SAN JOSE — A big downtown San Jose hotel slated to sprout near Google’s proposed transit village is pushing forward now that the lodging project has landed a vital construction loan.
“It’s great to see that even in a difficult economic environment that a lender is confident in downtown San Jose and our project,” said Erik Hayden, founder and managing partner with Urban Catalyst. “The Keystone project is a bellwether for the development future of downtown San Jose,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use consultancy. “Obtaining financing for a hospitality project shows the investment and banking community’s faith in Urban Catalyst and downtown San Jose.”
The project site is also close to the edges of Google’s proposed new neighborhood, known as Downtown West, near the Diridon train station and SAP Center.