SAN JOSE, CA – Urban Catalyst, Silicon Valley’s premier Opportunity Zone Fund, announced it has secured its special-use permit and vesting tentative tract map for The Mark, a student-focused high-rise apartment tower to be located downtown a block from San Jose State University.
With its central downtown location, The Mark was designed to help ease SJSU s off-campus housing shortage and provide students with stellar living conditions just a small walk from their classes. The complex, at 475 South 5th St., will feature more than 200 multifamily apartment units that can house over 850 new residents in the Bay Area s largest city. In addition to its proximity to the university s main campus, the project is near the vibrant SoFA Arts District in downtown San Jose.
The concrete and protected steel structure will include multiple outdoor amenities such as open-air decks, as well as student-ready interior common areas and views of the city and SJSU campus. The new community will be constructed with first-class materials and will feature high-speed WIFI/Internet throughout the building.
Our goal is to offer students a robust off-campus experience that complements their educational experience, said Erik Hayden, Founder of Urban Catalyst. And, importantly, The Mark will help address the long-term problem of an off-campus housing shortage around SJSU.
Groundbreaking is expected in 2022 with the complex potentially ready for students by the fall semester in 2024.
We look forward to anchoring the southwestern edge of campus, making a high-density off-campus connection between Washington Square and the SoFA District, said Josh Burroughs, Partner and Chief Operating Officer at Urban Catalyst. These types of projects catalyze our urban environment.
The Mark is one of six projects funded through Urban Catalyst s Fund I, which closed in December with $131 million in investments. Urban Catalyst is now accepting investments for its Fund II.
The project was designed by the student housing division of BDE Architecture in coordination with Gould Evans interior design, and will be managed by Asset Living, one of the largest student housing operators in the United States.
The Mark is a third-party off-campus multifamily apartment project and is not affiliated with San Jose State University.

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DALLAS, TX – KKR, a leading global investment firm; Kairoi Residential (Kairoi), a national multifamily investment, development, and property management company; KBS, one of the most prominent investors in premier commercial real estate; and Southern Land Company (SLC), a national real estate developer of mixed-use developments and master-plotted communities, announced that KKR and Kairoi have bought Novē at Knox, from KBS and SLC. Kairoi will operate the hospitality-inspired property. Novē at Knox was developed and operated by SLC in partnership with KBS.
Completed in March 2021, Novē at Knox is a 19-tale, 310-unit Class A luxury multifamily complex in the Knox/Henderson district near Downtown Dallas, Texas within walking distance to high-end entertainment, dining, and shopping venues. The property features state-of-the art appliances, personal washers and dryers, luxury finishes, 10-foot ceilings, and floor-to-ceiling windows with sweeping views of the city. Common-area amenities at the property include 10,000 square feet of private open space, 24-hour concierge service, a 465-space parking garage with valet, a year-round pool and fitness center, indoor and outdoor community recreation and entertainment spaces, a business center, and a dog park and washing station.
Our acquisition of Novē at Knox strengthens our already deep presence in the highly-attractive Sun Belt region which continues to benefit from net migration as a result of strong employment growth and attractive lifestyle benefits, said Chris Lee, partner and head of real estate Americas at KKR. Novē at Knox is a landmark luxury property ideally located in Dallas go-to locale for individuals seeking a dynamic destination to live and work. We believe this property is poised to benefit from Dallas strong economic fundamentals in the years to come.
The buy grows KKR s residential real estate footprint in the Sun Belt to more than 2,500 high quality apartment units. Including Novē at Knox, KKR has bought approximately $1.8 billion of Class A apartments for its core plus real estate strategy over the last 12 months with a focus on dynamic, high-growth markets across the United States.
High-end multifamily properties like Novē at Knox, located in thriving Texas markets like Dallas, are increasingly attracting investors, says Gio Cordoves, Western regional president for KBS. In fact, KBS has been ahead of the curve in monitoring population in-migration to these markets. Recently, Dallas was ranked second among Texas counties where people were relocating, supporting our development of this asset. As Dallas continues to attract residents from other parts of the country, demand for top-tier multifamily properties like Novē at Knox is on the rise in this market.
Novē at Knox presented an brilliant opportunity for KBS to leverage its deep office and local market expertise in this region to develop a luxury apartment complex within the Dallas metro, says Brett Merz, asset manager for Novē at Knox and senior vice president at KBS. This is an extremely desirable property for investors in this market.
KBS is the asset manager of several best-in-class office properties in the Dallas/Fort Worth market, including 3811 Turtle Creek, Highland Park Place, Legacy Town Center I-III, Preston Commons, Providence Towers, Sterling Plaza and Tollway North Office Park, among others.
The ability to collaborate with KBS on this project and deliver a one-of-a-kind luxury asset in the middle of a pandemic is an outstanding accomplishment, says Tim Downey, founder, and CEO of Southern Land Company. We remain proud of what we made with Novē at Knox and the lifestyles it offers residents in such a vibrant area of Dallas.
This is a very well-appointed apartment complex with spectacular views, unmatched services and a highly desirable location, said Madison Marceau, president of acquisitions at Kairoi. We are pleased to participate in this transaction with KBS and Southern Land Company who have positioned this property for long-term success and to collaborate on another fantastic investment with KKR.

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LOS ANGELES, CA – AHF, the largest global AIDS organization, under its Healthy Housing Foundation banner, announced the buy of the historic Barclay Hotel, a 158-unit, 1896-era hotel in downtown Los Angeles, that it will repurpose as housing for extremely-low-income and/or formerly homeless individuals. Due to the COVID-19 pandemic, but, no formal ribbon-cutting event or ceremony will take place at this time.
To mark the acquisition and promote the adaptive reuse of existing older buildings as affordable housing stock, the Healthy Housing Foundation will also run a full-page advocacy ad in Sunday s Los Angeles Times.
The Barclay Hotel becomes the eleventh hotel or motel in the Los Angeles area that Healthy Housing Foundation has bought and repurposed as homeless or extremely-low-income housing since 2017 when AHF first kicked off its housing program. In addition to the Barclay Hotel, Healthy Housing also has one additional L.A. area hotel buy for use as affordable housing pending, near HHF s Sinclair Hotel, which became part of AHF s ‘family of housing in April. The organization is also well underway with plans and permitting to build a new, 250+ unit affordable housing development on L.A. s Skid Row using pre-fab elements that will be built on two development lots next to HHF s Madison Hotel, the first hotel property in Healthy Housing Foundation s portfolio. In Fort Lauderdale, AHF is also well underway with plans for a newly built, state-of-the-art affordable housing complex that will include over 500 micro-units.
AHF launched Healthy Housing Foundation in 2017 to address the rampant affordable housing crisis sweeping the nation by providing quick, simple, and compassionate access to affordable housing with a focus on addressing the needs of low-income individuals, struggling families, youth, and those living with chronic illness.
AHF s Healthy Housing Foundation focuses on the quicker, much less expensive model of adaptive reuse of existing buildings, repurposing them as housing for those previously unsheltered, homeless and/or for extremely-low-income individuals, said Michael Weinstein, president of AHF. We previously renovated and repurposed ten historic or older Los Angeles buildings, and with this latest building, AHF has now made a combined total of 1,183 units in L.A. in our effort to more quickly house individuals and families. Due to the enormity of the homeless and housing affordability crises, we need viable solutions that are economic and quick because communities—and the people in those communities—simply cannot wait any longer.

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