May 16, 2019 Comments (0) Views: 114 Bay Area, California News

Urban Catalyst Closes on Opportunity Zone Project in Downtown San Jose

San Jose-based Urban Catalyst closed on an Opportunity Zone project in downtown San Jose. The property is located at 26 and 30 South 1st St.,and will feature 65,000 square feet of office space and 11,500 square feet of ground-level retail space.

It is one of six upcoming projects for the multi-asset Opportunity Zone Fund. The property is located on historic Fountain Alley, next to the Bank of Italy office tower, which is already undergoing a wide-ranging renovation and revival, as well as 200 feet from the future home of a BART Station.

The planned development will include adding offices and retail, as well as 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. Pre-zoned and pre-general planned for mixed-use, the location will be under construction by early 2021.

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