SAN JOSE, Calif., October 27, 2021--(BUSINESS WIRE)--Urban Catalyst submitted its formal application Tuesday with city planning officials for a 497-unit housing development in downtown San Jose, in partnership with local architect and entrepreneur Thang Do, CEO of Aedis Architects. The Apollo project will bring an 18-story residential high rise to 32 Stockton Ave., at the corner of West Santa Clara Street.
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Urban Catalyst Submits Formal Application For 497-Unit Housing Development in Downtown SJ. Rendering by Aedis Architects
The Apollo project is not part of either of Urban Catalyst’s Opportunity Zone funds, which raise investor dollars for a variety of developments in downtown San Jose.
The residential housing will be built in a key downtown location, near the Diridon train station, the SAP Center and the coming Google mega-campus. The site is across the street from a Whole Foods store and just a short walk from many businesses along The Alameda.
"The Apollo is another step to address the housing crisis in Silicon Valley," said Erik Hayden, CEO and managing partner of Urban Catalyst. "When we build high-density residential units in a transit-oriented location, we are building to meet the needs of today and tomorrow."
In addition to its prime location, the Apollo will deliver on amenities. The property will feature a spa, an infinity pool with a see-through bottom above the main entrance, co-working space and two separate rooftop lounges. And it will be built with a post-Covid world in mind.
"The Apollo will feature quiet working spaces designed for the new hybrid work-from-home model," said Josh Burroughs, Urban Catalyst’s chief operating officer and partner. Burroughs said the project will include ground-floor retail space as well.
Said Do: "This is such a prominent site in downtown San Jose, we wanted to create a building with a strong presence and much vibrancy at the street level. And, at the same time, a lush, green oasis on the amenity terrace to serve the residents."
About Urban Catalyst
Urban Catalyst is focused on ground-up development projects in downtown San Jose. In 2020, Urban Catalyst surpassed its fundraising goal, securing $131 million from investors during its first round. Forbes recognized Urban Catalyst as one of the top 10 Opportunity Zone Funds in the inaugural Forbes OZ 20.
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