HOUSTON, TX - Nitya Capital, and Tema Development have signed a milestone strategic framework agreement (SFA) announcing the development of Two Hermann Place, an iconic and luxurious multifamily high-rise. Two Hermann Place is located in the heart of Houston’s Hermann Park inside the Museum District.
Both organizations look forward to a long-term partnership in efforts to design new structures and redevelop existing assets into modern and state of the art multi-use real estate projects. 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.
Two Hermann Place, a new luxury apartment tower spanning 32 stories with state of the art finishes and amenities, is scheduled for completion in the winter of 2022. The highly anticipated new community, located at 1661 Hermann Drive near Jackson Street in the Museum District, provides residents with unobstructed views of the downtown skyline and Houston’s most coveted and dynamic green space, just minutes from Rice University, The Texas Medical Center and Downtown. The groundbreaking is scheduled for Q1 2020, said Haytham Haidar, Tema’s Director of Development.
“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.
The iconic 32-story building offers 295 residential units with 13 bespoke floor plans, featuring high ceilings, quartz countertops and backsplashes, chef inspired appliances, grand closets with premium storage systems in every unit, spacious hallways, USB charging stations and NEST thermostats. High-end amenities for residents include a resort-style pool with a sunbathing ledge and cabanas, top floor sky lounge, café bar, 11,000 square foot amenity deck on the 8th floor, conference area, dog park, barbeque area and fitness center overlooking the park providing an elegant yet relaxed aesthetic. Two Hermann Place will provide 24 hour valet service with transportation shuttles to nearby destinations, and amenities including EV charging stations and private garages. The average residence size is 1,076 square feet, continued Mr. Haidar.
Uniquely situated on the edge of Hermann Park, residents will enjoy panoramic park views and easy walking access to the 445 acres filled with lush gardens, live oaks, landscaped golfing greens, fountains, and cultural institutions. “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,” said Mr. Agarwal.