News & Articles : Houston Business Journal

New shopping center for Richmond

Posted on June 09, 2014 in

By Jenny Aldridge

A rapidly expanding suburb is set to get a new shopping center.  Excel Commercial Real Estate is developing an inline retail center, Longmeadow Farms, located on the Grand Parkway and West Belfort Street, adjacent to the Palladium Theater, in Richmond, a growing suburb between Katy and Sugar Land.

The building, which will house eight to 10 tenants, is currently under construction with a completion date slated for August. Felix Zamikovsky with New Regional Planning, who is overseeing the leasing of the facility, said the space is 70 percent leased, but would not comment on who the tenants will be.

Identity Architects designed the project and Arch-Con Construction is the general contractor. Arch-Con is also building the new Fiesta Mart in Katy that is slated to open in November.  Richmond has been quietly growing in terms of retail. Gallery Furniture will open its third Houston-area store in Richmond next to the Palladium Theater . The 140,000-square-foot store — Gallery’s largest yet — is slated to open in December. And H-E-B Houston division president Scott McClelland recently told the Houston Business Journal that he is investigating opportunities to expand in Richmond.


Landry’s expands Golden Nugget brand with Louisiana casino

Posted on July 26, 2013 in

By Shaina Zucker
Houston Business Journal

Tilman Fertitta, owner and CEO of Houston-based Landry’s Inc., is adding another property to his Golden Nugget Casinos brand.  Fertitta announced Thursday plans to acquire a casino in Lake Charles, La., from Las Vegas-based Pinnacle Entertainment Inc. (NYSE: PNK). Golden Nugget will invest $600 million in the project, which is currently under construction and expected to open next year.

The casino, which is on a 242-acre site next door to Pinnacle’s L’Auberge Lake Charles Casino Resort, will be rebranded as the Golden Nugget Hotel and Casino. The deal, which is expected to close by the end of the year, helps satisfy requirements related to Pinnacle’s acquisition of Nevada-based Ameristar Casinos Inc. (Nasdaq: ASCA), which is expected to close in August.  As part of the deal, which includes a $37 million credit to Golden Nugget, Fertitta’s company will pay for all of the project’s development costs up until the closing date of the sale and assume all of the outstanding costs owed on it at that point, Las Vegas Review-Journal reports. Ameristar had invested $213.9 million in the project through June 30, Pinnacle said in a Thursday statement.

The Lake Charles facility, which is about two hours from Houston, will have almost 800 rooms, a golf course, spa, boutiques and restaurants including Vic & Anthony’s Steakhouse and Grotto Italian Ristorante. The casino will feature more than 60 table games, a poker room and 1,600 new slot machines.  “I could not pass up the opportunity to build and operate a casino next door to my hometown,” Fertitta said in a Thursday statement, adding the company plans to “draw from our large South Texas and Louisiana customer base to drive business to our new resort.”