HOUSTON – A 32-story residential tower is being developed through a partnership between Nitya Capital and Tema Development on the northern edge of Hermann Park in Houston’s Museum District.
The building, called Two Hermann Place, will contain 295 apartment units and will be located at 1661 Hermann Drive at Jackson Street.
Groundbreaking is planned for the first quarter of 2020, according to Haytham Haidar, Director of Development at Tema. Tema Development’s previous local projects include The Parklane, a 35-story luxury condominium at 1701 Hermann Drive, and One Hermann Place, a 224-unit, seven-story apartment building at 1699 Hermann Drive.
Houston-based Nitya Capital, led by CEO Swapnil Agarwal, manages a nationwide portfolio of approximately 17,000 apartment units.
“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 worked to reflect the neighborhood’s character, matching stonework and materials found elsewhere in the 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,” Mr. Zabaneh added.
Architectural design for Two Hermann Place is by Page.
Dec. 16, 2019 Realty News Report. Copyright 2019.
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