FOR UP TO DATE REAL ESTATE INFO, PLEASE VISIT

WWW.ROBERTMBRAGG.COM

WWW.ROBERTMBRAGG.REALTOR

COMING SOON LISTINGS

WWW.DICKINSONCOMINGSOON.COM

WWW.LEAGUECITYCOMINGSOON.COM

THANK YOU!!

Just Listed in Dickinson: 2883 Misty Bay Drive, Dickinson, TX 77539

An Awesome find in Bay Colony and Dickinson ISD. This fully remodeled home is ready for immediate move in. Vinyl Luxury Plank Wood flooring throughout, all new cabinets in the kitchen with granite counter tops, stainless oven, cooktop, microwave, dishwasher, and refrigerator, 2 car attached garage, screened in back porch, and more!  

CLICK HERE FOR MORE DETAILS AND PHOTOS!

DICKINSON CUB SCOUT PACK 696 KICKS OFF THE NEW SCHOOL YEAR.

DICKINSON CUB SCOUT PACK 696 KICKS OFF THE NEW SCHOOL YEAR.


JOIN Cub Scout Pack 696 on Tuesday, 8/28/18 at 6:30 pm at the First United Methodist Church in Dickinson for their 2018-2019 Pack 696 Kickoff Pack Meeting!

Cub Scouts is for kids from kindergarten up to 5th grade.  And, this year, Cub Scouts is now open to both girls and boys.  Cub Scouts is a weekly program that helps Cubs grow in a variety of skills.  It also includes monthly outings, camping trips, hiking trips, pinewood derby, and more!

As the Cub Master for Cub Scout Pack 696, I'd like to say...

We are excited to have our Cubs come back this year as we hit our one year anniversary of Hurricane Harvey!  With Harvey in our past, we know this year will be filled with lots of exciting items, campouts, visits to Camp Karankawa, overnight stays on ships, and more!

Our committee has completed the 2018-2019 calendar planning, and we are finalizing the details, but you can view the calendar as we update it by visiting www.cubpack696calendar.com.

Look forward to seeing you on Tuesday!

Robert M. Bragg
Cub Pack 696
832.534.0625
robertmbragg@gmail.com

What does title insurance protect you from? A lot.

I received this email from Stewart Title regarding Title Insurance, so I wanted to share it here.

----------

There are few things in life more important than protecting your home. The following matters are examples of why you need a Stewart Title insurance policy. Remember that the best title examination or search cannot protect your equity and home from matters not appearing in the public records. However, a Stewart Title policy* can protect you from:

• Documents executed under false, revoked or expired powers of attorney
• False impersonation of the true land owner
• Undisclosed heirs
• Improperly recorded legal documents
• Prescriptive rights in another not appearing of record and not disclosed by survey
• Failure to include necessary parties to certain judicial proceedings
• Defective acknowledgements due to improper or expired notarization
• Corporate franchise taxes as liens on corporate real estate assets
• Gaps in the chain of title
• Mistakes and omissions resulting in improper abstracting
• Forged deeds, mortgages, wills, releases of mortgages and other instruments
• Deeds by minors
• Deeds which appear absolute, but which are held to be equitable mortgages
• Conveyances by an heir, devisee or survivor of a joint estate who attempts to attain title by ill-gotten means
• Inadequate legal descriptions
• Conveyances by undisclosed divorced spouses
• Duress in execution of wills, deeds and instruments conveying or establishing title
• Issues involving delivery of conveyancing instruments
• Deeds and wills by persons lacking legal capacity
• State inheritance and gift tax liens
• Errors in tax records
• Demolition and substandard building liens
• Administration of estates and probate of wills of missing persons who are presumed deceased
• Issues of rightful possession of the land
• Issues concerning the rightful conveyances by corporate entities
• Deeds and mortgages by foreigners who may lack legal capacity to hold title
• Legal capacity of foreign personal representatives and trustees
• Issues involving improper marital status
• Improper modification of documents
• Rights of divorced parties
• Conveyances in violation of public policy
• Misinterpretation of wills and ancillary instruments
• Deeds by persons falsely representing their marital status
• Claims by creditors of decedent against property improperly conveyed by heirs and devisees
• Issues concerning unlawful takings by eminent domain or condemnation
• Special tax assessments
• Real estate homestead exceptions
• Forfeitures of real property due to criminal acts
• Issues concerning adoption of children
• Conveyances and proceedings affecting rights of military personnel protected by the Soldiers' and Sailors' Civil Relief Act
• Issues concerning interests noted in financial statements filed under Uniform Commercial Code
• Interests arising by deeds of fictitious parties
• Adverse possession
• Lack of jurisdiction or competency of persons in judicial proceedings
• Community property issues
• Utility easements
• False affidavits of death or heirship
• Intestate estates
• Probate matters
• Federal estate and gift tax liens

