Downtown San Jose, Oakland opportunity zones attract investors, spur development plans amid Google effect

(SJ Mercury News)

Erik Hayden, president of Urban Catalyst, points towards the western edge of downtown San Jose, including the Diridon Station and SAP Center area. Developers and a new crop of investors are eyeing projects in downtown San Jose and parts of Oakland, bolstered by opportunity zones enabled by President Donald Trump's tax-cut initiative.

Erik Hayden, president of Urban Catalyst, points towards the western edge of downtown San Jose, including the Diridon Station and SAP Center area. Developers and a new crop of investors are eyeing projects in downtown San Jose and parts of Oakland, bolstered by opportunity zones enabled by President Donald Trump's tax-cut initiative.

SAN JOSE — Developers and a new crop of investors are eyeing projects in downtown San Jose and parts of Oakland, bolstered by opportunity zones enabled by President Donald Trump’s tax-cut initiative.

Potentially the first project in a local opportunity zone would be development of a brand-new office and retail complex on South First Street in downtown San Jose at the site of the old Lido night club, said Erik Hayden, president of Urban Catalyst, which has struck a deal to invest in the former Lido property.