Missouri City’s Township Square has seen an increase of new businesses during the past six months.[/caption]Missouri City’s oldest retail center, Township Square, has experienced a surge of new businesses leasing its empty space as a result of new residential and commercial developments that continue to sprout along Hwy. 6.
As new businesses and residents flock to the neighborhoods of Quail Valley, Sienna Plantation and Lake Olympia, new retail and restaurant options have moved into Township Square, located at 3340 FM 1092, resulting in a revitalization of the aging retail center.
Peggy Rougeou, director of commercial leasing at Tarantino Properties—the leasing and management company overseeing Township Square—said the retail center is regaining commercial traffic because of its location within Quail Valley.
Rougeou said the Quail Valley neighborhood has diverse demographics that include senior citizens, new families and recent college graduates. She said new businesses, such as Vino & Vinyl and Brandani’s Restaurant & Wine Bar, are intended to appeal to every demographic within the area.
“The reason why we try to mix it up is because businesses bring in a different age level in our [customer] demographics,” she said.
Joe Esch, director of economic development for Missouri City, said Township Square’s economic success is a reflection of citywide growth. Esch said the residential developments along Hwy. 6 have generated interest over the past eight years from new businesses and franchises in the city.
Esch also said the various expansions of the city’s infrastructure have set up Township Square for future economic success.
“The city is continuing to invest in infrastructure and doing what it can to drive a positive environment,” he said. “As traffic has increased, as improvements to FM 1092 [have finished] and as you’ve seen Hwy. 6 continue to fill out, that has helped [Township Square] grow.”
Revitalization
After Tarantino Properties began managing the retail center in March, Township Square has experienced a 20 percent increase in its occupancy rate, Rougeou said. She said she expects to see the retail center at full capacity by December 2016.
Smack Guitars Owner Steve Eller has operated his business in the retail center for the last three years. He said the center continues to attract businesses due to its unique, old-school look.
“It looks different from all of the cookie cutter stuff that you see up and down Hwy. 6 and I like that,” he said. “I think that is what will bring more people here.”
As Township Square continues to attract additional businesses and shoppers, Rougeou said Tarantino Properties is slated to modernize the center with new landscaping, signage and additional beautification projects.
“When you have more of a community atmosphere it helps everything. It helps the residents, it helps the doctors and it helps the restaurants [and businesses],” she said.
Citywide benefits
Esch said Township Square’s economic success has helped drive an increase in property and sales tax revenue for the city. He also said the retail center’s recent growth has strengthened the economic environment along FM 1092 and Hwy. 6.
“Any time you have a full retail center that is being utilized and you have investments being made by the ownership, it is a positive because that demonstrates a strong marketplace,” he said.
Although Missouri City does not have a strategic plan for retail centers, Esch said the city is continuing to improve the city’s road infrastructure to accommodate increased traffic and allow additional businesses and retail centers to open.
“What you see is a city that is committed toward positive business development, so we’ve invested in infrastructure around the area,” he said. “We’ve worked with our permitting department to ensure someone who comes here for business can move forward quickly and effectively to open their business.”
