SAN JOSE, Calif., Dec. 4, 2019 /PRNewswire/ -- Urban Catalyst, a multi-asset opportunity zone fund based in San Jose, announced they have closed on the Knox-Goodrich building located at 36 S. First Street in downtown San Jose. The building is slated to become part of a planned project that includes a new office and restaurant development featuring an expansive rooftop bar. Urban Catalyst now owns three adjacent parcels at this location.
"This parcel provides the final piece of the mixed-use project we are planning for this property," says Urban Catalyst Founder Erik Hayden. "We are excited to create something really cool that helps activate the whole neighborhood."
Purchased from real estate development company SWENSON, construction on the site is expected to begin in the first quarter of 2021.
"Barry Swenson & Marianne Bacigalupi purchased the Knox Goodrich building over 35 years ago. They knew it was a special building and we are all pleased to see it be restored by Urban Catalyst to use as the primary lobby entrance to the new Fountain Alley building," said architect Jeff Current of Studio Current. "Many people will be able to enjoy the richness of this 1889 structure."
With a diverse set of projects in the downtown core and a team of skilled professionals, Urban Catalyst is successfully implementing its development strategy as it raises $250 million from investors.
About Urban Catalyst
Based in San Jose, Urban Catalyst is the first multi-asset opportunity zone fund in the Bay Area focusing on downtown San Jose. Employing a world-class team of experienced local professionals to build out impact investment opportunities—multi-family, office, and industrial investment projects—Urban Catalyst is focused on advancing and improving the community while earning investors advantageous financial returns. Learn more at https://www.urbancatalyst.com/.
Sarah Farrant | NINICO Communications | email@example.com
SOURCE Urban Catalyst