San Jose’s Historic Building Deal

San Jose is set to acquire the historic Knox-Goodrich Building for $3.6 million as part of a bold downtown revitalization plan, with the city partnering with developer Urban Catalyst to build 276 new apartments nearby. The deal hinges on Urban Catalyst securing permits by end of 2026 and starting construction by end of 2027—potentially qualifying the project for tax breaks under San Jose’s downtown incentive program. Originally purchased in 2019 for $9.1 million, the 1889 Romanesque Revival landmark was sidelined by pandemic disruptions and market shifts. The city will withhold $975,000 of the purchase price until housing goals are met, while planning to activate the ground floor with commercial or cultural uses. Future proposals aim for a mixed-use development with housing and vibrant ground-level activity, possibly launching within three years. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ccb6ac818e84cd48