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Village Arcade
The Village Arcade Shopping Center is a shopping center in Rice Village, Houston, Texas owned by Rice University.
==History==
The center was developed in phases in the early 1990s.〔Sarnoff, Nancy. "(Rice to take control of Village Arcade )." ''Houston Chronicle''. February 14, 2014. Retrieved on April 14, 2014.〕 The buildings of the Village Arcade complex were owned by Weingarten Realty while a subsidiary of Rice University owned the land itself.〔Kaplan, p. 19.〕 Weingarten Realty Investors, the developer, historically owned the buildings, but Rice University owned the land. Weingarten had a ground lease with options to renew the center until 2040.〔
David Kaplan of ''Cite''. wrote in 1996 that the development "has become a lightning rod of controversy, representing either the glories or the perils of progress."〔Kaplan, p. 18-19.〕 Kaplan stated that the Rice Village development paralleled the teardowns of smaller older houses and replacements with larger houses in surrounding neighborhoods.〔
In 2014 Rice University announced that it was acquiring the Village Arcade shopping center from Weingarten Realty. Rice University opted to buy Weingarten out of its lease, paying $55–60 million. This means the university also owns the property in addition to the land.〔Sarnoff, Nancy. "(Rice to take control of Village Arcade )." ''Houston Chronicle''. February 14, 2014. Retrieved on February 16, 2014.〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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