*Subject to certain limitations set forth in the policy.

Visit stewart.com for more information about title insurance and to find out why Stewart Title is the right title company for you.

Stewart Title League City

Julie Gonzalez

Business Development Officer

1600 W. League City Parkway, Suite T

(281) 221-1508  cell

Julie.Gonzalez@stewart.com

stewart.com/galveston/league-city-office

"Easy-to-update items to make your new home yours" from First American Home Warranty

This Newsletter from First American Home Warranty has some great information about "easy-to-update items to make your new home yours."  To view the actual newsletter, please Click Here.

For Additional Pages, please click on the link below. Thanks.

http://homewarranty.firstam.com/images/eaglemail/pdf/FA_Newsletter_Feb_2014.pdf

DICKINSON 2013 CHRISTMAS TRAIN SHOW, HOME TOUR, AND PARADE

ITS THAT TIME OF YEAR AGAIN.  Each year at Christmas time, DICKINSON is host to a Christmas Train Show, Tour of Homes, and Parade.  These are great events, and the Train Show is FREE!






DICKINSON ANNUAL TRAIN SHOW AND WINTER FESTIVAL

DATE: December 7, 2013 - December 8, 2013

LOCATION: Dickinson Historical Railroad Center and Museum at 218 FM 517 West, Dickinson, Texas 77539.

PRICE:  Free for admission to look at the miniature train. The train ride is $1.00. Drinks and Snacks vary.

EVENT DESCRIPTION: The Dickinson Historical Society teams up with the Dickinson Tourism Department to bring the excitement of trains to the community. This event is for the entire family to enjoy - young and old alike! The festival portion includes a fun jump and train rides for the kids, and hot dogs and snacks are available at various prices.



CHRISTMAS TOUR OF HOMES

DATE: Sunday, December 8, 2013, 1:00 pm to 5:00 pm.

PRICE: Tickets are available for $10 per person (young children 6 or under are free). Tickets may be purchased at Crowder-Deats Flower Shop located at 845 W 517 in Dickinson, or from any home on the tour.

EVENT DESCRIPTION: The Christmas Tour of Homes is sponsored by The Pilot Club of Dickinson. Five homes are featured on the tour, plus the Crowder-Deats Flower Shop. You can start the tour at any of the homes or the flower shop...


View Larger Map

• 3915 Liggio Street, Dickinson (A on Map)
• 2422 Kilgarney Keep Street, Dickinson (B on Map)
• Spring Gully Drive, Dickinson (C on Map - Not sure of exact address)
• 620 Bayou Crest, Dickinson (D on Map)
• 845 FM 517 Rd W, Dickinson - Crowder-Deats Flower Shop (E on Map - 20% discount on items bought in the store during the tour)
• 1712 Country Lane, Santa Fe (F on Map)

CHRISTMAS PARADE - "CHRISTMAS ON THE BAYOU"

DATE: Thursday, December 12, 2013. Line up starts at 6 pm. Parade starts at 7 pm.

LOCATION:  The parade starts in the True Cross Catholic Church back parking lot, and heads east on 517, ending near the Amegy Bank Building.

PRICE: Free to watch. Participant floats have a cost...click here for details.

EVENT DESCRIPTION:  The Dickinson Parade is sponsored by the Dickinson Rotary Club, which was organized February 10, 1964 and admitted to Rotary International on March 18, 1964. The Rotary Club of Dickinson was formed with 31 members and was organized by Special Representative E. Virgil Wilhelm of the Rotary Club of Galveston, Texas and sponsored by the Rotary Club La Marque, Texas. Rotary has 2 fundraiser projects each year - the Spaghetti Dinner and the Flag Project. The Flag Project includes the set up of a flag at your home on 6 days a year. Learn more HERE.

