AJ Capital Partners Announces Plans for Wedgewood Houston Apartment Project
Written by Ian Bradley
AJ Capital Partners has announced plans for a multifamily residential property, Memoir Residential, in Wedgewood Houston.
The Nashville-based development firm will construct the 273-unit project at 1125 Fourth Ave. S. Davidson County records show the company, through an affiliated business, bought the property as part of a larger parcel of land in 2019 for $25 million.
"Memoir is AJ Capital’s first branded multifamily residential platform. We are taking the same approach we use for hotels, mixed-use communities, and entertainment venues – leading with hospitality-minded principles and history," - Anil Bhagat, Managing Director of Memoir Residential. "Our goal is to craft intentional spaces that people want to spend time in and also seamlessly blend into the existing fabric of a neighborhood."
AJ Capital is a driving force behind the neighborhood's transformation. The company, which owns over 17 acres in the area, has designed much of Wedgewood Houston’s main commercial block in its image.
The Nashville location of Memoir Residential is slated to open in 2024. When completed, the property will offer studio, one-, two- and three-bedroom layouts. The building will also include furnished residences for short-term rental – 15 days minimum – and unfurnished for long-term, traditional leases. The space will offer entertainment areas, a swimming pool, fitness studios, bike storage, pet grooming stations and coworking spaces.