Urban Catalyst submits plans for Fountain Alley Building site development permit
Plans include designs for the largest rooftop bar in San Jose
SAN JOSE, Calif., Sept. 25, 2019 /PRNewswire/ -- San Jose-based Urban Catalyst, a multi-asset Opportunity Zone Fund, announced today that they have submitted a site development permit for their Fountain Alley building located at 26 and 30 South 1st Street in downtown San Jose. Plans include designs for a 5,000-square foot rooftop bar, on track to be the largest in San Jose.
"The rooftop bar will be a timeless and memorable place," says architect Jeff Current of Studio Current. "As designers of the building, we look forward to creating a vibrant outdoor space that brings energy to the neighborhood and takes advantage of our amazing weather in San Jose."
An adaptive reuse of a historic building, the property will include 73,000 square feet of office space and 14,000 square feet of retail space located on historic Fountain Alley next to the Bank of Italy office tower (already under wide-ranging renovation and revival), 200 feet from the home of the future BART Station, and close to VTA. Pre-zoned and pre-general planned for mixed-use, the location will break ground in 2021 with completion scheduled for 2022.
"Working closely with the city, we are excited to see our vision for the Fountain Alley project move closer to becoming a reality," says Urban Catalyst Founder, Erik Hayden. "The active reimagining of this building is key to revitalizing the area."
The planned development will also include 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.
"It is important to our strategy to provide new opportunities for the community," says Urban Catalyst Executive Vice President Paul Ring. "This property and the rooftop bar will provide a fantastic space that will bring life and business into the heart of downtown San Jose."
With five acquisitions in the downtown San Jose opportunity zone and a team of skilled, local professionals, Urban Catalyst is rapidly advancing its holistic strategy to turn opportunity into impact while remaining focused on being a positive catalyst in the community.
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/.
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SOURCE Urban Catalyst
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