SAN JOSE — Developers hope to gallop to the finish line to finish a San Jose hotel in time for a significant Nvidia conference that filled downtown with throngs of tech staff and visitors last 12 months.
The hotel under construction in downtown San Jose, developed by Bay Area real estate firm Urban Catalyst, would add 176 rooms to the town's lodging offerings when accomplished.
The hotel is positioned at 495 West San Carlos Street, just a number of blocks from the San Jose Convention Center and down the road from the SAP Center, where Nvidia Chief Executive Officer Jensen Huang delivered a keynote address for the tech giant's 2024 conference.
“We expect to open the hotel in March,” said Eric Hayden, founder and managing partner of Urban Catalyst.
The Urban Catalyst subsidiary that owns the hotel site received a $48 million loan from Poppy Bank in 2023 to finance construction of the eight-story hotel, in accordance with documents filed with the Santa Clara County Recorder's Office available.
San Jose-based Urban Catalyst has taken steps to make sure hotel construction progresses quickly enough to be accomplished in time for the Nvidia events in downtown San Jose.
“We received planning permission on Saturday to speed up the work,” said Hayden.
According to a post on the corporate's website, Nvidia GTC is scheduled to happen in San Jose from March 17 to 21 this 12 months.
The conference was expected to attract 16,000 participants to San Jose in March 2024, although some estimates put the actual number higher.
In any case, the 2025 Nvidia GTC event in San Jose is anticipated to generate a big economic boost, particularly in the town center, as attendees seek lodging, meals and entertainment before or after the event. This was the case for the 2024 event, but exact figures weren’t available.
“It could mean $500,000 in revenue if we can open in time for this conference,” Hayden said.
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