Construction is moving ahead for Paseo, a mixed-use commercial building that replaced the former Camera 12 Theater at 201 South Second Street in Downtown San Jose, Santa Clara County. The project has already announced three tenants, with 75,000 square feet of office space still available. The project is part of the Opportunity Zone Fund I by Urban Catalyst.
Construction has topped out with the steel framework in place. A recent image shared by Urban Catalyst shows that crews are preparing to start work on interiors. HGA Architecture is responsible for the redesign.
The five-story building will yield over 100,000 square feet with roughly 25,000 square feet of retail and 75,000 square feet of Class-A office space. The first of three tenants to sign for Paseo was Urban Putt, a miniature golf company to occupy 13,000 square feet. The next tenant is Unofficial Logging, an ax-throwing establishment to settle in 6,800 square feet.
The newest tenant will be Eos & Nyx, 4,000 square feet restaurant with 20-foot high ceilings. Eos & Nyx will be the fourth establishment by Paper Plane Group, the company behind the successful Original Gravity Public House, Paper Plane, and Miniboss. While Paper Plane Group has a successful track record in downtown San Jose drinking establishments, E&N will be the first venture with a full-scale restaurant.
Construction is expected to finish by Fall this year, with the restaurant opening in 2023. Swenson is the general contractor.
The project is just one of several being built by Urban Catalyst. Five other projects have been funded from the $131 million Opportunity Zone Fund I, including Delmas Senior Living, TMBR @ Downtown West, The Mark, the Fountain Alley Building, and Keystone @ Downtown West. UC has already launched a second fund, with information available about just one massive project, Icon/Echo. The firm is also working with Aedis Architects on Apollo, an 18-story residential tower by Diridon Station.