SAN JOSE, Calif.–(BUSINESS WIRE)–May 12, 2022–
Urban Catalyst, a premier Silicon Valley opportunity zone fund, today opened Gifford Place, a new seniors’ residence in downtown San Jose.
Urban Catalyst founder Erik Hayden and his team open Gifford Place in downtown San Jose (Photo: Business Wire)
Formerly known as Delmas and located at 325 Gifford Avenue, the 167-unit Gifford Place is one of the first new senior living facilities to be built downtown in decades. The six-story, 175,000-square-foot building will house a mix of studios, one- and two-bedroom apartments, and memory care units. Planned facilities include restaurants, a bistro, fitness center, hair salon, nursing center and rooftop lounge.
“We anticipate significant demand for senior housing in the area as the population continues to age,” said Erik Hayden, founder of Urban Catalyst. “We are thrilled to begin work on what is clearly a much-needed resource in the community: a carefully designed assisted living facility and memory care facility that will provide residents with exceptional care and a place to be. good living. »
Joshua Burroughs, Chief Operating Officer of Urban Catalyst, added, “We believe access to downtown San Jose will be especially appealing to baby boomers who want to stay active and involved in the community while enjoying benefits of assisted living and memory care. facility. We can’t wait to start construction.
Gifford Place was designed by Aedis Architects in coordination with lead facilities specialist Lenity Architecture. It is funded by Urban Catalyst’s Opportunity Zone Fund I. Fountain Alley, focused on offices and commerce; a Marriott TownePlace Suites hotel, the TMBR apartments and the Mark, which offers student accommodation.
Urban Catalyst is a leading real estate equity fund manager and development company focused on grassroots projects in downtown San Jose, California. The company ranked in the top 5% of all Opportunity Zone (OZ) fund sponsors tracked, measured by capital raised as of December 31, 2021, according to research firm Novogradac, and was recognized as one of the top ten Best OZ Bottoms by Forbes.
Urban Catalyst’s home market, San Jose, was recently named the top city in the United States to attract innovation-driven industries by real estate services firm JLL and was recognized as the top region in the nation ready for post-pandemic recovery by Bloomberg.
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
KEYWORD INDUSTRY: PROFESSIONAL SERVICES CONSUMER RESIDENTIAL BUILDING & REAL ESTATE SENIORS FINANCE CONSTRUCTION & REAL ESTATE
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PUB: 12/05/2022 12:30/DISC: 12/05/2022 12:32
