Nitya Capital, Tema Development to develop luxury residential building in US

WCN Editorial Team 18 Dec 2019 NORTH AMERICA BUILDINGS

US-based real estate company Nitya Capital has signed a strategic framework agreement with Tema Development for the development of Two Hermann Place, a luxurious multifamily high-rise building to be located in Houston, Texas.

Two Hermann Place will be a new luxury apartment tower with 32 floors and is expected to include the latest finishes and amenities.

To be located at 1661 Hermann Drive near Jackson Street in the Museum District, the new building will offer residents unobstructed views of downtown skyline. It is also claimed to be just minutes from Rice University, The Texas Medical Center and Downtown.

The groundbreaking is scheduled to take place in the first quarter of 202 and it could be completed in the winter of 2022.

The building will offer 295 residential units with 13 floor plans that feature high ceilings, quartz countertops and backsplashes, chef-inspired appliances, grand closets, spacious hallways, USB charging stations and NEST thermostats. The average residence size is 1,076ft².

Amenities for residents include a resort-style pool with a sunbathing ledge and cabanas, a 2,100ft² top floor sky lounge, café bar, 11,000ft² amenity deck on the eighth floor, conference area, dog park, barbeque area and fitness centre overlooking the park.

The building will offer 24-hour valet service with transportation shuttles to nearby destinations and amenities such as EV charging stations and private garages.

Nitya Capital and Tema Development said that they are looking forward to a long-term partnership to design new structures and redevelop existing assets into modern and state-of-the-art multi-use real estate projects.

Nitya Capital CEO Swapnil Agarwal said: “We are both excited and confident that this partnership will be a great success.”

Tema Development vice president Nadim Zabaneh said: “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.

“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.”

The Two Hermann Place development will overlook 445 acres of green space, gardens, and a golf course. Residents will enjoy the park views and easy walking access to the green space.

Agarwal continued saying: “We are proud to provide our residents with an extraordinary scenic lifestyle in the heart of Houston that seamlessly integrates with Hermann Park, rich in beauty, charm and history while also offering unparalleled convenience to the community.”


Image: Artist’s rendering of the Two Hermann Place in Houston. Photo: Courtesy of Business Wire.

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