
“It will be a transformed environment,” Sokolov said.
Simon also plans to improve the food court with fresh tile, furnishings and a better layout and to upgrade escalators and elevators. Construction will begin this year, break for the holiday season and conclude in 2016.
In addition, after Saks moves into its new 200,000-square-foot building in spring 2016, its current 110,000 feet will be converted to 35 or 40 luxury stores and restaurants within a year, Sokolov noted.
“I would expect that with all the new retailers, we are going to add anywhere from a couple hundred million in sales,” he said.
As noted separately, The Webster will occupy part of a contemporary glass building under construction on Westheimer Road. The 14,000-square-foot structure tagged the “jewel box” will also house a restaurant and connect to the mall.
“The new Galleria project will be one of a kind with a very unique level of luxury dedicated to service and on par with our own standards,” commented Laure Hériard-Dubreuil, cofounder and chief executive officer of the Webster. “We have observed the growing market in Houston, [and] there is a demand for more and more curated fashion pieces.…We will also be reaching international clients from Asia and the Middle East that might not come to Miami.”