HOUSTON – (Realty News Report) – A 32-story apartment tower is being developed by a partnership of Nitya Capital, and Tema Development on a site on the northern edge of Hermann Park in Houston’s Museum District.
The 295-unit tower will be located at 1661 Hermann Drive at Jackson Street.
The groundbreaking is scheduled for the first quarter 2020, said Haytham Haidar, Tema’s Director of Development. (Tema Development, also developed The Parklane, a 35-story luxury condominium tower located at 1701 Hermann Drive, and One Hermann Place, a 224 unit 7-story apartment building at 1699 Hermann Drive.)
Houston-based Nitya Capital, led by CEO Swapnil Agarwil, controls 17,000 apartment units around the nation.
“This partnership begins with Two Hermann Place as a world-class multifamily project, and together we strive to put greater strength, synergy and mobility into the development of this market sector by utilizing our collective expertise and competence. We are both excited and confident that this partnership will be a great success,” said Swapnil Agarwal, CEO of Nitya Capital.
“During our design process we carefully researched every detail of this charming and historical area of Houston to build a residential space that effortlessly blends with the beautiful Hermann Park backdrop,” said Nadim Zabaneh, Vice President of Tema Development. The development team of Nitya and Tema went to great lengths to capture the neighborhood’s appeal including matching the stone with that of nearby Museum District. “It was important for us to maintain the character of the Hermann Place area to create an authentic park-like setting for our residents,” said Mr. Zabaneh.
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Dec. 16, 2019 Realty News Report Copyright 2019
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