SAN JOSE, Calif., June 18, 2020 /PRNewswire/ -- Urban Catalyst, an Opportunity Zone Fund focused on ground-up development projects in Silicon Valley, today announced that it submitted a site development permit package for Madera @ Downtown West, a new 157-unit multifamily building at 498 West Carlos Street in downtown San Jose. The project, designed by AEDIS Architects in coordination with BDE Architectural, will feature apartments, along with parking and a variety of amenities, all within walking distance to the Diridon Station.
"While many other developments have have stalled during the pandemic, Urban Catalyst has not missed a beat in terms of getting our permit packages together for Madera and several other projects in our portfolio, and staying on target for starting construction in 2021," said Erik Hayden, Founder of Urban Catalyst. "Madera is our first multifamily project to be formally submitted, and will bring much needed residential housing to the heart of San Jose."
Madera is one of the first projects in San Jose to propose using cross laminated timber (CLT) construction. An alternative to concrete and steel, CLT is a prefabricated, solid engineered wood panel that is lightweight yet strong. Commonly used in Europe, CLT enables design flexibility, minimizes environmental impact and offers superior acoustic, fire, seismic and thermal performance.
About Urban Catalyst
Urban Catalyst Opportunity Fund I LLC ("Urban Catalyst") is a nationally recognized real estate equity fund focused on ground-up development projects in downtown San Jose. In 2020, Forbes and the Sorenson Impact Center recognized Urban Catalyst as one of the top 10 Opportunity Zone Funds in the inaugural Forbes OZ 20. Learn more at https://www.urbancatalyst.com/.
SOURCE Urban Catalyst