The San Jose Planning commission has approved plans for an extended-stay Marriott hotel in San Jose's Downtown West. Opportunity Zone Fund Urban Catalyst is the developer behind the project, while BDE Architecture and Studio Current will serve as the architects.
The property will be branded extended-stay Marriott TownePlace Suites and target business travelers. The eight-story, 185,000-square-foot property will have 175 rooms with in-room kitchens and onsite parking. Guests typically stay an average of 15 nights. It is near Google's Downtown West mega-campus. The hotel will be completed in 2023.
Urban Catalyst's Fund I is active in the San Jose market. Including the hotel, it currently has six ground-up projects under construction. The Fund I closed December 30 with $131 million in investments, and the firm is now accepting investments for its Fund II. Like the first fund, the second fund will be used to build office and multifamily projects in the heart of Downtown San Jose.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
