SAN JOSE-The San Jose City Council has approved a $2.9 million loan-and-grant package to assist Barry Swenson Builder, a local developer, in closing a deal with P.F. Chang’s China Bistro restaurant chain.

Barry Swenson Builder plans to restore two seismically unsafe buildings in San Jose– the Knights of Pythias and Foto Mexico buildings, both on the corner of Second and San Fernando streets. The lease commitment, which is expected next month, would ensure the company the money to make it happen.

Barry Swenson Builder plans to spend about $6 million to make the 10,000-sf site ready for use. At this week’s city council meeting, the city approved a $2.1 million loan at 3% interest and $770,000 in grants for seismic upgrades and facade improvements.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.