Home > multifamily, New Construction, Uncategorized > Another luxury apartment complex will break ground in the Galleria area.

Another luxury apartment complex will break ground in the Galleria area.

January 24, 2014 Leave a comment Go to comments

 

The 431-unit complex, called The Hudson, will be developed by Zom Texas, the Dallas-based regional affiliate of Orlando-based Zom. The Hudson will be on 5.3 acres located at Fountain View Drive and San Felipe Street, adjacent to a planned retail center to be anchored by an upscale H-E-B

Dallas-based Stanford Construction Inc. will serve as general contractor and Orlando-based ZRS Management LLC. will be the property manager. Preleasing will begin in the first quarter of 2015.

“Zom continues to pursue multifamily development opportunities in Texas, with a particular focus on the Houston market, based on compelling long-term trends,” David Kubin, senior vice president of Zom Texas, said in a release. “With Houston currently ranking number two in the U.S. job market, and the anticipated robust job growth over the next five years, we niche into this market with a carefully researched, unique product and mix.”

Zom Texas has developed seven projects in Texas, mostly in Dallas. The Hudson is its third project in Houston.

The Hudson will be a five-story building surrounding three landscaped courtyards, and will also include a seven-level parking garage. Amenities will include an e-lounge, golf simulator, fitness center, dog park and pet salon.

The project’s architect and completion date were not readily available. The project is a joint venture with an investor account advised by the real estate business of UBS Global Asset Management.

The Galleria area has seen a surge in multifamily developments in recent years, in particular high-rise luxury condos. During August 2013, Indiana-based WhiteCo Residential opened its 5250 Apartments, adding more high-rise inventory to the Galleria submarket.

The Greater Houston Partnership predicts approximately 60,000 new apartment units will be built in the next five years as the multifamily market tries to accommodate an influx of new residents to the area.

Reprint from Houston Business Journal     by Jenny Aldridge – Reporter

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