SAN JOSE — A lender says it’s ready to develop hundreds of homes on a downtown San Jose site if a bankruptcy judge clears the way for the company to seize the property through a foreclosure proceeding, court papers show.

The property that’s in dispute is an abandoned Greyhound bus terminal site at 60 and 70 South Almaden Ave. in downtown San Jose.

The lender for the property, a Texas-based affiliate of a group whose principal executives include real estate developer Chris Jiashu Xu and business executive William Wang, is asking U.S. Bankruptcy Court Judge Stephen Johnson to rule in a manner that would pave a path to a foreclosure of the site’s loan.

The site’s owner, an affiliate of China-based Z&L Properties that is operating as Full Standard Properties, filed for bankruptcy in July, h

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