Urban Catalyst, an opportunity zone fund focused on ground-up development projects in Northern California’s Silicon Valley, has received a site development permit approval for the Fountain Alley Building.
The milestone also includes a Vesting Tentative Tract Map approval. Urban Catalyst also submitted its building permit package to the City of San Jose on the same day. It typically takes developers six months to submit for building permits after planning approval. Groundbreaking is scheduled to start in second quarter 2021.
“The Fountain Alley Building is one of the first of Urban Catalyst’s many projects that will help with the revitalization of downtown San Jose,” said Erik Hayden, founder of Urban Catalyst. “We opted to take a proactive approach to the development process — simultaneously creating construction documents while seeking planning approval. The reason being that we have confidence in the city’s development process and city leaders’ goals
