North Downtown Salem Site A Sold

Groundbreaking is expected within the next six months with project completion anticipated by spring of 2009.

Salem-News.com

(SALEM) - The Urban Renewal Agency of the City of Salem has formally transferred ownership of North Downtown Site A to Telos Development Company of Salem.

Located along Broadway Street, just south of Market, Telos plans to build the Broadway Town Square project, an innovate mixed-use development, consisting of 18,000 square feet of retail space, including an independent movie theater, 21 apartment units, and 16 for-sale townhouses.

Groundbreaking is expected within the next six months 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 Citys North Downtown Plan.