Downtown Development Opportunity

Downtown Development Opportunity

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Listing was updated on: 05/01/2023

280 Church St. NE, Salem, OR, US

Location
Located in the eastern half of downtown Salem, Oregon the subject property is also one block from the grounds of the Oregon State Capitol. Surrounding uses include the Oregon State Executive Building, and the new Withnell Family YMCA, Courthouse Square (Marion Country & the Transit District), and the Marion County Courthouse.

Sale
Opportunity Zone property in downtown Salem, Oregon ready for redevelopment. This property provides the opportunity to control the entire city block, making it a rare and perfect redevelopment project for residential, government or education. The subject property is the long-term former home of the Statesman Journal newspaper and includes four (4) additional lots in the surrounding blocks with 125 off site parking spaces or additional redevelopment options. The main building is located on the eastern expansion area of the downtown core, right in the path of growth. 75-100' height restriction per the City depending on construction type and use.

The building measures 87,241 sq. ft. with half of that being in the basement which may have parking possibilities with alley access. The main building is situated on 1.26 acres - one-half a city block.