Urban Catalyst, a San Jose-based opportunity zone fund sponsor, has launched its second real estate fund, Urban Catalyst Opportunity Zone Fund II LLC, which seeks to raise $200 million by December 24, 2024.
Urban Catalyst’s first fund closed in December 2020 after raising $131 million to construct seven development projects.
The second fund will include the Icon/Echo project, a mixed-use development located in downtown San Jose with more than 300 multifamily rental units and 420,000 square feet of office space.
Icon/Echo will be located at Fourth and Santa Clara Streets, within close proximity to City Hall, San Jose State University, and the future Bay Area Rapid Transit station.
“This project has an ideal location in downtown San Jose on the main drag next to a mass transit station,” said Erik Hayden, founder of Urban Catalyst. “We are utilizing some of the best architects in the country to design a beautiful building that has fantastic functionality for our future tenants.”
Urban Catalyst is focused on ground-up development projects in downtown San Jose.