'Transformative' $130M downtown St. Paul development plan advances
A Indiana-based developer's plans to transform a vacant property in the heart of downtown St. Paul have taken a significant step forward.
The city of St. Paul said this week the $130 million proposal for the property, known as the Central Station Block, is advancing.
Developer Flaherty & Collins recently gained approvals from the Metropolitan Council and the city's Housing and Redevelopment Authority to enter into a tentative developer agreement, clearing the path to begin public engagement, design and other steps needed before a final agreement.
A 20-story apartment tower with 300 market-rate apartments and 10,000-square-feet of ground-floor retail is currently envisioned for the site, which is served by the METRO Gold Line and several bus routes.
The Central Station Block proposal also calls for a six-story building to be connected by skyway over the light rail.
In a statement, Met Council Chair Charlie Zelle said the agency is excited to advance the "transformative" development.
"This pivotal project will not only revitalize a key urban hub but demonstrate our commitment to smart growth principles," Zelle said. "By strategically increasing density around major transit modes, we're creating a more sustainable, equitable, and economically vibrant region that benefits all residents and positions us competitively on the national stage.'
The property is comprised of two parcels owned separately by the Met Council and city of St. Paul. Both were acquired over a decade ago as part of the Green Line's construction.
'Central Station is a key intersection for commuters, residents, and visitors to access our urban core," stated St. Paul Mayor Melvin Carter. "Flaherty & Collins' ideas to reimagine this area with housing and retail echo our vision for a vibrant, connected, and revitalized downtown Saint Paul.'
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