SAN JOSE, Calif.--(BUSINESS WIRE)--Urban Catalyst, a premier Silicon Valley real estate equity fund, has received unanimous approval from the San Jose City Council for Icon/Echo, a new office and multifamily residential project scheduled to break ground in early 2023, following its unanimous approval by the Planning Commission.
“We want to thank the city council for its thoughtful consideration of our project,” said Erik Hayden, Founder of Urban Catalyst. “The progress being made in downtown San Jose is nothing short of amazing. The city in the midst of an exciting reimagining of what an urban landscape can be, and we at Urban Catalyst are delighted to be a part of it. We look forward to moving ahead with our latest project.”
Icon will bring 500,000+ square feet of office space to San Jose’s downtown market, while Echo adds 389-units of multifamily apartment housing. The two buildings will be located on Santa Clara Street, across from City Hall and next to the future Bay Area Rapid Transit (BART) Station, making them the epitome of a transit-oriented development. Both will be funded through Urban Catalyst Fund II, which is currently open to investors.
In addition to Icon/Echo, Urban Catalyst currently has six other projects underway in downtown San Jose, ranging from student and senior housing to hotel and retail/entertainment.
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