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Learn about Saint Paul Investor Relations, including Featured News, Infrastructure Projects, and The Team.
Welcome to the official investor relations website for the City of Saint Paul, Minnesota. The Office of Financial Services, Treasury Division manages all City financing needs, including investor communications for the City and related entities.
Saint Paul was incorporated in 1854 and is the capital city of the the state of Minnesota. The City is the second most populous in the state with more than 300,000 residents. Saint Paul is the county seat of Ramsey County, and together with Minneapolis forms the core of the Twin Cities, the 16th-largest metropolitan area in the nation, with about 3.5 million residents.
To learn more, please visit the City website here.
Saint Paul is at a critical moment. We have incredible potential as we continue to grow into a 21st-century global community. To ensure that our city truly works for all of us, we need a city budget that reflects and invests in our values. Investing in our values means building a city that not only meets our needs today, but helps us build a city that our children, and grandchildren, will want to live in. To realize this vision, we need to invest in a future for all of us. That is why our city budget invests in the people and things that matter most to us. We have built a big vision for our city together, and our vision requires our shared investment. I am thrilled to share our 2019 budget proposal.
- Melvin Carter, Mayor
The City has approved a master plan that calls for rezoning most of the acreage for medium- to high-density residential development, as well as a limited number of commercial buildings.
The 122-acre parcel has been cleared of structures and is slated for redevelopment into housing, commerce and open space by the Minneapolis-based Ryan Company.
The 110 acre property – just 25 acres smaller than the Ford site – has been put on the market. A potential development plan may include multi-unit housing, restaurants, retail, trails and a community center.
The road runs through a ravine once belonging to John Ayd, a German settler who operated a grist mill at a nearby pond in the mid-1860s. By the late 1870s, the Chicago, Milwaukee, St. Paul and Pacific Railroad had bought a right of way and built the “Short Line” through the ravine. While there was talk of building parks in the area even then, it remained exclusively a rail route for decades.
By the early 1960s, the Short Line road was built with the idea of linking I-35E in the south with I-94 to the north. Neighborhood opposition to the completion of I-35E delayed that project, however, and stymied the connection. Between 1965 and 1992, the road carried very little traffic. The city built a ramp connecting Short Line Road to I-35E, but it was unused. In 1993, the city changed the street’s name to Ayd Mill Road.
Riverfront Properties is a nearly five-acre site located along the bluff overlooking the Mississippi River in downtown Saint Paul. In June 2015, Ramsey County began deconstruction of the former Adult Detention Center and West buildings located on the iconic site to prepare it for sale and private development.
A Request for Development Interest was issued on Nov. 9, 2017. On Nov. 20, 2018, the County Board directed staff to begin negotiations on an exclusive six-month agreement with AECOM to perform due diligence on a proposal to develop the Riverfront Properties site.
"The new plans from developer AECOM include four proposed buildings, as well as a cover over Shepard Road and the railroad line along the river, to directly connect downtown to the river upstream from the Wabasha Street bridge.
The first construction phase includes two residential towers, including a class A apartment tower with 250 to 250 apartments, a 150- to 250-room boutique hotel and condominium tower with 80 to 150 units to be finished in 2021. A handout put the possible cost between $200 and $280 million.
The second and third phases call for two office and commercial towers, the first about 250,000 to 400,000 square feet to be completed about 2023. That would have a potential value between $150 and $220 million. The other would be 600,000- to 1-million-square-foot tower, to be determined as the project develops and worth between $270 and $400 million. That has a projected completion in 2026."