The Houston Real Estate Market Ends 2012 With A Bang

Have you been thinking about buying or selling? Apparently a lot of people are actually doing exactly that, as December of 2012 marked 19 straight months of an outstanding Real Estate Market for the Houston Area.

Check out the details here.
The Houston Real Estate Market Ends 2012 With A Bang

Tanger Outlet Center Opens in Texas City

As most everone knows, the new outlet center in Texas City, just south of Dickinson, recently opened.

The 350,000-sf retail project was a combined effort between Simon and Tanger, a first for the two companies, which are normally competitors. The retail building was 97 percent leased at delivery with 80 featured retailers and has the potential for a 50,000-sf expansion in the future.

Read more at the Galveston Daily News and CoStar Group.

For more on the Texas City, see NewsTalk Texas.

NEW FHA LOAN REQUIREMENTS

NEW FHA MORTGAGE RULES TAKE EFFECT

New Federal Housing Administration (FHA) rules will effect many first-time homebuyers as well as many current homeowners. 

One rule, which took effect yesterday, disqualifies first-time homebuyers with more than $1,000 in medical or other collections from getting an FHA-backed loan. To qualify for the loan, the buyer must pay off the debt or show that three months of payments have been made.

Meanwhile, all homeowners who have FHA loans will have to pay more in mortgage insurance starting next Monday.

What does this mean for someone that is interested in buying a home? They need a great loan officer that can help them understand how this affects their ability to buy a home. If you are thinking of buying a home, contact me (Robert M. Bragg) at 832.256.8589. I'll help connect you with our lender, and together as a team, we can establish a plan to help you move past any challenges.

View the Full Article Here

HAR ANNOUNCES - 8 MONTHS OF INCREASED HOME SALES

THE NEW YEAR BEGINS ON A POSITIVE NOTE FOR THE HOUSTON REAL ESTATE MARKET

January marks the eighth consecutive month of increased home sales

HOUSTON – (February 21, 2012) — The Houston housing market held to positive territory as 2012 began, with January marking the eighth consecutive month of increased home sales. The year also opened with a continued decline in active property listings and growth in pending sales—a combination that signals a healthy market with a balanced supply of housing inventory, and that puts Houston on enviable footing compared to many other markets around the U.S. that are slowly recovering from the housing downturn.

January sales of single-family homes climbed 9.2 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). All segments of the housing market grew except the luxury segment—those homes priced from $500,000 and above—whose decline flattened the overall average price.

"The January report shows continued strength in the Houston housing market that we began seeing in the latter part of 2011, and it gives us cause for optimism as we look ahead to the typically active spring and summer buying months," said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. "We have also seen more jobs being filled locally and you generally don't experience a strong real estate market without healthy employment."

FOR THE FULL ARTICLE AND VIDEO, CLICK HERE.

RESTARTING THE TEXAS BAY AREA BLOG!

With the new school season
in August came new
responsibilities.

It has been some time since I posted here and I was trying to figure out why I lost touch with my Blog. Previously I was trying to post at least twice a month. Looking back, it appears that my last post was on July 29th, just before the new school season started in August. And that's when I found the culprit! The new 2012 school season, and the new change in our home life.

With the new school season, my wife started her full time job with the Dickinson School Distrcit as a 1st grade teacher. Previously, she was working only half days as a pre-school teacher at the same location. Like most families in todays economic times, my wife and I realized that we could no longer keep her at home either full or part time to care for our 3 young children. Instead, we needed her to take on a full time job, and the full time income, so we could keep our family above water. Luckily, we were able to find a great pre-school for our two youngest, and our oldest started attending 1st grade.

My Ipad schedule always
looks full like this.

As a Real Estate Agent, my schedule is "flexible." Well, not really. If you plan to succeed in Real Estate, then basically being a Real Estate Agent is a full time job, with a full time schedule, especially on weekends and after 5:00 pm weekdays when your clients are free to meet. Besides, I don't know many serious buyers or sellers that want a part-time agent. However, my schedule was "flexible" enough to allow us to make the double income family schedule work.

