Urban Catalyst Opportunity Zone Fund Hires New Projects Director
Urban Catalyst, an opportunity zone fund focused on ground-up development projects in Silicon Valley, has hired Mike Walsh as a projects director to oversee the company’s preconstruction and construction work.
Urban Catalyst, an opportunity zone fund focused on ground-up development projects in Silicon Valley, has hired Mike Walsh as a projects director to oversee the company’s preconstruction and construction work.
Walsh has more than 40 years of experience in construction and real estate development in Bay Area markets. Most recently, he was with SIMEON, where he oversaw the firm’s construction and development work, including the building of a 630,000-square-foot, 21-story apartment tower in San Jose; a 145,000-square-foot condo building in San Francisco; and a multi-tenant retail center in Hayward.
“Mike has developed a wealth of construction experience during his more than 40 years in the real estate business,” said Urban Catalyst Founder Erik Hayden. “We are glad to have him on board, and look forward to the contributions he’ll make in overseeing our projects throughout the downtown San Jose opportunity zone.”
Before joining SIMEON in 2012, he was director of development with AGI Capital/Avant Housing, where he was responsible for developing 2,200 multifamily units in San Francisco and 800,000-square-feet of self-storage projects throughout the Bay Area.
Walsh began his career building nuclear power plants and hydroelectric dams, and since then, has served as a project manager for several hospital and biotech buildings and has built retail centers, office buildings, and education and medical facilities.
According to documents filed with the Securities and Exchange Commission in February 2019, the company sponsors the Urban Catalyst Opportunity Fund I LLC, a Regulation D 506(c) fund that seeks to raise $250 million.
Passed as part of the Tax Cuts and Jobs Act of 2017, qualified opportunity zones are land tracts designated by the U.S. Treasury Department and Internal Revenue Service. To incentivize private investment in these communities, the legislation creates tax breaks for investors who make qualified long-term investments that have the potential to promote economic growth in these zones.
Urban Catalyst offers a portfolio of assets through investments in seven projects that include office, multifamily, student housing, senior housing (assisted living and memory care), and a hotel.
