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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 addition. Staff said the firm has discussed building‑code issues with the city but had not yet submitted formal applications or permits.
Hong Kong restaurant site: staff reported the current owners of the vacant Hong Kong restaurant parcel plan to demolish the existing structure and construct a new retail building intended for a national auto‑parts chain. Staff said the prospective buyers are an out‑of‑state corporate team and are not, at this time, locally based.
Bank of America site RFQ: staff and the consultant reported a request for qualifications (RFQ) for the Bank of America property is closing with eight prospective developers participating in person or online at the open house; the RFQ deadline is the week after the meeting. Staff said, if sufficient qualified responses arrive, the city will invite those firms to a targeted RFP.
Trends: staff told the committee they are seeing an uptick in multifamily development across downtown and other parts of the city and a need for more housing inventory, which the committee and staff said is a positive pipeline signal for downtown rehabilitation and infill.
Ending: staff said they will check in with interested developers and update the committee after RFQ responses are reviewed; formal permit applications remain outstanding for most projects mentioned.
