Twenty Years of Mixed-use Success at Market Street

An early adopter of New Urbanist principles continues to embrace strategies for place-making.

Twenty years ago, the standard for a successful retail real estate development was a traditional enclosed mall or a strip center with a sea of parking. For decades, these development formats were rinse and repeat, as they worked especially well in the suburbs, where many Americans were buying homes and driving was the primary mode of transportation.

When Market Street opened in 2004 in The Woodlands, Texas, a master-planned community north of Houston, it was one of the first developments of its kind to buck this trend. Instead of applying the typical suburban approach to retail, Trademark Property Company designed Market Street to follow New Urbanist principles, which prioritize walkable, human-scale development. As a grocery-anchored mixed-use community featuring high-quality, street-level retail, Market Street was breaking the mold.

More than two decades on, it is clear this commitment to a pedestrian-focused, mixed-use plan has contributed to Market Street’s resilience. The approach has enabled the development to consistently attract quality tenants, command top-of-the-market rents and serve as a vibrant open-air town center for The Woodlands community.

Market Street currently features 375,000 square feet of street-level retail, 115,000 square feet of Class A office space, 15 restaurants and a 70-room, 70,000-square-foot Hyatt Centric hotel. Despite constant evolutions in the retail sector, Market Street continues to hold up with a strong place-making and merchandising strategy that powers its success.

From the Beginning

Trademark was introduced to The Woodlands in 2000 through a long-standing personal relationship between Tony Chron, a senior Trademark leader, and a member of The Woodlands Development Company team. After years of informal conversations, Trademark was invited to make an offer on the land after The Woodlands tried to plan and develop it but changed course to create some liquidity. While Trademark had incorporated place-making, public art and grocery-anchored centers into projects before, Market Street represented its first fully integrated mixed-use town center. The opportunity appealed not just because of the project’s location and scale, but because it aligned with Trademark’s growing conviction that walkable, mixed-use developments were the future of suburban retail.

Initially, public officials and industry peers expressed concerns that Market Street’s open-air, pedestrian-first format strayed too far from the traditional enclosed mall or strip center model, especially in a suburban market. Many questioned whether placing parking behind buildings, allocating valuable space to a central green and integrating multiple uses would work. To address these concerns, Trademark leaned into data, precedent and vision, showing how the design would enhance community life. Ultimately, Trademark advanced the project through a public-private partnership with The Woodlands Town Center Improvement District and a design that reflected urban planning principles that had proved successful in great cities around the world.

Executing the Mixed-Use Approach

To shape the retail strategy at Market Street, Trademark studied the country’s few successful preexisting urban mixed-use developments, such as Easton Town Center in Columbus, Ohio; Kierland Commons in Scottsdale, Arizona; and Southlake Town Square in Dallas-Fort Worth, as well as numerous authentic, walkable urban town centers. As this was still a relatively new concept and Trademark’s first mixed-use development, research was a critical part of the process. Trademark was an early adopter, applying best practices from pioneers in mixed-use space and real cities to shape the Market Street experience.

As part of the process, Trademark carefully studied the size and function of public spaces, walked down various streets and attended industry conferences to better understand the elements that lead to successful mixed-use projects. Interactions with Andres Duany, the father of New Urbanism, proved incredibly illuminating, as his feedback reinforced the importance of scale, connectivity and the sequencing of public space — factors that can make or break a pedestrian experience. He challenged Trademark to think beyond aesthetics and prioritize how people would actually move through and interact with the environment day to day. That influenced everything from street width to placement of seating and shade.

One of the development’s central goals was to ensure that guests were in an environment they loved. Through the course of conducting research and engaging in active listening to understand the wants and needs of the community, walkability and street-level vibrancy emerged as top priorities.

Working with the Development Design Group, a third-party architectural partner, Trademark devised a plan that went against the grain of what was typical for that time. Rather than placing parking in front of the stores, the team prioritized walkability by designing Market Street with on-street parallel parking to mimic a true main street experience. Larger surface lots and structured parking were intentionally located behind the buildings to keep the pedestrian environment active and inviting. Likewise, instead of filling every square inch of the site with buildings or parking, space in the property’s center was dedicated to a central green (Central Park) for people to gather with friends and family.

While the project was overwhelmingly retail-focused at the outset, the shifting dynamics of the fast-growing Woodlands community eventually supported additional office space and the introduction of a hotel. Today, Market Street is 67% retail, 20% office and 13% hospitality.

The Art of Place-Making

Another essential aspect of the development was the incorporation of public art and cut-above building design. Community members can feel the difference when an investment in beauty is made in the spaces in which they spend their time. This commitment to artistry and architecture helped to create a distinct sense of place for Market Street.

Creating an emotional connection between guests and the property is one of the key ingredients for strong place-making. By engaging with residents and listening to their wants and needs, Market Street has become the heart and soul of The Woodlands, reflecting the growing trend of place-making in modern developments. Market Street hosts regular community events, including seasonal programming, art installations and pop-up activations, to keep the experience dynamic. Additionally, Trademark monitors tenant mix, performance and guest feedback to make informed updates that keep the property evolving with the community’s needs.

Over Market Street’s 20 years, Trademark has added elements such as Central Park, pop fountains, public art, valet parking and a concierge service to create an environment where people feel well served and cared about. The community actively engages with the public art, capturing memorable photos and interacting with various sculptures. For example, the bronze donkey sculpture, “Primrose,” a $15,000 investment installed in 2004, now has a hollowed-out back, while its gold is worn smooth over time by countless children posing for photos.

Developing a Strong Tenant Mix

Curating the right tenant mix is key to appealing to a broad range of consumers and creating a place that seamlessly integrates into the community. Trademark’s approach for Market Street blends a mix of luxury, gourmet grocery, essential services, office space and hospitality, all designed with a strong sense of scale and attention to detail. These offerings not only create a welcoming environment but also drive strong productivity from a sales perspective.

Today, Market Street tenants generate annual sales exceeding $300 million. Notably, tenants with spaces under 10,000 square feet, roughly 65% of Market Street’s total tenant space, generate more than $1,000 per square foot in sales. The property features brands such as Tiffany & Co., Louis Vuitton, Yves Saint Laurent, Gucci, Jo Malone and Lululemon as well as restaurants including Sixty Vines, True Food Kitchen, Mastro’s Ocean Club, Bosscat and Sweet Paris. Last year, Market Street welcomed Golden Goose, Oliver Peoples, YETI, Hugo Boss and Alo to the community and opened new and improved spaces for LUSH, J.Crew, TUMI and Thomas Markle.

“As the community evolved into a trade area with more employees and office workers than households, Market Street has evolved alongside it,” said Tommy Miller, managing director at Trademark. “Every step of the way, as The Woodlands became more affluent, diverse and sustainable, with a large daytime workforce, Market Street has continued to adapt and grow.” 

Terry Montesi is the CEO and founder of Trademark Property Company.

• Magazine Article
• Development/Ownership
• Hospitality
• Mixed Use
• Office
• Retail