A new rendering has been released for a large mixed-use development at 147 East Santa Clara Street, located across from city hall in Downtown San Jose. The details come from Urban Catalyst, who earlier this year launched the Urban Catalyst Opportunity Zone Fund II LLC, or “Fund II.” Fund II will focus on building multi-family rentals and office buildings in Downtown San Jose over a ten-year timeline with a minimum investment of $250,000.
A traffic report application was filed for the development in 2020, showing plans for 415 units, retail, and 525,000 square feet of development. The project has been moderately scaled back, with Urban Catalyst’s website describing their proposal for over three hundred units and 450,000 square feet of modern offices.
An earlier iteration of the project, taking up just the corner parcel at 147 East Santa Clara Street, shows a 21-story Jenga tower on top of a black-clad podium. The inspired design by Mayberry Workshop has since been replaced by a much larger 23-story full block proposal. The building location is right across from city hall, the future downtown BART station, and the nearly-complete MIRO apartments at 167 East Santa Clara Street.
Development permits are not filed yet, and a construction schedule has not been announced. Urban Catalyst was recently in the headlines after closing Fund I, with $131 million for several projects across the city, including the Bank of Italy.