The deal to create a $150 million mixed-use hub at the former home of Truitt Bros. Cannery fell through, but the developer helming the project said his company hopes to revisit the contract if Salem can prove its worth as an investment.
Aaron Stickney, co-founder and managing member of SilverSphere Capital, previously told the Statesman Journal that the purchase was under contract and expected to close this summer, with demolition following shortly thereafter.
Stickney and SilverSphere stepped in after the plan to transform the former cannery north of downtown stalled under previous leadership. The deal fizzled because the seller wasn’t willing to extend the contract, Stickney said…