Chase Bank is set to replace the now-closed Ruchi’s Mexican Grill at 5201 Richmond Ave. in Houston. Plans for the project have reportedly been in the pipeline for months.
An August 2025 filing with the Texas Department of Licensing and Regulation details a 5,147-square-foot single-story Chase retail bank with an attached drive-thru ATM and associated site work. While details submitted to the TDLR are subject to change, the project is estimated to total $4.1 million with construction lasting through late October 2027.
The property exchanged hands from Rich-Sage LTD and Sage Interests Inc., entities associated with owner Lovett Commercial, to JP Morgan Chase Bank in mid May 2026, according to Harris County real property records.
Permitting plans for the development were approved on July 7, according to city records. Three days later, the city issued a demolition permit to Dennis Williams & Co. for the shopping center, which dates back to 1995.
Chase Bank acknowledged Chron’s request for comment on Wednesday and said it was working to provide more information.
Until June, Ruchi’s Mexican Grill operated from the Richmond Avenue location, serving hand-made margaritas and other staples in Houston’s Tex-Mex and Mexican food scene. Ruchi’s still operates from two other locations in Houston, one at 6410 Westheimer Rd. and another at 3202 S. Loop W.
Of course, this isn’t the first bank to replace another business in Houston.
A former Shake Shack at 1002 Westheimer Rd. in the Montrose neighborhood became a branch of PNC Bank, hosting its official opening in March, according to Community Impact.
What was formerly El Palenque Mexican Restaurant, located at 10803 Westheimer Rd. in Houston’s Westchase Shopping Center, is now a Regions Bank.
In the past several years, banks have also found homes in buildings previously occupied by a variety of businesses, including gas stations, car washes, electronics retailers and more.