HOUSTON – (Realty News Report) – The 35-story Parklane residential tower across the street from Hermann Park in the Museum District is being converted from rental units to condos for sale.
Upon completion, The Parklane will feature 195 modern residences available exclusively for purchase, with prices starting from the $300s.
“We built The Parklane in 1983 and were one of the first to introduce high-rise residential living to Houston’s thriving Museum District,” said Nadim Zabaneh, Vice President of Houston-Based Tema Development. “We came to realize there was a niche in the market with a price range conducive to all buyer types, including first-time homebuyers, real estate investors, second homeowners, and empty nesters. This drove our decision to convert rental residences into condominiums.”
Elevated Group at Compass will be handling sales.
Tema Development, Inc. has engaged Mirador Group as the architect, interior designer and landscape architect for the project. The Houston-based architecture and interior design firm has a track record for condominium buildings.
“Our design approach is to stay true to the roots of this contemporary building and incorporate timeless elements,” said Jerry Hooker, principal of Mirador Group. “The material palette is warm, very classic, and all stone.”
Tea recently announced plans to develop a 32-story apartment tower called Two Hermann Place on a nearby parcel. “We are bullish on this charming and historical area of Houston,” said Haytham Haidar, Tema’s Director of Development. The firm also developed One Hermann Place, a 224 unit 7-story multifamily rental project that was completed in the fourth quarter of 2016 at1699 Hermann Drive.
The neighboring 535-acre Hermann Park has a public golf course, the Houston Zoo and many ancient oaks.