Site A - Broadway Town Square
Riverfront-Downtown Urban Renewal Area - North Downtown - Project Overview
Date |
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Milestone |
| 2008 -09 |
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Construction |
March
2007 |
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Site A sold to
Telos
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| 2006 |
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City and Developer
negotiate |
July
2006 |
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Purchase and sales
agreement (PSA)executed |
May
2006 |
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Agency selects preferred proposal and development team - Telos |
April
2006 |
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Solicitation for proposals issued |
March
2006 |
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Property prepared
for sale - demolition and site clearance |
| 2004 |
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Building demolition &
Site Preparation |
| 2001 |
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Property purchased
for future mixed-use redevelopment |
| Description
Site A, formerly known as the Eagles property, is located at 1195 Broadway NE (between Market and Belmont Streets). When complete, it will represent an estimated investment of $11,700,000. The sale and redevelopment of this 2.2 acre site serves as an anchor for the revitalization of the Broadway corridor to fulfill the goals of the Riverfront-Downtown Urban Renewal Plan and the North Downtown Plan.
The Urban Renewal Agency of the City of Salem formally transferred ownership of North Downtown “Site A” to Telos Development Company of Salem. They are building the “Broadway Town Square” project, an innovative mixed-use development, featuring over 18,000 square feet of retail and office space at street level and 21 upscale apartments on three floors above. In addition, a small scale movie house is featured at the corner of Broadway and Market with 16 new, custom townhomes for sale at the back of the site. |
Photos
Photo by: Ron Cooper
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Telos began construction fall 2007 on all of the commercial and rental housing components. Following that, they began the development of the for-sale townhomes. As envisioned, the “Broadway Town Square” project will accelerate the transformation already underway along the Broadway corridor into a true “main street,” complete with housing, shops and services. Redevelopment of neighboring sites, Site B (YWCA, housing and retail) is complete; and Site C (office and retail) is complete.
For more information on the North Downtown Plan, contact John Wales with the City of Salem at (503) 588-6178. For information on the “Broadway Town Square” project, contact Telos Development Company at (503) 371-8014. |
Before construction
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Documents
Staff Contact
John Wales |