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**Urban Catalyst Breaks Ground on Aquino, a New Multifamily Development in Downtown San Jose**
Urban Catalyst has officially broken ground on Aquino, a 278-unit multifamily housing project located at 498 W. San Carlos Street in downtown San Jose. Specifically designed to serve the needs of the region’s growing tech workforce, Aquino is one of the first major developments to move forward under San Jose’s newly implemented Multifamily Housing Incentive Program.
Approved by the San Jose City Council in December, the program offers fee and tax incentives to qualifying housing projects. By leveraging these benefits, Urban Catalyst advanced the Aquino development at a time when many other projects in the area have been delayed due to market conditions.
Strategically located within walking distance of the Zoom and Adobe headquarters, as well as the Diridon Train Station, Aquino is positioned to meet the demand for high-quality housing close to major employment hubs and transit options.
Key project partners include BDE Architecture, Swenson Builders, Gemini Capital, Redpoint Capital Advisors, and Beach Point Capital.
“With rent growth at historic highs and no new market-rate multifamily developments in downtown San Jose in the past two years, delivering high-quality housing is both challenging and essential,” said Erik Hayden, founder of Urban Catalyst.
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