New plans for Boise Cascade site in Salem

New plans for Boise Cascade site in Salem

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by Joe Smith, KGW Business Reporter

kgw.com

Posted on February 3, 2014 at 7:01 PM

Updated Monday, Feb 3 at 8:38 PM

SALEM, ORE -- The former Boise Cascade site in Salem is getting a new life. Construction is underway on a new apartment and retail project.

Salem City Council approved the plan January 27th. A day later, demo crews were on the job.

The top floor of the former warehouse is coming down. It will be the foundation for 115 apartments with more to come later and 15,000 square feet of retail space.

It's part of the Pringle Creek Square master plan at the corner of Commercial and Bellevue Streets.

Mountain West Investments bought the property in 2007 for redevelopment, but the economy got in the way. Now, the time is right.

This $23 million project is phase one of an overall $65 million facelift of the 13-acre development.

"In the 1800s, it was Salem's first flour mill right on Pringle Creek," said Jason Tokarski, Vice President of Mountain West Investment Corporation. "From there the 13 acre property developed into a pulp and paper mill and lumber yard. I think in about 1965 Boise Cascade purchased the entire property."

The property sits along Salem's Riverfront Park. As part of this public private partnership, the city will purchase nearly four acres to expand the parks expansion.

In addition, Pringle Creek apartments will get a $10 million abatement over ten years. The first apartments will be ready by summer of next year.

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