SAN JOSE, Calif.--(BUSINESS WIRE)--Urban Catalyst, in partnership with joint venture partner Thang Do, has closed on the second and final parcel of land needed to begin construction on its Apollo Project, it was announced today.
The Apollo will bring a 19-story, 472-unit housing development to downtown San Jose, designed by local architect and entrepreneur Thang Do, chief executive officer (CEO) of AEDIS Architects. The latest parcel to be acquired is 60 Stockton Avenue. An adjacent parcel, 32 Stockton, was purchased last year. Together the two properties bring the total land acquisition for the project to 1.12 acres.
“By adding high density residential units to downtown San Jose we are helping to address the housing shortage that currently exists in Silicon Valley,” said Erik Hayden, CEO and managing partner at Urban Catalyst. “With a number of attractive amenities and convenient access to mass transit we believe the Apollo project sets a new standard for residential building in the city. It is the epitome of transit-oriented development.”
The Apollo will be located near the Diridon train station, the SAP Center, and the coming Google mega-campus. The site sits across the street from a Whole Foods store and just a short walk from many businesses along The Alameda. The new building will feature a pool with a large deck, fitness center, outdoor fitness area, yoga retreat center, lounge, and courtyard. There will be two separate rooftop lounges as well as 7,600 square feet of street-level retail and dining.
The building is being designed to allow the top 16 floors of the Apollo to utilize Cross Laminated Timber (CLT), a construction technique that utilizes engineered lumber in place of concrete.
About Urban Catalyst
Urban Catalyst is a leading real estate equity fund manager and development company focused on ground-up projects in downtown San Jose, California. The company ranked among the top 5% of all tracked Opportunity Zone (OZ) fund sponsors as measured by capital raised as of December 31, 2021, according to the research firm Novogradac, and has been recognized as a top ten OZ fund by Forbes.
Urban Catalyst’s home market, San Jose, was recently named the #1 city in the U.S. for attracting innovation-oriented industries by the real estate services firm JLL and has been recognized as the #1 region in the country poised for post-pandemic recovery by Bloomberg.
For more information, visit urbancatalyst.com
