SAN JOSE — The city of San Jose officially completed its multimillion-dollar purchase of a historic downtown building in a deal that is linked to municipal approval of an apartment project with hundreds of units.
San Jose acquired the Knox-Goodrich building, constructed in 1889, for $3.6 million from an affiliate of real estate firm Urban Catalyst, according to a staff memo and documents filed on Aug. 7 with the Santa Clara County Recorder’s Office.
City leaders believe San Jose acquired the historic building at a bargain price. Urban Catalyst bought it for $9.1 million in 2019…