Urban Catalyst, a multi-asset Opportunity Zone Fund based in San Jose, is first to close on an Opportunity Zone project in downtown San Jose.
One of six upcoming projects for Urban Catalyst, the property located at 26 and 30 South 1st Street, will feature 65,000 square feet of office space and 11,500 square feet of ground-level retail space located on historic Fountain Alley next to the Bank of Italy office tower (already under wide-ranging renovation and revival) and 200 feet from the home of a future BART Station. Pre-zoned and pre-general planned for mixed-use, the location will be under construction by early 2021.
The planned development will include adding offices and retail, as well as a restaurant and fountain, while prioritizing the incorporation of the adjacent historic building. The six-story development is a joint effort with developer Gary Dillabough of Urban Community.