SAN JOSE – A housing development that could emerge in a prime location in downtown San Jose has cleared a major hurdle in purchasing packages for the project near the Google proposed transit village.
Urban Catalyst has purchased several parcels through a subsidiary that together would provide the land required for the project.
UC Madera Owner, the subsidiary owned by Urban Catalyst, purchased the properties on West San Carlos Street and Josefa Street, according to Santa Clara County filings on December 23.
The developer paid $ 10.2 million for the packages, according to ownership documents.
With the purchase, Urban Catalyst has passed an important milestone in its efforts to develop the residential project.
The development would be just a few blocks from the footprint of the vast Downtown West neighborhood that Google proposed near Diridon train station and the SAP center.
“Creating high-density housing near transit is the best way to resolve the housing crisis,” said Erik Hayden, founder and managing partner of Urban Catalyst in San Jose.
Madera @ Downtown West, as the Urban Catalyst project is called, would consist of 184 residential units, according to a post on the developer’s website.
The project is expected to include studios, as well as two, three, four, four and five bedroom units, according to a post on Urban Catalyst’s website.
“This project will host over 250 people,” said Urban Catalyst’s post.