Reinvestment in retail From the cover
The overview
Qualified multitenant centers
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The Sugar Land 4B Corp. allocated $500,000 in its fiscal year 2024-25 budget toward the Commercial Revitalization Grant Program’s pilot year. Huble said the projects must accomplish two or more development outcomes, including improving: • Facades and exteriors • Amenities and open space
Built 1970-79 Built 1980-89 Built 1990-99 Built 2000-09
Sugar Land
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5.56M Total gross leasable square footage in qualified retail centers
• Pedestrian areas and parking lots • Commercial awnings and signage • Public art such as murals • Public right of way or infrastructure
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6
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NGTON BLVD.
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99 TOLL
The centers also must have at least 20,000 square feet of gross leasable space. If approved, eligible properties can receive up to a 20% reimbursement of the project cost. Data from CoStar, a commercial real estate information company, showed only 12 of the city’s 441 commercial retail properties have had a major renovation since being built. “By strategically redeveloping and investing in the commercial centers and public spaces, Sugar Land can not only maintain our high quality of life but also create a more vibrant, attractive and sustainable community that will continue to thrive for years to come,” Huble said.
1995 Median build year of qualified centers
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59
COMMONWEALTH BLVD.
2.38M Square footage of First Colony Mall, the largest qualified retail center SOURCE: CITY OF SUGAR LAND/ COMMUNITY IMPACT
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MAP NOT TO SCALE
Digging in
Improvements in Town Square coming in early 2025 will address the area’s office landscape. Although these changes won’t be funded by the grant, Paterson said Rebees will look to identify other improvements that could.
“It’s helped to draw new tenants to the project and even tenants who were already in the project, reinvested in their storefronts,” he said. “Their business has improved. Their sales have improved.”
Since 2019, Sugar Land Town Square has seen improvements including modernizing building facades, improving signage and replacing store- fronts since Rebees Management Co. took over the property, Managing Partner Tom Paterson said.
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COMMUNITYIMPACT.COM
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