SAN JOSE, Calif.--(BUSINESS WIRE)--Urban Catalyst, a premier Silicon Valley real estate equity fund, has received a unanimous approval from the City of San Jose’s Planning Commission for Urban Catalyst Opportunity Zone Fund II, LLC (“Fund II”) projects, Icon/Echo.
Icon/Echo is a new office and multifamily project proposed for construction in downtown San Jose by Urban Catalyst, which is now greenlighted to move forward to the San Jose City Council for final review.
“We are grateful to the Planning Commission for this approval and are pleased to be moving forward with the next phase in the process,” said Erik Hayden, Founder and CEO of Urban Catalyst. “With all the great things happening in our city, it’s an exciting time to be building in downtown San Jose.”
Icon is a proposed 500,000 square foot office building and Echo is a 389-unit multifamily apartment building. The planned project will be located on Santa Clara Street, across from City Hall and next to the future Bay Area Rapid Transit (BART) Station, making it the epitome of a transit-oriented development. Both will be funded through Fund II, which remains open to investors.
In addition to Icon/Echo, Urban Catalyst currently has six other projects underway 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) funds raised and was named by Forbes to the prestigious OZ Top 20 list as one of the top OZ Funds in the country.
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.
