Is the Hines investment a sign of things to come?
March 8, 2022 | Erik Hayden | Urban Catalyst
I started Urban Catalyst in 2018 because I saw the potential of San Jose. We scooped up properties before all the big developers and tech companies could acquire them, put together a strong team, and then we built out our plan.
As a result, we now have nine ground-up projects in the works throughout downtown San Jose.
We’re by no means the only developers that have seen the promise of San Jose. Boston Properties, Westbank and Jay Paul are among the area’s active developers whose names regularly pop up in the news.
One name I was particularly happy to see in the news recently is Hines. Hines is a Houston-based developer with projects around the globe, and the company recently bought the former Pavillion shopping center at 150 S. First St., next to our Paseo project.
Hines paid nearly $60 million for the building, which has been used most recently as a data center. The developer’s investment in downtown San Jose can only be perceived as a good sign. Hines also recently acquired about 30 acres in east San Jose, where it reportedly plans to build an industrial and research site.
We see more of the larger developers investing in San Jose in the near future. We don’t view these other developers as competition here in downtown San Jose. We see all of us sparking this incredible revitalization of a classic city. So let’s all welcome Hines to the neighborhood.
To learn more about how you can be a part of the San Jose story, contact us today.
About Urban Catalyst
Urban Catalyst Opportunity Fund LLC (“Urban Catalyst”) is a real estate development Fund focused on properties located in the downtown San Jose Opportunity Zone, in the heart of Silicon Valley.
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