Memoir May Hosiery will include just over 100 units, including studios, one- and two-bedrooms, as well as amenities like a rooftop pool, billiards area, communal terrace with a fire pit, and a fitness center. The ground level of the development will house Boka Restaurant Group's Momotaro and Alla Vita, a new cocktail bar, Perenn Grocery and a neighborhood bookstore called Bell Bird Books. The interior of the development was designed to blend with the historic nature of the neighboring property with industrial-style windows, brass hardware, handcrafted tile and a choice of ivory or green finishes, and the exterior features a factory-style brick façade and arched windows.

Across the street from the new project, May Hosiery Mills has drawn in several high-profile tenants over the years, including Soho House, Hermès, Pastis, and more. AJ Capital is largely known as the driving force behind the transformation of Wedgewood Houston from a sleepier industrial area to an artistic hotspot. The firm is currently under construction on several buildings that are part of AJ Capital's larger Wedgewood Village district, which spans more than 18 acres.

AJ Capitalis working with Live Nation to open a new 4,400-capacity music venue in fall of next year. Other plans for the neighborhood include new residential and retail buildings surrounding the historic Merritt Mansion. While many developments have been put on pause across the city, AJ Capital has not let the shaky economic environment slow down its plans. The firm landed several construction loans this year, totaling nearly $265 million, tied to several projects in Wedgewood-Houston. AJ Capital also pushed forward on its Belle Meade Village development, which is slated to break ground in the last quarter of 2025.

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