Uptown renters: Were you planning on staying in your apartment for a while?
A sharp-eyed reader notes that ZOM — the developer of the Bel Air on Allen Parkway and the new Katrina Memorial apartments planned for Revere St. near Kirby and Westheimer (pictured above) — is also planning a 250-unit apartment complex somewhere near the Galleria. The company’s going to stick with its strategy of buying existing apartment complexes, demolishing them, building newer apartments in their place, and then selling them off, ZOM’s Trip Stevens tells Globe St.‘s Amy Wolff Sorter:
“It’s the only way to go in that submarket,” Stevens says. But then he adds real news:
Stephens says ZOM will do the same thing to get its third Houston project into the Galleria submarket. He says the closing for the existing apartment complex should occur late in the first quarter. The plan is to start scraping the three-acre site around midyear.
That’s information a few Galleria-area renters who live in three-acre apartment complexes will probably want to know.