Riding The Waves
by Erik Hayden, on Aug 17, 2021 4:35:30 PM
The Google mega-campus planned for West Downtown San Jose is garnering loads of attention, nationally as well as locally. And while it’s impossible at this point to attach numbers to how big of a boost this will bring to the local economy, it’s safe to say that any benefits could send ripples—or, potentially more likely, waves--throughout San Jose and Santa Clara County.
We at Urban Catalyst plan to ride any waves.
Take, for instance, our Keystone project, one of several ground-up developments we’re building in downtown San Jose’s Opportunity Zone. This project will build an extended-stay Marriott hotel that’s a short walk from the coming Google complex. The San Jose Planning Commission approved the project last week, and the hotel is expected to be completed in 2023.
So while the Google development is expected to draw thousands of employees to West San Jose to work and play, our extended-stay Marriott TownePlace Suites will offer a nearby nationally branded business hotel for Google visitors. We couldn’t ask for a better neighbor.
The eight-story hotel at 491 W. San Carlos Street will be 185,000 square feet and offer 175 suites, along with on-site parking. Every room will have a kitchen. The average stay for Marriott extended-stay hotels is 15 nights.
Funds for the Keystone project were raised as part of Urban Catalyst’s Fund I, which closed in December after we raised $131 million. We currently are accepting investments for Fund II, earmarked for office and multifamily projects in the heart of downtown San Jose.
Of course, Urban Catalyst will not be alone in reaping any benefits of Google’s massive expansion into downtown San Jose. I’m hopeful that Google’s investment in San Jose will lift our entire business community and all of our residents, one wave at a time.
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