HOUSTON--(BUSINESS WIRE)--Nitya Capital, and Tema Development have signed a milestone strategic framework agreement (SFA) today, December 16 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.
About Two Hermann Place
Two Hermann Place is a luxury apartment high-rise spanning 32 stories and offering 295 units. The project is located at 1661 Hermann Drive directly across from Hermann Park. The development, which overlooks 445 acres of green space, gardens, and a golf course, is just minutes from Rice University, The Texas Medical Center and Downtown Houston. The development features high-end finishes and amenities including an 11,000 square foot amenity deck and a 2,100 square foot sky lounge.
About Nitya Capital
Nitya Capital is a private and vertically integrated, diverse real estate platform based in Houston, TX with approximately two billion dollars of assets under management. The firm owns and manages ~17,000 multifamily units across the country and also owns and manages office complexes, retail locations, single family homes and townhome developments. The firm has 500+ staff including 60+ support staff at its corporate HQ in Houston, TX and focuses on any and all real estate for opportunistic and value-added opportunities.
About Tema Development
Tema Development, established in 1981, is a leading residential developer based in Houston. The company also developed The Parklane, a 35-story luxury condominium tower located at 1701 Hermann Drive, which was completed in 1983, and One Hermann Place, a 224 unit 7-story luxury multi-family asset located at 1699 Hermann Drive which was completed in Q4, 2016.
Founded in 1898, Page, is a full service architectural and engineering firm recognized internationally for design excellence. The Page portfolio includes extensive landmark high-rise residential projects that significantly impact the skylines and communities they serve. Page is guided by three core values of creativity, collaboration and commitment, and a brand promise to create designs that make lives better.
Two Hermann Place Details
- 32 stories
- 295 units
Premium unit finishes and fixtures
- 10’ ceilings
- Floor to ceiling window walls in all living areas and bedrooms
- Quartz ‘waterfall’ counters and backsplashes
- Chef-inspired kitchen appliances with gas ranges
- 7’ deep balconies
- 18,000 sf of amenities
- 11,000 sf outdoor amenity deck + 2,000 sf resort pool
Multiple lounge and entertaining spaces, including:
- Ground level lounge and cafe
- Lounge, bar, private dining and outdoor terrace at level 8
- 2,100 sf sky lounge with dining and catering facilities
- Fully equipped fitness center with various exercise machines, free weights, Yoga and spinning
- Luxury services including concierge, valet and pet salon
Modern technologies including:
- Smart access control throughout the building entrances, elevators and units
- Security cameras and surveillance
- Mobile device compatibility with unit entrances and controls
- Destination dispatch elevators
- Structured parking, private garages and electric vehicle (EV) charging stations
- Storage systems including smart lockers and secured indoor bicycle rack systems