Urban Catalyst Opportunity Zone Fund II

Building on the success of Fund I, which closed in 2020 after raising $131 million, Urban Catalyst launched Urban Catalyst Opportunity Zone Fund II, LLC (“Fund II”) in 2021. Fund II features a diverse portfolio of ground-up development projects in Downtown San Jose, including multi-family towers called Icon and Echo, a Marriott TownPlace Suites hotel named Keystone, and a senior living facility called Gifford Place.

For the Icon and Echo project, Urban Catalyst plans to redevelop one side of a city block near San Jose City Hall into multifamily buildings. Icon will comprise approximately 650 units, while Echo will feature nearly 400 units. Urban Catalyst’s demolition subcontractor began clearing the Keystone site in February 2023, with plans to complete the 176-key hotel by the first quarter of 2025. For Gifford Place, Urban Catalyst demolished the project site in May 2022 and is currently seeking construction financing to move forward with the 169-unit senior living project.