Business View Civil and Municipal | Volume 2, Issue 9

12 CIVIL AND MUNICIPAL VOLUME 2, ISSUE 9 “Bringing this mix of new retail and office into a long-shuttered building is the very definition of urban revitalization.” “We are almost 100 percent leased on the entire retail portion of this project in one of the most dynamic neighborhoods in the city,” said Josh Burroughs, Partner and Chief Operating Officer at Urban Catalyst. “The leasing interest has just been phenomenal and speaks volumes to the strength of downtown and this prominent location.” The project was designed by local architects HGA & ArcTec and the general contractor for the project is Swenson Builders. Post construction, the office and retail will be property managed by MCM Diversified. Nick Goddard with Colliers International is the retail leasing broker, and Jeff Arrillaga with Newmark is the leasing broker for the office component of the project. Construction financing was arranged in coordination with Jordan Angel of JLL. The Paseo project was part of Urban Catalyst’s Fund I, which closed in December after raising $131 million in investments. Urban Catalyst’s Fund II is raising $200 million and is now open to investors. This fund will also focus on office and residential development in the heart of downtown San Jose. About Urban Catalyst Urban Catalyst is focused on ground-up development projects in downtown San Jose. In 2020, Urban Catalyst surpassed their fundraising goal, securing $131 million from investors during its first round. Forbes and the Sorenson Impact Center recognized Urban Catalyst as one of the top 10 Opportunity Zone Funds in the inaugural Forbes OZ 20. We are almost 100 percent leased on the entire retail portion of this project in one of the most dynamic neighborhoods in the city