Connecting North Salem to the City's Historic Downtown
The Exchange Salem is a 120-unit, transit-oriented, mixed-income apartment community proposed for construction on the site of the municipal parking lot adjacent to Salem's MBTA station.
The proposed building is one component of a larger development that includes the renovation and rehabilitation of the historic Salem Superior Courthouse and County Commissioner buildings located at 32 and 34 Federal Street.
The majority of the 120 apartments proposed for the one-acre lot at 252 Bridge Street would be studio and one-bedroom apartments, with some two-bedroom apartments. Approximately half of the apartments would be considered affordable housing, while the remaining units would be comprised of workforce and market rate apartments.
This transformative project will deliver much needed, transit-oriented, mixed-income rental housing that reflects the City’s goals to create more affordable and workforce apartments in this area, enhances the public realm and strengthens the connection between North Salem and the city’s core.
WinnCompanies and its development arm, WinnDevelopment, have assembled an expert local team to work with the City and the community to design and develop the project. Both phases of the company's plan have earned the endorsement of the Salem Redevelopment Authority (SRA) and received schematic design approval in 2021.