History PlazAmericas

1 history

1.1 beginnings , prime years (1961–1990s)
1.2 decline (1990s–2000s)
1.3 renaming plazamericas (2010–present)

history

beginnings , prime years (1961–1990s)

the mall opened sharpstown mall, on september 14, 1961, mere days after hurricane carla affected houston, future united states senator ted kennedy appearing during opening ceremony main speaker. 1970 houston chronicle article stated frank sharp decided not delay opening; therefore morale of houstonians increased. not surprisingly, first day of business brought 8,000 shoppers (a number affected hurricane).

at time of opening, mall consisted of 43 stores on 1 level including first suburban branch of houston-based foley s department store chain, first suburban locations of houston trunk factory, battelstein s , florsheim shoes. in addition foley s, montgomery ward opened anchor, along sharpstown state bank—later shuttered in wake of sharpstown scandal involved sharpstown developer frank sharp , many members of texas legislature. former bank building later become home jewelry exchange center, 3 motor bank drive-throughs in middle of front parking lot present-day reminder of former bank.

early on, transportation concerns became threat mall s success, , consequently frank sharp decided donate 300 ft (91 m) wide strip of land build southwest freeway (interstate 69/u.s. route 59) through development. because houston s first air conditioned mall—a luxury given houston s historically unpredictable weather, many houston residents residing in central part of city wanted experience mall of future , hence traffic concerns. unique aspect of mall within corridors clock of texas diorama, animated @ history of texas through centuries. sharp place time capsule in cornerstone of mall.

when sharpstown mall opened, located on edge of houston s southwest suburbs. houston area grew rapidly on next 3 decades, houston becoming nation s fourth-largest city, numerous other developments throughout southwest houston began emerge. these developments included countless new apartment complexes home young professionals in houston s energy industry, residential developments far south missouri city, construction of houston baptist university, memorial hermann southwest hospital, numerous car dealerships, , new studio complex city s nbc television affiliate, kprc-tv , sister radio station kprc-am. 1970, sharpstown mall had 57 stores , leased.

the 1970s saw opening of galleria , westwood mall, became sharpstown s 2 strongest competitors on next 2 decades. while galleria unique in strong focus on upscale retailers such neiman marcus, westwood more direct competitor sharpstown anchor stores joske s , sears, complemented sharpstown s aforementioned anchors, , closer location rapidly growing fort bend county, home growing base of upper-middle class suburban shoppers. in 1981, twenty years after mall opened, second floor added (effectively doubling mall s store count on 100) , mall extensively renovated original 1950s appearance better compete westwood mall , galleria. in addition opening of third anchor in jcpenney, food court added in former battelstein s department store.

by february 1989, sharpstown mall 97% occupied, making mall highest percentage of occupied space in houston area. in 1993, mall underwent $50 million renovation, largest addition being new ten-screen cineplex odeon movie theater. mall re-branded sharpstown center, , referred such until reverting original name in 2008. renovations deterred foley s leaving nearby westwood mall, prior renovation courting department store third anchor following own renovation in 1988. during time, sharpstown mall had compete west oaks mall customers out of fort bend county.

decline (1990s–2000s)

sharpstown center in 2006

ralph bivins , greg hassell of houston chronicle said mall s decline began in late 1980s. mall s decline began many of nearby apartment complexes, once dominated young professionals , single adults, became notorious residential arrangements hispanic illegal immigrants houston , low-income dwellers, in turn resulted in increase in criminal activity. sam wisialowski, president of y alls texas store chain, stated sales declining annually 25 30 percent @ sharpstown store when chain decided close said store in 1990. while sharpstown managed gain shoppers after addition of cineplex odeon movie theater, sharpstown suffer significant blow within decade.

in 1996, first colony mall opened in suburb of sugar land, resulted in sharpstown losing many of national retailers , core customer base in fort bend county had long been critical mall s survival. tom estus, shopping center broker of shelby/estus realty group, said s classic case of being passed newer, better malls. first colony clipped hardest. other places more exciting shop in. new. easier in , out of. first colony seal fate of westwood mall, closed in 1997 , converted technology-focused office center, , impact west oaks mall well. finally, sharpstown had compete redeveloped meyerland plaza, remodeled jcpenney location serve anchor reborn shopping center. aforementioned crime issues continued take toll on sharpstown center, crime rate in area surrounding mall increased in late 1990s , 2000s due white flight , urban decay.

consequently, customers within surrounding area deterred, , major retailers desired low crime, middle class, , wealthy area profitable support began leave. oshman s sporting goods closed store in 1997, around same time opened store in nearby suburb of stafford serve sugar land area once frequented sharpstown retail business. in 1998, jcpenney close store @ sharpstown, having lost of clientele first colony store, of remaining business going meyerland plaza store. in addition loss of businesses , customers sugar land area, further compounded many big box retailers opening new locations in , around said area, such aforementioned big box stores discounters including walmart , target have grown on loyalties of customers used frequent shopping malls. shopping center developer ed wulfe, wulfe & co. redeveloped meyerland plaza gulfgate mall, said loss of major tenants negatively affected sharpstown mall.

as 2000 dawned, new york investment group named sharpstown center associates owned mall. 2001, mall seized in foreclosure, , travelers insurance took ownership of mall, jcpenney anchor space remained vacant when announced montgomery ward close locations, including sharpstown store, part of liquidation process. loss of montgomery ward leave foley s mall s remaining anchor tenant, if not remaining original tenant mall s 1961 opening. burlington coat factory move adjacent shopping center fill former montgomery ward space.

in 2006 houston press alternative weekly newspaper awarded sharpstown mall best hip-hop mall, , sharpstown began bill houston s premiere urban mall on website. may 2007, sharpstown 75% occupied, local tenants dominated mall s retail base. further cementing status amongst newfound urban clientele, on october 20, 2007, local hip hop radio station kpty, owned univision (whose studio complex located near galleria), opened broadcast studio called studio 104.9 station broadcast on regular basis.

on december 28, 2007, macy s announced close location in sharpstown, last remaining original anchor mall s 1961 opening. after conclusion of liquidation sale on march 15, 2008, employees moved other macy s stores. mere days after macy s announcement, on january 9, 2008, finger furniture announced closing sharpstown location. january 11, 2008, sharpstown operating under chapter 11 bankruptcy protection , sale. owner of mall, urban mall houston, on $53 million in debt.

renaming plazamericas (2010–present)

in 2009, mall under ownership of philadelphia-based rait financial trust, manager of mall s interior core, boxer property, announced mall renamed plazamericas. chris chumley, spokesperson plazamericas, stated knows story mall knows s been distressed number of years. chumley stated mall cater hispanic population (which constituted 52% of population of mall s three-mile trade area), undergo $10 million renovation boost appeal hispanic shoppers, , have 350 stores time renovations completed. property include 83,000 square feet (7,700 m) mercado (marketplace) have many smaller businesses, large family lounge, live entertainment stages, , children s play area. redevelopment plazamericas expected create 500 jobs. signs indicating renaming appeared january 29, 2010.