Urban Catalyst submits plans for site development in San Jose, California
September 29, 2019 – Urban Catalyst, a multi-asset Opportunity Zone Fund, has submitted its plans for a site development permit for its Fountain Alley building to be located in downtown San Jose, California.
The plan includes designs for a 5,000ft² rooftop bar, which is claimed to be the largest in San Jose if approved.
Studio Current architect Jeff Current said: “The rooftop bar will be a timeless and memorable place. As designers of the building, we look forward to creating a vibrant outdoor space that brings energy to the neighbourhood and takes advantage of our amazing weather in San Jose.”
The main property will include 73,000ft² of office space and 14,000ft² of retail space located on Fountain Alley next to the Bank of Italy office tower, which is also under renovation and revival. The place is also 200ft from the home of the future BART station, and close to Valley Transportation Authority (VTA).
Urban Catalyst founder Erik Hayden said: “Working closely with the city, we are excited to see our vision for the Fountain Alley project move closer to becoming a reality. The active reimagining of this building is key to revitalizing the area.”
The planned building will also include a restaurant and fountain. The six-storey development is a joint effort with Gary Dillabough of Urban Community.
The site has been pre-zoned and pre-general planned for mixed-use, the groundbreaking is expected to take place in 2021 and it could be completed in 2022.
Urban Catalyst executive vice president Paul Ring said: “It is important to our strategy to provide new opportunities for the community. This property and the rooftop bar will provide a fantastic space that will bring life and business into the heart of downtown San Jose.”
In August this year, Urban Catalyst acquired its fourth property in San Jose, the 147 E. Santa Clara Street. Located across from city hall and 100 yards from the future Bay Area Rapid Transit (BART) station, the project could include more than 250 units of multi-family apartments and 7,500ft² of ground-floor retail space.
Urban Catalyst is partnering with Dutchints Development managing director Vahe Tashjian on the project and is coordinating with Urban Community founders Gary Dillabough and Jeff Arrillaga on the user experience for the vertical community.