Converse: reinventing, reinvesting retail

CONVERSE, BEXAR COUNTY – The City of Converse has shifted
from a sleepy, tertiary market to a growing economic hub with a soaring rise in
residential population.

It added more than 400 residential units this year, posts an
average household income of more than $75,000, and between 1990 and 2020,
expects to see population growth hit 165 percent. The one thing it doesn’t have
enough of? Retail.

Despite its success in attracting large-name companies such
as Caterpillar — which has provided a significant boost in both residential
demand and development — all of those people and all of those sales tax dollars
are traveling elsewhere.

In a study commissioned by the city, there is about $732
million in unmet retail demand in Converse.

“Converse is reinventing itself, reinvesting in itself and
proving it’s worth investing in,” Kate Silvas, the executive director of
Converse’s Economic Development Corporation, said. “There is $40 million in
infrastructure recently completed or in the pipeline, and we’re aggressively
pursuing new projects.”

“The goal is to reduce the retail leakage and
capture the largest leaks, which we found to be specialty food stores, clothing
and national-brand, full-service restaurants,” said Retail Coach’s Senior Vice
President Aaron Farmer.