Description
Site A, formerly known as the Eagles property, is located at 1195 Broadway NE – between Market and Belmont Streets. The sale and redevelopment of this 2.2 acre site will serve 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 plan to build the “Broadway Town Square” project, an innovate 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 will be featured at the corner of Broadway and Market with 16 new, custom townhomes for sale at the back of the site.
Telos expects to begin construction in the fall of 2007, with project completion anticipated by spring of 2009. 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 consistent with the City’s North Downtown Plan. Redevelopment of neighboring sites, Site B (YWCA, housing and retail) and Site C (office and retail), is already underway.
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.
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