I had to chase down the
bus once since my son
missed it. They won't
let me do that again.

Since my wife typically leaves the house by 7:15 am at the latest, I'm basically pulling kid duty in the mornings. I try to have myself and my 1st grader son almost ready to go by that same time so we can see my wife off to her job. Next I get my 1st grader to the bus stop by 7:30 am...often times with the threat that he is going to miss the bus if he doesn't get moving! In fact, I once chased down the bus to the next stop in my neighborhood since he missed it. Needless to say, the bus driver didn't like that. Once I see him off, its back inside to rouse up the two pre-schoolers, get them fed, dressed, and ready. Its alwasy a challenge to help them feel my sense of urgency as we get ready in the mornings. We try to leave before 8:30 am, as the earliest they can be at school is 8:30 am. Twice a week I'm supposed to be at the Bayou Realtors office at 8:30 am...its hard to be in two places at the same time!

I squeeze in my "Real
Estate Chores" into a
2 hour window each day.

It took some time, but I finally adjusted to this new morning schedule. The afternoons were more difficult! Initially, we were able to recruit my father to assist with picking up the kids twice a week. This was definitely helpful, however, I was still having to pick up kids at 2:00 pm in the afternoon three times a week. Usually, I end up at the office by 9:00 am, and start my "Real Estate Day." After picking up the kids at 2:00 pm, I then have about 2 hours to do some "Real Estate Chores" such as put up signs, take pictures of homes, etc., before I have to be home for my 1st grader to arrive at 4:00 pm. Around 5:00 to 5:30 pm, my wife would get home, and then I could head back out to go on my appointments, just in time for my clients to get off work and be ready for me.

Now my father is covering three days a week for me, and that has made all the difference. Wow...I didn't realize what one more day would mean to me and my business! I am now able to assist in training our new agents at our office, and have more time assisting buyers looking for a home. That one extra day has allowed me to start growing my business, instead of just managing it. I have a lot of thanks to my dad for that. And, in all of this, I have been able to spend more time with my kids...even if its just because I'm moving them from one place to the next.

With the market picking up
we are ready for growth
and expansion! We've added
5 new agents to our office
over the last 6+ months!

This blog post is a little different for me. I don't often open up my personal life on my business blog. However, here it is. What started as just a quick note to say why I've been gone from this blog for 6+ months has become a 7 paragraph dissertation! I never left Real Estate...instead I've been submerged in it. I just haven't looked at my Blog since school started. Anyways...all I can say is that I understand the struggles that everyone is facing, as I face them too. My consistant goal is to take care of my clients, and help them get what they need...whether its selling their house, finding their new dream home, or helping them with some other real estate need. My client's goal is my goal! And I'm thankfull to have the support of my wife and family to help me make that possible for my clients.

Dickinson ISD and Clear Creek ISD Achieve Recognized Status

Dickinson, Clear Creek schools earn high marks

By T.J. Aulds
The Daily News
Published July 29, 2011

The Texas Education Agency is not scheduled to release the latest school ratings until today, but some Galveston County districts already were bragging about their standings before the official notice.

In Dickinson, school administrators were calling for fireworks after they learned the school district would receive its first Recognized rating. Recognized is the second highest rating a school district or school campus can receive under the state’s rating system.

For the full story, click here.

Knowing the Cost of Your Move

This is a first for me, but hopefully not a last. I was contacted by James Kim, and he asked if he could be a guest author and write an article for my blog. I said "sure!" Well, I can say he wrote a good article with some excellent info about Houston, and other areas of Texas. Enjoy...and thanks James!

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KNOWING THE COST OF YOUR MOVE

Times have been tough. And, honestly, it was hard enough finding a good price on a house before the economy tanked. With everyone tightening their purse strings, it’s important to look closely at the areas you want to live. First, you want to make sure that that wallet of yours can get filled with money from a good job market, indicated by the amount of corporate presence in an area. And, second, you want to make sure that you don’t have to shell out a lot of cash just to get by day-to-day. If all of this makes sense to you, you’ll be happy to know that finding a good area isn’t as hard as you might have thought. Fair warning, though: by the end of this article you might find yourself saying “howdy” and “y’all” while searching for some Austin real estate.

