Urban Catalyst Downgrades Housing Vision in Downtown San Jose

Urban Catalyst is updating their dual high-rise proposal into two eight-story residential buildings. The project shifts from earlier office and housing concepts to focus solely on apartments, delivering 626 units across sites at 147 E. Santa Clara St. and 95 N. Fourth St. This adaptation uses wood-frame construction for efficiency and cost reduction, allowing the development to progress amid economic realities while addressing the city's housing needs.

The first phase targets the corner of East St. John and North Fourth streets near St. James Park, replacing an empty commercial property. The second phase follows at East Santa Clara and North Fourth, currently a Chevron gas station that may operate a few more years. Each building includes about 300 units and incorporates ground-level commercial and retail space along East Santa Clara Street, enhancing street activity in the area.

Leveraging Senate Bill 330 for streamlined approvals, the development requires around $300 million in investments, with costs per building estimated at $130 million to $150 million. This approach prioritizes feasibility and speed to combat the housing shortage.

Source: The Mercury News