Swenson adds to property collection

SAN JOSE >> Veteran Silicon Valley developer Swenson has widened its collection of downtown San Jose properties near a transit village that Google intends to develop.

The latest transaction, as well as others, serves as a reminder of Swenson’s commitment to downtown San Jose, according to the development company.

With the most recent purchase, this one involving a surface parking lot, Swenson owns multiple properties along West St. John Street that are at or near the intersection of Notre Dame Avenue.

“Swenson is always looking for sites that have potential for future development,” Swenson said in comments emailed to this news organization.

However, Swenson said it has no immediate plans to develop the property, which currently operates as a Star Parking site at 211 W. St. John St. in San Jose.

Acting through an affiliate, Swenson paid $1.75 million for the parking lot site, according to public records filed on Jan. 31 with Santa Clara County.

Prior to this deal, Swenson had bought other adjacent properties across the street.

In November, a Swenson affiliate bought properties near the corner of West St. John and Almaden Boulevard where Dark Horse Gym operates.

Swenson previously had taken ownership of three parcels adjacent to the gym on a block bounded by West St. John Street, North Almaden Boulevard, Carlysle Street and Notre Dame Avenue. Swenson affiliates own about half of that block.

No development proposals have been formally floated yet by Swenson for the parking lot property or the adjacent ones.

All of these Swenson sites are just down the street from an interchange of State Route 87 and Julian Street and a couple of blocks from San Pedro

Square, a bustling hub for dining, drinking and entertainment.

Plus, the properties are a short distance from a proposed Google transit village called Downtown West that will consist of office buildings, homes, restaurants, shops, entertainment centers and cultural hubs near the Diridon train station.

The Swenson sites in this area are close to under-construction office towers by Adobe and developer Jay Paul Co.

Swenson also owns a nearby site where housing could be developed in the North San Pedro district.

One notable current project for Swenson is The Graduate, a student housing tower under construction near East San Carlos Street and South Third Street in downtown San Jose.

“We’ve always been all-in on downtown San Jose,” Swenson said.