So, first things first: where are you most likely to find a job? Forbes points out several good areas, saying that St. Louis is home to 9 of the strongest companies in the country while Texas goes above and beyond with 38 in Houston and 15 in Dallas. And these are certainly not companies that just earned a Forbes ranking through some fluke of arithmetic or Enron-style accounting. St. Louis holds the famous Energizer Holdings Inc. along with the massive, chemical-dealing Monsanto Company. But again, Texas seems to edge out in front, with Houston hosting ConocoPhillips and Halliburton, Austin hosting Dell and Whole Foods and Dallas hosting AT&T and Texas Instruments (a longer list is here).

“But wait,” you say. “What about those thriving areas of commerce like New York City!?” Simple: those places are incredibly expensive to live in. As you can probably guess, New York City is the most expensive city in the country while the popular destinations of California and Hawaii are tied for the title of most expensive state. You’re going to be paying a lot more for a gallon of milk in New York City than you would in almost any other part of the country. Unless you can safely say that the money doesn’t matter, those are not very good places to move to right now.

With those out of the way, we can have a look at the already solid locations that were previously mentioned. St. Louis, as Forbes points out, follows the trend of most Midwestern states by being incredibly inexpensive – the lowest cost of living in the country, in fact. St. Louis “might not have the reputation for top schools, a low crime rate or good weather,” but you certainly won’t have to pay much to live there. The reason for this is quite simple: the Midwest is landlocked, and that’s not something that attracts the title of “prime real estate.” But Texas? The state that is home to perhaps the best job market in the country right now? It’s also not expensive to live in, and features a cost of living that is low across the board; you can’t make many wrong moves there (and you can always live along the Gulf of Mexico if a beach is a must-have for you).

When you’re looking to move, you have to be realistic about all of your options. Knowing what the job prospects are where you’re going to live along with how much it will cost to live there is incredibly important. For the best of both worlds, Texas is your best bet at the moment, but nothing can beat the Midwest (and St. Louis, in particular) when it comes to just being simply inexpensive. As long as you’re realistic with what you can afford, you should have no problem finding a suitable area to move to, even with things the way they are today.

James Kim writes for Austin Real Estate service Homecity.com. HomeCity combines powerful online Austin MLS search technology and other online tools with personalized real estate services to provide clients with the knowledge they need to make the right buying and selling decisions.

Garza Sports Complex an ‘upgrade’ for Texas City

I am currently at the Texas City Funfest judging fajitas and k-bobs. What a blast. It's my first time to judge, and definitely won't be my last. The event is held at the new Garza Sports Complex in Texas City. What a wonderful complex for Texas City.

Learn more about this new sports complex by checking out the article below.

Garza Sports Complex an ‘upgrade’ for Texas City

DOWNSIZING TREND IN TODAY'S MARKET? Woman Rents 90-Square-Foot Apartment in New York

I saw this story today about a woman who has downsized to a 90 sf apartment! Now, I know that the trend in today's market for many people has been to downsize, and thus reduce their maintenance costs, insurance, taxes, and of course, monthly mortgage payment.

However, only in New York would you see a downsize reduction this extreme!

Woman Rents 90-Square-Foot Apartment in New York

Of course, in Texas, with the current buyer's market, its possible now to UPSIZE (Texas Size It), and still save money! For example, I was personally involved with a buyer who was able to buy a 3 year old home that was foreclosed on. It was a 4,000 sf home, with an oversized lot in a nice neighborhood. Per MLS, it originally sold to the initial owner by a home builder for just under $250,000. The final sales price for the new buyer in early 2010 was for just under $175,000! A $75,000 reduction on the original builder sale price.

Now that's a Downsize on Price, but an UP on Size! Let me know if you are looking for similar hot deals! I can find them for you!!

