Houston, TX- April 27, 2006--Greenspoint Mall announces plans for a mall-wide
renovation.
An
agreement has been reached with Greenspoint Mall and the Greater Greenspoint Tax
Increment Reinvestment Zone (TIRZ) to begin a $32 million re-development of the
center, which is owned by a group whose principal is Mr. Bob Yari, producer of
the Academy Award winning movie, “Crash.”
Public dollars from the
TIRZ will fund converting 15 acres into public plazas interspersed with lush
water features, public art, an outdoor stage for free performances, pocket park
seating areas and pedestrian walkways leading from Greenspoint Drive to the
mall. The TIRZ renovation area will be named The Renaissance.
Triyar
Cannon Group, the mall owner, will construct restaurant pads around the water
features, add new exterior facades and interior flooring, and launch an
aggressive campaign to attract new retailers, including a movie
theatre.
Initial construction and groundbreaking, including the
demolition of some of the current anchor spaces, is scheduled to begin in
2007. The mall was originally constructed in 1976.
