A large portion of the center, which was built in 1956, will be demolished, clearing the way for new "big box" retailers and other stores. The 50-acre site was purchased about two years ago by Wulfe in partnership with the Houston Redevelopment Authority, a quasi-governmental agency. Wulfe has since picked up an additional 24 acres, targeting the entire site for development. When the Gulfgate project is completed next year, it will have more than 650,000 sf of retail space, including apparel stores, an office supply store, and electronics store and several restaurants.

The original tract at the intersection of Gulf Freeway and Loop 610 contained a significant amount of asbestos that had to be removed. With that leg of the project behind him, Wulfe has marketed the site for an 80,000-sf H-E-B grocery store plus lured Lowe's Home Improvement toa section of the supplemental 24-acre tract, where a 163,000-sf store will be built.

The property is ideal for redevelopment due to its high-traffic location where more than 350,000 vehicles per day pass the site, says Wulfe, who is a veteran of Houston's shopping center development and leasing activity.