At the Bisnow event on February 20, Urban Catalyst President Erik Hayden spoke on a panel discussing “Opportunity Zones & P3s in the Valley.” Erik was joined by City of San Jose Business Development Officer Nathan Donato-Weinstein, Owner/Principal of Studio T-Square Chek Tang, Counsel for Pillsbury Law Emily Bias and moderator Todd Blanding, Chief Investment Officer at Platform Ventures.
After San Jose Mayor Sam Liccardo’s keynote address, Erik was reminded how awesome it is to do business in San Jose. Not all mayors want “shovels in the ground” and to streamline fees. Erik feels infrastructure and the Silicon Valley job engine make San Jose the prime place for development. He spoke about hiring the best team in the country to focus on San Jose zones, hoping to activate the downtown area. With the $250 million being raised, he thinks with leverage, the years the fund is active could lead to a billion-dollar impact. Erik hopes in 10 years you will see crowds on the streets, offices bringing in jobs, and housing to solve the housing crisis.
Erik mentioned that Urban Catalyst is going to have 30-40 properties over the duration of the fund. The fund’s goal is to meet its investment objectives as an Opportunity Zone Fund and after 10 years, provide investors with a return of capital and any profits to investors.
Erik also discussed 1031 exchanges. While these are a great investment for those with real estate gains, opportunity funds allow investment from the sale of stocks and bonds, and even businesses, basically any type of Capital Gains.
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