Houston Celebrates Two Percent Drop in Sales



This Beautiful Home in The Forest of
Friendswood is listed for under $300,000.
View the video at www.har.com/74415084

Some might have had to re-read the title of this article to make sure their eyes weren’t playing tricks on them. The latest MLS statistics are out and they show a two percent drop in sales for February 2011 when compared to the same month last year. While a drop in sales is usually not greeted with open arms, let’s examine why this is excellent news for the Houston market.

Read More...

DICKINSON HOSTING HOUSING FAMILY FAIR

Click Flyer to View Information

The first Dickinson Housing Family Fair is scheduled for

Saturday, February 26, 2011

10:00 am to 2:00 pm

Location: Mt. Carmel Baptist Church

2920 Highway 3, Dickinson, TX

Click to View Map

This Fair is a great opportunity to come and learn about Home Ownership Programs that are available.  If you are interested in Home Ownership Opportunities, make sure to stop by and see what its all about!!

Bayou Realtors is proud to be involved with this event, and we will have a booth on site. Make sure to stop by, say hello, and tell us about your Future Home Needs. We can start sending you information immediately!

If you are ready now to start looking for your home, whether it is new construction, resale, HUD home, foreclosure, or short sale, be sure to contact Robert M. Bragg with Bayou Realtors. You can email Robert at robertmbragg@yahoo.com, or call at 832.256.8589. Remember to sign up for the newsletter by using the link on the right. 

METROSTUDY: JOB GROWTH, HOME STARTS SUGGEST H-TOWN RECOVERY

Metrostudy is a company that provides information about the housing industry and related industries. Below is information on a recent study they posted. View the Original Posting here.

HOUSTON (Metrostudy) – The Bayou City's economy is showing signs of recovery according to a recent Metrostudy report.

The Houston economy had over 13,000 more jobs at the end of 2010 than it had at the beginning, a .5 percent increase after a loss of 102,800 jobs in 2009.

Overall, Metrostudy recorded 18,752 home starts in 2010, a 1.1 percent increase over 2009. This is the first increase in new home activity after three straight years of decline, according to the Metrostudy report. Houston closed 20,579 homes in 2010, a 10 percent decline from 2009. Closings have outpaced starts since first quarter 2007, so the market has absorbed inventory.

Total new home inventory stands at a 5.9-month supply, below the six months that Metrostudy considers equilibrium for Houston. Finished vacant inventory has dropped to 5,320 units, a 3.1-month supply. “The Houston market continues to face fewer market obstacles than most U.S. markets,” said David Jarvis, director of Metrostudy’s Houston division. “Texas’ pro-growth policies and business friendly environment will continue to benefit local housing markets and allow for 2011 to show moderate growth.”

Are you looking to buy or sell a home, or do you have any questions regarding real estate? Be sure to contact me at robertmbragg@yahoo.com, or by phone at 832.256.8589. Also, be sure to join my newsletter by clicking on the link on the right.

95-Store Outlet Mall Planned for League City

Looks like the race is on to build an Outlet mall in Galveston County. Just this week, Simon Property Group announced they are going to build an outlet mall in Texas City, dubbed "Galveston Premium Outlets." Then, today, Tanger Factory Outlet Centers announced they are building an outlet mall in League City. The article below was printed in the Galveston Daily News. View the original story here!

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COURTESY PHOTO/Tanger Factory Outlet Centers Inc. An artist’s rendering shows a planned 95-store outlet mall near Interstate 45 and FM 646 in League City.


95-store outlet mall planned for League City

By Laura Elder
The Daily News
Published January 18, 2011

LEAGUE CITY — In what might be the starting gun of a fierce retail race, Tanger Factory Outlet Centers said Monday it planned a 95-store outlet mall near Interstate 45 and FM 646 in League City.

The Greensboro, N.C.-based company said it planned to build the 300,743-square-foot mall on 35 acres west of Interstate 45 between the city’s Big League Dreams sports complex and the Bay Colony shopping center.

The announcement confirming weeks of speculation came just days after another major outlet mall operator — Indianapolis, Ind.-based Simon Property Group — said it planned a 350,000-square-foot center along Interstate 45, south of Holland Road.

Neither Simon nor Tanger officials would comment about whether the county could sustain two major outlet malls, nor would either divulge possible tenants.

