Mayor Swearengin Announces Another Major Investment Along Downtown Fresno’s Fulton Mall
FRESNO – Mayor Swearengin today announced that Sevak Khatchadourian, who purchased the Pacific Southwest Building last year, has “doubled down” on his investment in downtown Fresno by buying the historic Helm Building.
“I commend Sevak Khatchadourian for his continuing commitment to the Fulton Mall and downtown Fresno,” Mayor Swearengin said. “At a time when lending and building in California have slowed considerably, we’re finding that downtown Fresno is a more and more attractive place for investment. I could not be happier that one of the greatest historic buildings in our downtown is seeing the benefit. As the City continues to put the right planning and infrastructure in place, we look forward to seeing this trend accelerate.”
The 10-story Helm Building was constructed in 1914 and was the first high-rise Classic Revival office building in Fresno’s downtown. Khatchadourian said he will first focus on bringing commercial activities to the ground floor of the building before deciding on uses for the remaining floors. Khatchadourian also indicated that the reintroduction of vehicle traffic on Fulton Mall will help determine whether he and others invest further in the building.
Sevak Khatchadourian and his brother and partner, Serko, in October 2011 purchased another of Fresno’s iconic buildings, the landmark Pacific Southwest Building (formerly the Security Bank Building). The 315-foot-tall building is believed to be the most expensive building built anywhere in California in the 1920s.