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Changes for The Galleria?


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The owners of the Galleria, Simon Property Group, are studying the idea of adding a high rise residential tower to the space that is now occupied by Macy's. With the merger of May Department Stores and Federated Department Stores, the Foley's space will now likely be converted to Macy's, leaving the existing Macy's space open. The idea is still in the preliminary stages and no timetable has been set for the project, if it were to go through.

David Simon, CEO of the country's biggest mall owner, has kept speculation on the front burner over the past few months.

A week after the May/Federated merger was announced in March, Simon singled out the Galleria as a prime candidate for high-rise condos. He reportedly made the reference while discussing the company's "asset intensification" plans at a real estate conference in Florida.

The Galleria was again singled out by Simon at another conference last month, where he reportedly cited the Houston property's strong potential for a successful multifamily residential component.

Houston Business Journal: Galleria ready to mix residential with retail

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Still no announcement about the rumored residential project that will take the place vacated by Macy's, but work is underway at the former Lord & Taylor spot. Borders bookstore along with restaurants Del Frisco's Double Eagle Steak House, The Oceanaire Seafood Room, and Kona Grill will fill the space.

Houston Chronicle: Mum about Macy's space

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