Student housing tower in downtown San Jose clears final city hurdle

SAN JOSE — A student housing tower proposed for downtown San Jose’s up-and-coming SoFA district has won final approval from city officials and is slated to begin construction next year.

The Mark, a 20-story residential highrise, would bring hundreds of housing units to San Jose if the project is built and completed as expected.

The city’s Planning Commission this week cleared away the final hurdle for the project after the panel rejected an appeal aimed at blocking the development.

The Mark tower would consist of 222 units and is expected to house more than 850 students, according to its developer, Urban Catalyst.

“Our goal is to offer students a robust off-campus experience that complements their educational experience,” said Erik Hayden, founder and managing partner with Urban Catalyst.

Groundbreaking for The Mark is slated to begin in 2022 and the project is scheduled to be completed by the fall of 2024, in time for San Jose State University students to take up residence in the tower.

“The Mark will help address the long-term problem of an off-campus housing shortage around SJSU,” Hayden said.

Urban Catalyst was formed to create funds that can capitalize on tax advantages provided by opportunity zones in places such as downtown San Jose.

The development and construction of the Mark are being underpinned by one of these funds.

“We look forward to anchoring the southwestern edge of campus, creating a high-density off-campus connection between Washington Square and the SoFA District,” said Joshua Burroughs, a partner and chief operating officer with Urban Catalyst.

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The SoFA district of downtown San Jose is an emerging neighborhood that features arts, entertainment, theater, cultural, live performance, dining and drinking options. Urban Catalyst hopes The Mark will bolster such activities downtown.

“These types of projects catalyze our urban environment,” Burroughs said.

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Source:: The Mercury News – Entertainment

      

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