When Google opens its huge mega-campus in San Jose’s Downtown West, visitors will have a great new hotel where they can stay.
The San Jose City Council unanimously approved Urban Catalyst’s plans to build an extended-stay Marriott just a short walk from Google’s planned campus. We expect our Keystone project will be completed in 2023.
We hope to make this new hotel a great landing spot for business visitors, whether they’re meeting with Google or any other nearby tech company based in San Jose. There will be approximately 175 suites on 185,000 square feet, with on-site parking and other standard amenities.
The council vote is the latest step forward in our plans to help revitalize downtown San Jose. Along with this nationally branded Marriott TownePlace Suites business hotel, we are actively moving forward in developing five additional ground-up projects that will bring new residential, office and retail space to downtown San Jose.
Google and Urban Catalyst are by no means alone in developing Downtown West. Caltrain recently announced plans to build two towers--with 1.1 million square feet of office space--near Diridon Station.
The Marriott hotel is among the developments included in our Fund I, which closed Dec. 30 with $131 million in investments. We are currently accepting investments for Fund II, with those investments going to build office and multifamily projects in downtown San Jose.
If you are thinking about investing, don’t wait too long. The potential 10% reduction of capital gains taxes disappears on Jan. 1, 2022. Contact us to learn more.
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