ZOM Texas starts development on a 431-unit luxury apartment community in the prestigious Tanglewood neighborhood, adjacent to the affluent Galleria/Uptown district in Houston
ZOM Texas, regional affiliate of ZOM, a leading luxury multifamily real estate developer, commenced construction on The Hudson, an architecturally distinctive residential community in the Tanglewood/Galleria/Uptown market. The project is a joint venture with an investor account advised by the real estate business of UBS Global Asset Management. The Hudson will feature 431 spacious, well-appointed apartment homes, developed on a high visibility 5.3 acre site located on Fountain View Drive at San Felipe Drive, immediately adjacent to a planned retail center anchored by an upscale gourmet HEB Market, with convenient access to the 610 Loop – providing quick commutes to downtown Houston, the Texas Medical Center and other major employment hubs.
“ZOM continues to pursue multifamily development opportunities in Texas, with a particular focus on the Houston market, based on compelling long term trends,” noted David Kubin, Senior Vice President for ZOM Texas. “With Houston currently ranking #2 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.”
The Hudson will be a four- and five-story wrap with a 7-level parking garage, and an elaborate motor court, thoughtfully planned around three centrally located and lushly landscaped courtyards. Residents will enjoy a highly amenitized, hotel-style experience with common areas ideally designed for both entertainment and relaxation. The amenities will feature an e-lounge, golf simulator, membership-quality fitness center with classroom facilities for spinning, yoga, Pilates and aerobics classes, along with a dedicated dog park with pet salon.
ZOM Texas, headquartered in Dallas, has previously developed seven projects in Texas. The Hudson is ZOM’s third project in Houston, and thirty-eighth project for the company overall.
Stanford Construction will serve as general contractor and ZRS Management, LLC has been retained to provide property management services. Pre-leasing will commence in Q1 2015.
ZOM is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed over 12,000 apartment units nationwide, with an aggregate value in excess of $2 billion. Throughout its 30 year history, ZOM has garnered more than 100 industry awards including recognition for project design and development expertise. ZOM was awarded the highly coveted Pillars of the Industry award by the National Association of Homebuilders for developing the “Best Garden Apartment Community” in 2010. ZOM is headquartered in Orlando and has regional development offices in Fort Lauderdale, Dallas, and Washington D.C. ZOM currently has over 3,000 units in development. For more information on ZOM’s multifamily portfolio, visit www.zomusa.com.
UBS Global Asset Management's Global Real Estate business actively manages real estate investments globally and regionally within Asia Pacific, Europe and the US, across the major real estate sectors, making it one of the largest real estate managers worldwide. Its capabilities are focused on core and value-added strategies, but also include other strategies across the risk / return spectrum. These are offered on a global, regional and country basis and through open- and closed-end private funds, customized investment structures, multi-manager funds, individually managed accounts and real estate securities. For more information on UBS, visit www.ubs.com.