We’ve been moving ahead with our projects and hitting our milestones, which has recently generated a lot of local and national media attention.
Opportunity zones are the key to activating communities, like downtown San Jose, which has great potential to be a thriving work-live-play environment. As our nation's priorities change, investors are shifting focus, seeking to put their money to work in vehicles that offer more stability than stocks and less hassle than rental properties. Our OZ projects are garnering strong interest from investors because they offer two types of returns. In addition to the financial incentive, these projects also will transform downtown San Jose into a thriving center that ties residential, retail, small business, commercial and educational facilities together with public transportation.
Here’s how our momentum has been building:
- On the heels of being named a top 10 national OZ fund in the Forbes OZ 20 list in December 2019, Urban Catalyst recently was recognized as one of the Top 25 OZ Influencers by Opportunity Zone Magazine.
- In June, we submitted permit packages for four projects focused on senior and student housing, as well as office and retail space. The projects (Delmas, Madera, The Mark, and Paseo) represent an $850 million investment in San Jose.
- Bloomberg and Moody's recently named San Jose as one of the top cities poised to recover quickly from COVID-19's economic impact.
- We expanded our best-in-class team by hiring Angela S. Hwang as director of marketing and communications, Mike Walsh as projects director, and Dominic Giacalone as development manager.
- Sean Raft, our partner and chief administrative officer, was named to the Novogradac Opportunity Zone Working Group, which advises the U.S. Department of the Treasury, IRS, the Community Development Financial Institutions (CDFI) Fund, members of Congress and other federal and state agencies on best practices and practical applications for the OZ Program.
For more highlights and to see all the media coverage we are earning, visit our newsroom.
Interested in learning more about investing in the Urban Catalyst Fund? Contact us today.