Interim funding has been secured for a proposal at 486-498 West San Carlos Street in San Jose, Santa Clara County. The developer, Urban Catalyst, received a $6.1 million loan to pursue the construction of Aquino, an eight-story apartment complex with nearly three hundred homes close to Diridon Station.
Urban Catalyst has received a $10.5 million loan to finance the pre-construction phase of Icon/Echo, a two-tower proposal at 147 East Santa Clara Street directly across from City Hall in Downtown San Jose. The plans will bring hundreds of homes across two acres, with construction now expected to start in one to two years. Gantry is responsible for providing the finance.
Urban Catalyst has purchased the final parcel needed for the Icon/Echo master plan in Downtown San Jose. The sale comes just over a month after the developer revealed plans to change the office component to housing, increasing the potential housing capacity from a few hundred to over one thousand units. New renderings shared by Urban Catalyst provide a preliminary glimpse at the design.
Urban Catalyst is now considering adjusting plans for Icon/Echo by replacing the office component with more housing in Downtown San Jose, Santa Clara County. The plan was floated by the developer founder, Erik Hayden, and reported by George Avalos for the Bay Area News Group. If altered, Icon/Echo could create over a thousand units from the two-acre parcel.
Urban Catalyst is preparing for vertical construction on Keystone, their extended-stay hotel at 495 West San Carlos Street in San Jose by Diridon Station. The eight-story Marriott TowneSuites Hotel is the only of its type under construction in the city, responding to demand from the city’s construction industry, conferences, and concerts. Completion is expected by 2025.
