A proposed $4.22 million sale of Downtown Fresno's Fulton Village will be considered by the Fresno RDA successor agency Thursday.

The sale of Downtown Fresno’s Fulton Village mixed-use building for $7.9 million may hinge on an item on Thursday’s Fresno City Council agenda.

The Successor to the Redevelopment Agency of the City of Fresno will weigh in on a subordination agreement that would pave the way for a sale by Granville Homes of its 46-unit Fulton Village building to an entity called Fulton Village LLC, according to a city staff report.

Before Gov. Jerry Brown dissolved the state’s Redevelopment Agencies (RDAs) in 2012, Fresno’s RDA made a loan of $800,000 and a grant of $500,000 for the construction of Fulton Village, which opened in 2011.

The subordination agreement would lower the agency’s security interest in the property to another loan — a $4.22 million note for the deed of trust to the building, one of several loft-style projects Granville has built in Downtown Fresno.

The buyer is also including $3 million in cash.

It has 46 residential units and 4,500 square feet of commercial space.

A request for comment from Darius Assemi, president of Granville Homes, was not returned.

The Business Journal reported in 2016 that 291 units — 287,969 square feet — of Granville’s Downtown Fresno portfolio was put on the market for sale. This consisted of nine different properties built since 2011.

A search of online property listings revealed that one of the properties, Brio on Broadway, was no longer on the market.

A search of the California Secretary of State’s business entity records lists Michael Deutsch of San Diego as a manager of Fulton Village LLC. The address listed for Deutsch is for a San Diego business called All Right Storage.