A vacant, fenced-off lot at 335 South Winchester Boulevard in West San Jose could soon change hands after its owner defaulted on a $6.7 million loan, county records show, setting up a possible foreclosure auction in the coming weeks that would transfer the blighted property to the lender or an outside buyer.
Pacific Row Development, through an affiliate, has owned the site since buying it for $1.5 million in 2018, according to East Bay Times. The company took out a $6.7 million loan from Golden Bank in 2021, the same year the restaurant that once occupied the property, Khanh’s, closed its doors there and relocated to Campbell. An affiliate of Pacific Row Development later defaulted on that loan, according to a notice filed by Golden Bank and reported by The Real Deal.
Since Khanh’s left, the property has sat empty and steadily deteriorated. Plans for both new apartments and office space have come and gone over the years, but nothing has ever been built on the site, the outlet’s report notes.
Office Plans Gave Way To Housing, Then Stalled Too
The site’s development history has been a study in reversals. An initial proposal called for an office building, but the developer abandoned that plan and shifted toward housing, according to a filing described by SFYIMBY. In 2024, a Pacific Row Development affiliate pivoted to a 75-unit apartment complex with ground-floor retail, per the same reporting from the same outlet. A separate account of the project from SFYIMBY described a 95-unit rental building with 10% of units set aside as affordable housing — a discrepancy in the record that has not been resolved…