MC Management and Development plans to renovate property east of Chimney Rock Road and along Mapleridge Street, one of the city of Bellaire’s most condensed retail areas with around 30 tenants. MAPPING THE TRIANGLE
Area being renovated Bellaire triangle
Several aspects of the proposed renovations carry di erent permit- ting requirements that will have to be approved by the city, Friedberg said, adding that he looks forward to public discussion and input. Amanda Hale—owner of Yoga Tres in the Bellaire Triangle, which opened in 2021—said developers with MC Management came by prior to the renovation announcement to solicit business owner feedback. Hale said she is excited about the potential the renovations will have to bring new life into the center. “That space has been needing it for a while, and I’m grateful they are trying to get it together,” Hale said. “I know it will help boost our busi- ness even more, allowing that whole block to look more updated.” Future outlooks Lindsey McKean, a commercial broker with Shop Companies, said interest in the open spaces at the site has been “astronomical” since the renovations were announced. “We specialize in retaining, rein- vigorating and really just trying to make this project more relevant in the Bellaire trade area,” she said. “We have had a lot of activity since the day we stepped foot on this project.” McKean said her team is target- ing more restaurant choices to go along with those already at the site, including Blood Brothers BBQ and Aya Sushi. They are also looking to bring on a few service-type users to ll voids, she said. “You’ll probably see something really cool dessert-wise that will acti- vate the green space there—some- thing for kids and families,” she said. The construction will be phased to minimize impact to tenants, McKean con rmed. Some tenants are likely to be moved as part of the process to suites that t their needs better, she said. Other tenants whose leases are up in the next two to three years may leave as a result of rent adjustments,
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BELLAIRE BLVD.
in 2022. The center features four buildings spread out over four acres and pro- viding about 70,000 square feet of space in total, according to informa- tion from MC Management. O cials tasked with leasing the site said they are hopeful the renovations will assist in lling the remaining vacant spots— which include a pair of 4,000-square- foot spaces—and that interest in the site has already seen an increase since the plans were announced. Changes in store In August, MC Management announced its partnership with Shop Companies, a Dallas-based real estate rm that will manage new leases on the Triangle property. Starting in late 2022, the Bellaire Triangle will undergo its largest structural renovation since its ini- tial development, according to Shop o cials. Among the largest changes to the shopping center is the recon gura- tion of the open-air arcade, a walk- way between the Triangle’s two largest buildings leading between Bellaire Boulevard and Bissonnet Street. The arcade will provide additional seating for diners with the goal of encouraging patrons to spend time walking around the gallery of shops, o cials said. Developers are also installing new lights to help keep the area active during the evening hours. Bellaire Mayor Andrew Friedberg said the project targets an area he and many longtime Bellaire resi- dents spent time at as children. “Like many of our residents, I’m very excited to see the center updated and upgraded, and have really been enjoying several of the new tenants that have come in recently, along with the existing ten- ants that have been part of our com- munity for years,” Friedberg said.
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Area being renovated
Occupied
Unoccupied
BELLAIRE BLVD.
CounterCommon Beerworks
Dandelion Cafe
Yoga Tres
1
2
Comerica Bank
1 An existing pathway provides some seating for patrons between two buildings. 2 An area between buildings with parking spaces and a car lane will become an open-air arcade.
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SOURCES: SHOP COMPANIES, MC MANAGEMENT AND DEVELOPMENT COMMUNITY IMPACT
but conversations on what that could look like are in the early stages, McKean said. Several properties at the Bellaire Triangle listed as of late November on LoopNet, the commercial real estate listing services company, show rental rates generally around $38-$40 per square foot per year with one smaller suite listed at $23 per square foot per year. The average asking rent for retail space in Houston’s Inner Loop was around $30.14 per square foot, according to the second quarter retail market report released by Part- ners Realty, the real estate company. Other activity in Bellaire’s
commercial area is also in the works. O cials with the Houston Method- ist Hospital System have pitched the development of a new medical o ce building that would take the place of a former Randall’s across Bissonnet Street at 5130 Bellaire Blvd., Bellaire. Architects working on the project presented some design options to the city’s Planning & Zoning Commis- sion in September that ranged from a concept that was as tall as four sto- ries at some points to a concept with two stories of medial o ce building on top of one story of parking. As the city deliberates the application, o cials said pub- lic input will be crucial in decid- ing how to move forward. Meanwhile, as the city hammers out the details at the Triangle, Fried- berg said he was excited for what the future holds. “I appreciate the Meyers’ reinvest- ment in the center and their partner- ship in continuing to advance our commercial revitalization e orts,” he said.
“LIKE MANY OF OUR RESIDENTS, I’M VERY EXCITED TO SEE THE CENTER UPDATED AND UPGRADED.” ANDREW FRIEDBERG, MAYOR, CITY OF BELLAIRE
“WE HAVE HAD A LOT OF ACTIVITY SINCE THE DAY WE STEPPED FOOT ON THIS PROJECT.” LINDSEY MCKEAN, COMMERCIAL BROKER, SHOP COMPANIES
For more information, visit communityimpact.com .
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BELLAIRE MEYERLAND WEST UNIVERSITY EDITION • DECEMBER 2022
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