Source: Urban Catalyst
SAN JOSE, CA - San Jose-based Urban Catalyst, a ground-up real estate development firm focused on opportunity zones, submitted preliminary plans to the City of San Jose for their senior living facility—Delmas @ Downtown West. The project is a joint venture with the CEO of San Jose-based Aedis Architects, Thang Do. Located in the heart of downtown San Jose next to Diridon Station, the largest multi-modal transit hub on the West Coast, the project is adjacent to Urban Catalyst's recently announced multi-family apartment project—Madera.
"An assisted living/memory care facility like this hasn't been built in downtown San Jose in nearly 35 years and is badly needed in our area at this point," said Urban Catalyst Founder Erik Hayden. "Delmas @ Downtown West will give the baby boomer generation in San Jose a place to age gracefully."
With a shortage of senior housing locally, this senior living project is a crucial step in addressing the critical need for assisted living and memory care. Located at 470 W. San Carlos Street in downtown San Jose, once completed, Delmas will provide 52 units of Memory Care and 23 units for Assisted Living. Future amenities will include a hair salon, theater, dining room, spacious rooms with partial kitchen, a wellness center, library, and outdoor courtyards on multiple floors. The project is scheduled for groundbreaking in Q4 2020.
"Providing housing so close to a transit hub is an ideal way for us to ensure a more sustainable option for seniors and their loved ones," said Paul Ring Urban Catalyst Partner and EVP of Development & Construction.
This partnership with Do adds to Urban Catalyst's development effort in the downtown San Jose Opportunity Zone. In line with the company's concentrated approach of focusing on projects within walking distance of each other—an impact strategy unique to Urban Catalyst—Delmas puts together one more piece of the puzzle. The company is quickly acquiring a diverse set of projects in the downtown core as it rapidly closes in on a goal of raising $250 million.
"Everyone deserves access to downtown San Jose's amenities. Adding a senior living option to downtown is a great way to provide access for all age groups," said Do. "Partnering with the Urban Catalyst team, I look forward to creating a vibrant and more diverse urban environment everyone can enjoy."