Houston's Inner Loop Lands Another Multifamily High-Rise
Houston's Inner Loop multifamily market is on the rise, literally. Nitya Capital and Tema Development will add to the Bayou City's skyline with a 32-story luxury apartment tower in Houston's Museum District. The building will offer 295 residential units with 13 bespoke floor plans. Future residents will have a resort-style pool with a sunbathing ledge and cabanas, a top floor sky lounge, a café bar, an 11K SF amenity deck on the eighth floor, a conference area, a dog park, a barbecue area and a fitness center overlooking the park. Groundbreaking is scheduled for the first quarter of 2020, according to the release.
The development is a slight change of pace for Houston-based Nitya Capital. The firm's multifamily strategy focused on acquisitions and value-add deals, amassing a 17,000-unit multifamily portfolio.
The Inner Loop, particularly the Midtown/Montrose areas, have led the metro in development activity for years, but this year, Katy took the crown as Houston's most active apartment construction submarket.