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Opportunity Zone Investments: Fund II

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Fund II is a $200 million fund we launched in 2021. Fund II includes the Icon, Echo, Gifford Place and Keystone ground-up development projects, all located in Downtown San Jose, California. Icon is a roughly 500,000-square-foot office high-rise, while Echo is an adjacent, 388-unit apartment tower. Both are located along Santa Clara Street, San Jose’s main drag, and across the street from City Hall and a future Bay Area Rapid Transit (BART) station. We broke ground on Keystone, our 176-key extended-stay Marriott TownePlace Suites, in January 2023. Gifford is a 169-unit senior living project about a block away from Keystone.

opportunity zone map

What is a QOZ?

Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in communities throughout the country by providing tax benefits to investors who invest eligible capital into these communities.

Hear It Directly From Our Investors

“...the ease and accessibility of OZ investing make it stand out as both a way to reduce taxes while playing a role in revitalizing neighborhoods."
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Marcel B.Engineering Manager
"I’m really optimistic about San Jose and I think San Jose is going to come back strong. Many tech companies are expanding there, including my company, Google."
suresh
Suresh R.Engineer at Google
“This investment is a very good opportunity to potentially capture some of the growth (of San Jose) and also help minimize the capital gains tax, so that’s a powerful combination."
david
David C.CEO and Real Estate Investor
“When I see what Google is trying to build, and what Urban Catalyst is doing on top of this, it really got me excited. I want to be part of that.”
dave
DAVE K.VP at a Biotech Company

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