One Houston-based developer is planning to transform the former Macy’s at Almeda Mall into a new indoor marketplace. Read King, which acquired the 23-acre property in southeast Houston in fall 2024, will redevelop the two-story, 290,000-square-foot building as The Market at Almeda.
The redevelopment comes after Macy’s closed its location at Almeda Mall earlier this year as part of a national reduction involving 66 stores. After purchasing the site, Read King leased it back to Macy’s until March 2025. The closure left the mall without a major anchor tenant.
Travis Read, senior associate at Read King, told the Houston Business Journal that negotiations are underway with several potential tenants for the reimagined space. “We’re negotiating with a grocer, a fitness center and a beauty school for the reimagined space,” he said. The grocery store would occupy about 65,000 square feet on the first floor and serve as an anchor for the project. Other portions of the ground level will be divided into restaurant and retail spaces along both sides of the building. Approximately 44,000 square feet upstairs will be available for smaller tenants while other areas will be used for utilities.
Instead of demolishing and rebuilding from scratch—a plan initially considered—Read King decided to adapt and reuse much of the existing structure due to its solid construction and high visibility from Interstate 45. Travis Read explained that plans include recladding the exterior and adding new glass storefronts to create what he described as a “retro vibe” referencing Almeda Mall’s history. Bellaire-based Boucher Design Group is leading architectural work on the project.
In addition to changes within Macy’s former footprint, Read King intends to add a detention pond and two pad sites across Kleckley Drive for sale or lease—likely targeting restaurants or retailers. Permitting is ongoing with groundbreaking anticipated in early 2025; development costs have not been disclosed.
Almeda Mall has faced long-term challenges following recent departures by anchor tenants such as Burlington last year. Current businesses include DD’s Discounts, Foot Locker and Bath & Body Works alongside a small food court. The mall itself remains under separate ownership by South Florida-based 4th Dimension Properties.
