SALEM, Ore. (AP) -- The state of Oregon is looking to sell 47 acres of property that used to be part of the State Hospital in Salem. The hospital has been rebuilt and its operations consolidated.
Earlier this year, consultants said the North Campus property along Center Street could become a $100 million development, probably with housing such as apartments, condos and row houses. The property is now tax-exempt and once sold would become subject to local property taxes.
The consultants say the likely strategy is splitting the property among multiple developers, with a master developer overseeing the project.
The Salem Statesman Journal reports (http://stjr.nl/16tkRA6 ) that the state Department of Administrative Services is making a list of developers who have signaled interest. Negotiations on a sale could begin next year and stretch into 2015.