A new retail study, by Urban Marketing Collaborative, shows that downtown Houston will need a lot more retail space and occupants now and in the years ahead.

The study reports the following:

Based on Urban Marketing Collaborative's assessment of retail demand from residents, workers, and visitors for retail merchandise and eating and drinking, Downtown Houston has the potential to attract retail sales totaling $703 million in 2001. Over half, $388 million, will be for eating and drinking sales, and the remaining $315 million will be for GAFO (general merchandise, apparel, furnishings, and other merchandise) sales. Given these sales levels, Downtown Houston can support almost 2.1 million square feet of retail and eating and drinking space. Accounting for current occupancy levels there is unmet demand for 527,694 square feet of retail space in 2001.

By 2005, when many of the projects will have been completed, Downtown Houston will be a different place. Daytime and nighttime activity will have pedestrian traffic along the major streets from 12 to 18 hours during the day. Increasing the visitation levels by 14 million from 78 million to 92 million will increase the potential for retail and eating and drinking sales to $856 million, a 22% increase over 2001.The majority, 57%, of the total sales potential will be for eating and drinking. Accounting for occupied retail space and space under construction, by 2005 there will be unmet demand for over 776,034 square feet of retail.

The full report (84-page document dated 10/01) is provided here in Adobe Acrobat format.  Note that the file size is 3.75 mb, so it may take a few minutes to download.

Retail Demand Study