Coldwell Banker's new office is located at the corner of Union and Front streets, across the street from their old office downtown.
The project was started in June 2015 and involved a 12,500 square feet building. The project included using reclaimed bricks and wood from other buildings.
Peter Rogers, president of the Coldwell Banker office,considered the purchase as a strategic move in the commercial renovation of the downtown Salem area.
"We're moving 50 feet," Rogers said. "It's obviously a beautiful building but it has been neglected; it has been held by various owners since 1974."
According to the Statesman Journal article of August 2014,
"Rogers said the building was purchased for $950,000, and he expects a postrenovation property value of $2 million.
"It's fun taking these old buildings and bringing them back to life," Rogers said. "It's an office building, but it doesn't look at all like an office."
Rogers also said he hopes — and expects — to see more business owners and prospective property owners take on projects in the downtown area."