San Jose Planning Commission in the US has given approval to Urban Catalyst, the Opportunity Zone Fund of Silicon Valley, to construct an extended-stay Marriott hotel in San Jose’s Downtown West.
Situated at 491 W. San Carlos Street, this eight-storey Marriott TownePlace Suites business hotel will be a short distance from Google’s Downtown West mega-campus.
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The 185,000ft2 hotel will feature 175 suites and on-site parking. Each room will have a kitchen.
The average stay for guests will be 15 nights, claimed Urban Catalyst.
The hotel is considered to be among six ground-up projects in Urban Catalyst’s Fund I, which closed on 30 December with $131m in investments.
Urban Catalyst has begun accepting investments for its Fund II, which will be used to construct office and multifamily projects in downtown San Jose.
Urban Catalyst founder and CEO Erik Hayden said: “We appreciate the support of the Planning Commission and are excited to see this project moving forward quickly.
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By GlobalData“As the only extended-stay option in the core of downtown San Jose, this hotel–neighboring Google’s mega-campus and adjacent to the SAP Arena and the Diridon Station–will be a tremendous asset to the city.”
The hotel, which was designed by BDE Architecture in coordination with local architect Studio Current, is expected to be finished next year.
Urban Catalyst chief operating officer and partner Josh Burroughs said: “We recognized the need for additional extended-stay lodging in the area given the expansion of Silicon Valley technology companies, along with new businesses—even with the pandemic.
“This hotel is in a prime location—just steps away from Adobe’s expanded headquarters and Google’s recently approved mega-campus.”
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Urban Catalyst gets planning commission nod for extended-stay Marriott Hotel in Downtown Westx. Credit: Business Wire
