SAN JOSE, Calif.--(BUSINESS WIRE)--Urban Putt has been described as a “best first date spot” and the “new ‘go to’ place”; now the indoor miniature golf/restaurant/bar is coming to downtown San Jose.
Urban Catalyst, San Jose’s premier Opportunity Zone fund, announced that Urban Putt has signed a lease in its Paseo development. The Paseo project is transforming the long-dormant Camera 12 theater into 100,000 square feet of mixed-use office and retail space.
“Our goal is to activate downtown San Jose, and this is a great first step,” said Erik Hayden, CEO and founder of Urban Catalyst. “Urban Putt will provide a unique experience for visitors from the South Bay and beyond. And this is just the beginning of our plans for lighting up the Paseo de San Antonio.”
Urban Putt locations can be found in San Francisco and Denver. Both businesses serve food and drinks, and both have received overwhelmingly positive reviews from customers. The Bay Area CBS station labeled the location there as a “great backdrop for a first date.”
“We can’t wait to bring the custom-built Urban Putt experience to downtown San Jose,” said Steve Fox, Urban Putt’s founder and Chief Greenskeeper. “San Jose will get a fun destination that’s perfect for a broad range of folks, from entire families on weekends to millennials enjoying a night out, from students at nearby San Jose State University to team-building events and company celebrations.”
The Paseo development is one of six ground-up projects in downtown San Jose funded through Urban Catalyst’s first Opportunity Zone fund, which closed in December after raising $131 million. Construction is expected to be completed by July 2022.
“Nearly all 25,000 square feet of retail space at Paseo has already been spoken for,” said Josh Burroughs, partner and chief operating officer at Urban Catalyst. “This is testament to the confidence we’re seeing in the future of downtown San Jose and the strength of this prominent location.”
The Opportunity Zone Program offers tax incentives to investors who put their capital gains toward projects in disadvantaged areas designated as Opportunity Zones. Urban Catalyst currently is accepting investments for its Fund II.
About Urban Catalyst
Urban Catalyst is focused on ground-up development projects in downtown San Jose. In 2020, Urban Catalyst surpassed its fundraising goal, securing $131 million from investors during its first round. Forbes and the Sorenson Impact Center recognized Urban Catalyst as one of the top 10 Opportunity Zone Funds in the inaugural Forbes OZ 20.