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Old Posted Aug 7, 2019, 12:52 AM
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cardinal2007 cardinal2007 is offline
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https://www.mercurynews.com/2019/08/...s-planned/amp/

Quote:
Downtown San Jose gas station is bought, hundreds of homes planned

SAN JOSE — A gas station at a prominent downtown San Jose corner has been bought by an increasingly busy development company that plans to construct a housing tower with hundreds of residential units.

Urban Catalyst has bought the site now occupied by a Chevron gas station at Santa Clara and Fourth streets — one of the few fuel stations in downtown San Jose — and says it is planning a mixed-use residential and retail development on the key street corner.

“We are going to do high-rise residential with quality retail on the ground floor,” said Erik Hayden, founder and managing partner with Urban Catalyst.

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https://www.bizjournals.com/sanjose/...als-broad.html

Quote:
Urban Catalyst buys gas station site, reveals broad vision for San Jose development

Urban Catalyst, an Opportunity Zone fund focused on downtown San Jose, has purchased one of the last remaining gas stations in downtown and plans to build a mixed-use residential tower in its place. The acquisition is the third of a projected 10-property blueprint Urban Catalyst has for San Jose, a vision that a firm partner detailed to the Silicon Valley Business Journal.

"The goal is to create an ecosystem" downtown, said Urban Catalyst partner Joshua Burroughs. Already, the company has two developments in the works — the Fountain Alley building next to the Bank of Italy, which is intended for offices, and a project called The Keystone, which will be a 170-room business hotel near the SAP Center and Google's planned development near Diridon Station.

Its latest acquisition is at 147 E. Santa Clara Street, where a Chevron station now sits. The lot is across the street from the Miro, a high-rise residential development that's under construction, and is a few steps away from San Jose City Hall. Urban Catalyst spent $15.9 million for the property, which has been a gas station for 50 years.

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