Project Updates
January 2026
Construction and engineering crews are conducting preliminary sitework for The Exchange Salem, a 115-unit, transit-oriented, mixed-income apartment community that will be built on the site of a former municipal parking lot adjacent to Salem's MBTA station. Financing commitments for the project -- and for the revitalization of the two historic courthouses nearby -- are expected to be secured in early spring.
Project History
To learn more about the origins and history of this project, please visit the Salem Redevelopment Authority chronology of the effort to revitalize the courthouses and to develop the Crescent Lot. It can be found here: https://www.salem.com/salem-redevelopment-authority/pages/redevelopment-salems-historic-courthouses