Riverfront Downtown Urban Renewal Area

​Since its establishment in 1975, Riverfront-Downtown Urban Renewal Area (URA) funds have been used to attract and retain commercial businesses in the downtown core, preserve historic buildings, and incent new housing development within the Riverfront-Downtown Urban Renewal boundaries.

Riverfront-Downtown Urban Renewal investments play a major role in making downtown Salem livable, using urban renewal as a tool to focus public resources on key projects such as:

• New construction of office building
• New construction of residential rental housing units
• Recently-completed Peter Courtney pedestrian/bicycle bridge
• Installation of bike signals and bike lanes

A strategic action plan unique to the Riverfront-Downtown URA informs implementation of projects, using an integrated approach to revitalization that includes commercial, retail, mixed-use residential, streets and parks, re-development.

Assessed values and key projects were determined when the urban renewal district was first established. Project plans are subject to change at the direction of the Urban Renewal Agency.

​Incentives

• Multi-unit Housing Tax Incentive Program. Incentive program to stimulate construction of transit-supportive, multiple-unit housing in the core areas of urban centers.

• Project Bonds for Urban Renewal Projects. Project-specific financing in the form of project bonds

• Riverfront Downtown Capital Improvement Grant Program. Incentive opportunity for property owners to support creative and flexible approaches to economic vibrancy.

• Riverfront Downtown Strategic Project Grant Program. Incentive opportunity to address homelessness, including projects that address building and property safety and security.

​Use the map to find out if you are in this urban renewal area

Open a mobile-friendly, full screen map of the Riverfront-Downtown Urban Renewal Area in a new window.