"Erik Hayden, a Bay Area real estate executive who is one of the busiest developers in downtown San Jose, recently opened a new 176-room Marriott TownePlace Suites hotel on West San Carlos Street, and landed $112.5 million in construction financing for a nearby 278-unit apartment complex known as Aquino that will have an overall project cost of $135 million. Hayden, founder and managing partner with Urban Catalyst,"
"The question that folks have been asking is when is downtown San Jose going to get that it factor. A couple of times we thought downtown San Jose had that it factor. One was right before the 2008 crash. Then it came on pretty strong between 2011 and 2020, peaking in 2019. The nightlife in downtown San Jose has really improved over the last 20 years. This is as good as I've seen it. There are things to do downtown now that it didn't have before."
Erik Hayden opened a 176-room Marriott TownePlace Suites and secured $112.5 million in construction financing for the 278-unit Aquino apartment complex, a $135 million project. Hayden is founder and managing partner of Urban Catalyst. Downtown San Jose's nightlife and amenities have improved significantly over the last 20 years and peaked around 2019. The area previously functioned largely as an office park with restaurants open mainly for breakfast and lunch. Current conditions show vibrant nighttime activity but a deficit of daytime office workers. Major challenges include attracting more office return and addressing homelessness, particularly in St. James Park, amid elevated costs and high interest rates.
Read at www.mercurynews.com
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