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Downtown redevelopment interest grows; Gale Hotel restoration, Hong Kong restaurant site and Bank of America RFQ draw developer attention
Summary
City staff told the committee they are tracking several downtown redevelopment prospects, including a potential multifamily conversion at the Gale Hotel, a prospective auto‑parts retailer replacing the Hong Kong restaurant site, and responses to an RFQ for the Bank of America property due within a week.
City staff briefed the committee on a pipeline of downtown and near‑downtown redevelopment inquiries and solicitation activity.
Gale Hotel: staff said a Salem‑based multifamily developer is near contracting to buy the Gale Hotel property and plans to retain ground‑floor retail while converting upper stories to apartments. The developer is also exploring use of an adjacent asphalt parking lot for added housing or a building…
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