SAN JOSE, Calif.--(BUSINESS WIRE)--Paper Plane Group, a sponsor of innovative cocktail, dining, and entertainment concepts, is bringing an exciting new restaurant venue to Urban Catalyst’s Paseo in downtown San Jose, it was announced today.
To be called Eos & Nyx (the Greek Goddesses of “Dawn and Night”) the restaurant will offer brunch, lunch, and dinner as well as cocktails and will join earlier lessees Urban Putt and Unofficial Logging in the space. The Paseo is a mixed-use development that is transforming what was once a shuttered movie theatre into dynamic retail, restaurant, and office space. The new establishment will front both South Second Street and the Paseo de San Antonio as part of an emerging “Restaurant Row.”
“With this project we are adding to what is quickly becoming one the city’s most exciting restaurant and entertainment destinations,” said Erik Hayden, co-founder of Urban Catalyst. “The Paper Plane team has an established track record of creating and managing successful cocktail and dining concepts. We’re delighted to welcome them to the Paseo and to Restaurant Row.”
“We are bullish on downtown San Jose and love the space at the Paseo,” said Dan Phan, owner, at Paper Plane Group. “With its 20-foot ceilings and Restaurant Row location this is a unique building. It offers a great opportunity to expand our dining and entertainment portfolio.”
The Paseo development is one of six projects in downtown San Jose funded through Urban Catalyst’s first Opportunity Zone fund, which closed in December 2021 after raising $131 million. In addition to ground floor restaurants, current leasing opportunities at the Paseo include 25,000 square feet of retail space and 75,000 square feet of Class-A office space. Project construction is expected to be completed Fall 2022. It is anticipated that new Paper Plane restaurant will open in the Spring of 2023.
Urban Catalyst is currently accepting investments for its Fund II, which will develop office and residential buildings along the main business strip in downtown San Jose.
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
