Opportunity zone fund Urban Catalyst has gotten final approval for The Mark, a student housing project in Downtown San Jose near San Jose State University. The 360,000-square-foot development has 200 units that can accommodate 850 students. The project will break ground next year, and will deliver in 2024.
San Jose State University has a student housing shortage, providing a source of demand for the project. Located at 475 South 5th St., the Mark is located near SoFA Arts District and has views of the campus. The property will feature open-air decks, interior common areas and high-speed WIFI/Internet throughout the building.
Josh Burroughs, Partner and Chief Operating Officer at Urban Catalyst, says that the property will both anchor southwestern edge of campus and offer a connection between Washington Square and the SoFA District. "These types of projects catalyze our urban environment," he said in a statement.
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Kelsi Maree Borland
