WITH its high concentration of daytime employment, growing residential base, expanding convention business and strong destination driven visitations, downtown Houston offers a retail environment with great potential for growth. Dining and nightlife remains the single biggest occupier of downtown retail space, but the growing residential population also creates a high demand for the day-to-day convenience goods and retail merchandise.
Downtown Houston is bounded by three major freeways: I-10 on the north, U.S. 59 on the east and I-45 on the south and west.
Downtown Retail Task Force Report, Sept 12, 2013 [pdf]
2013 Downtown Retail Market Overview
2011 Downtown Mixed-Use Retail Core Plan [pdf]
Downtown Retail Analysis [pdf]
2013 Downtown Shopping Survey [pdf]
|City populaton||2.3 million|
|Regional population||5.6 million|
|Average household income*||$68,400|
|Median housing value*||$138,000|
|Total visitors to downtown per year||18.3 million|
|Entertainment venues||5.2 million|
|Discovery Green||1 million|
|Minute Maid Park & Toyota Center||4.3 million|
|Major special events||2.1 million|
|GRB Convention Center||1 million|
|Other visitors (court, churches, offices)||4.7 million|
|Number of hotels||15|
|Number of hotel rooms||4,772|
|Ave. hotel occupancy rate||68%|
|Ave. nightly hotel rate||$158|
U of H Downtown, South Texas College of Law
Rice, St. Thomas, HCC Main, U of H Central, TSU
|Total parking spaces downtown||102,000|
|Metered spaces in downtown||2,500|
|Surface parking lot spaces||24,000|
|Garage parking spaces||75,000|
|Total bus routes through downtown||81|
|Daily local routes||53|
|Weekday park & ride||28|
|METRORail daily ridership||45,000|
Five days a week, more than 140,000 workers call downtown home. Office workers are a powerful source of consumer spending before, during and after work.
According to a study by the International Council of Shopping Centers (ICSC):
- 50% of downtown office workers eat out at least 4 out of 5 days.
- The office worker spends an average of $134 per week on meals and consumer goods.
- 32% of workers polled reported shopping during their lunch hour.
|Area||Total Buildings||Net Rentable Area (SF)||Vacancy||Average Rate|
|Energy Corridor||166||15.95 million||6.2%||$23.52|