Outlet malls differ from regional malls such as the bustling Baybrook Mall and the struggling Mall of the Mainland because manufacturers sell directly to the public and promote discounts on merchandise.

Successful centers typically have a large concentration of discounted versions of popular stores such as Calvin Klein, Coach, Gap, Kate Spade, Kenneth Cole, Nike and Saks Fifth Avenue.

Simon operates successful centers such as Katy Mills in Houston and also Houston Premium Outlets in Cypress. Tanger operates 33 outlet centers, including one in San Marcos.

Last year, Tanger identified 17 markets it considered under served by the outlet industry, officials said.

Along with League City, Tanger plans two malls in Arizona. Sonrisa Development LLC owns the League City land Tanger has under contract.

Outlet stores, which are considered strong tourist draws, are the bright spot in an otherwise dreary commercial real estate landscape during one of the worst downturns in years, Hall said.

Industry observers also contend that outlet malls are outperforming regional malls and strip centers as consumer seek bargains.

When Tanger achieves the pre-leasing threshold of at least 50 percent, it will begin construction, likely by the year’s end, officials said.

Planned Outlet Mall Will House Nearly 100 Stores

The following article was printed in the Galveston Daily News. This can be a great economic boost to Texas City and also to the Dickinson Independent School District. Not to mention the jobs it will create during its construction, and also once it is complete! To see the original article, click this link!

----------------

Photo courtesy of Premium Outlets, An artist's rendering shows an outlet mall planned along Interstate 45, south of Holland Road in Texas City.

Planned Outlet Mall Will House Nearly 100 Stores

By Laura Elder

The Daily News

Published January 13, 2011

TEXAS CITY — Major mall operator Simon Property Group said it plans to build a 350,000-square-foot outlet center at Interstate 45, south of Holland Road, delivering some of the biggest retail news Texas City has had in decades.

Indianapolis, Ind.-based Simon Property Group, which owns successful outlet malls such as Katy Mills in Houston and Grapevine Mills near Dallas, said it had an option to buy 55 acres that were previously part of a plan for Lago Mar, a 7,000-home residential community along the Interstate 45 corridor.

Lago Mar, west of Texas City, was sidelined by lingering real estate market malaise prompting landowners to begin selling off parcels for other ventures.

Developers are calling the proposed mainland mall “Galveston Premium Outlets.” The mall, between Holland Road and Walmart, will house about 100 stores, said Michele Rothstein, spokeswoman for Premium Outlets, the outlet division of Simon Property Group.

Rothstein said Premium Outlets is preleasing the center. She declined to name potential tenants but said interest had been strong.

“We are excited about the interest our merchants have in the project,” Rothstein said. “Typically, we announce stores much closer to opening.”

The center would offer a mix of product categories, including apparel and shoes, fashion accessories, leather goods, home furnishings and specialty retail.

Outlet centers differ from regional malls such as Baybrook Mall and Mall of the Mainland because manufactures sell directly to the public and promote discounts on merchandise.

Successful centers such as Katy Mills and The Mills are considered shopping destinations, boosting tourism in their home cities.

The center is projected to generate more than $120 million in yearly retail sales, $10 million in sales tax yearly and $1 million in property tax revenues, Simon officials said.

The news comes as unconfirmed rumors fly that Greensboro, N.C.-based Tanger Outlet Centers plans a large outlet mall on 20 acres north of Cross Colony Drive and west of FM 646.

La Marque is home to a small outlet mall — Gulfway Plaza, 14047 Delany Road. But Gulfway Plaza, which never had the large concentration of tenants to lure tourists, has found a more profitable purpose by leasing space to a mix of government agencies, professional offices and factory outlet tenants.

It’s been a long time since Texas City has had such big mall news.

Operators of Mall of the Mainland, plagued by tenant departures, last year filed for Chapter 11 bankruptcy protection. Not long after, lender Pacific Western Bank took possession of the property and hired Boxer Property Management, known for turning around distressed properties, to manage and improve operation.

The Premium Outlets has 83 outlet properties in its portfolio — 57 in the United States primarily in or near major metropolitan markets such as New York, Los Angeles, Boston and Chicago and visitor markets such as Orlando, Las Vegas and Palm Springs, Fla.