Pioneering Texas town center celebrates its 20th anniversary
Some 50 years ago, Texas oilman George Mitchell bought 44 square miles of empty land outside of Houston and became one of the first developers to take advantage of the HUD Title VII program that provided federal support for building new towns. That once bare 44 square miles is now The Woodlands, a master-planned community inhabited by 120,000 high-income residents.
And it was 20 years ago that Terry Montesi and his Trademark Property Company arrived in The Woodlands to help introduce a new style of retail real estate — Market Street-The Woodlands, a walkable, suburban town center that blends shopping, dining, and entertainment with best-in-class office and hotel spaces.
“Market Street was one of the first three or four ground-up, mixed-use town centers in the country,” said Montesi. “We were pioneering a new mixed-use format, applying best practices from studying great multi-use districts across the world.”
The 400,000-sq.-ft. center features a mix of premier, first-to-market brands, 15 restaurants, a luxury cinema, and a high-end, one-of-a-kind H-E-B grocery store.
Trademark claims that Market Street’s tenants generate some of the highest sales per sq. ft. of any suburban retail asset in the country. Among them are Tiffany & Co., Louis Vuitton, Yves Saint Laurent, Gucci, Jo Malone, and Lululemon.
Food and beverage brands are varied and plentiful. The lineup features Sixty Vines, True Food Kitchen, Mastro’s Ocean Club, Bosscat, and Sweet Paris.
Tenants border the newly redesigned Central Park, which hosts a full schedule of events such as the Spring and Fall Concert Series, the Spring Fine Arts Show, the Market Street in Lights Tree Lighting Celebration, and the South Montgomery County 4th of July Parade.
“Really great mixed-use town centers give the surrounding community a sense of ownership,” said Montesi. “If you listen to the community, find out what it needs, and provide an experience that exceeds expectations and is always evolving, the project will become the heart and soul of the region, just as Market Street has done for The Woodlands.”
