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355 Minnesota St
Saint Paul, MN 55101
Central Station Redevelopment Site (RFP) · Land For Sale · 1.66 AC

Investment Highlights

  • A 1.66-acre site intersected by the METRO Green Line Light Rail's Central Station.
  • Residents in downtown Saint Paul have grown dramatically since 2010, particularly in adjacent Lowertown neighborhood, to 10,300 residents today.
  • At the heart of Downtown Saint Paul's CBD, with over 55,000 employees and 15.4 million square feet of office space.

Property Facts

Property Type Land
Property Subtype Commercial
Proposed Use
Retail
  • Office
  • Mixed Use
  • Multifamily
Total Lot Size 1.66 AC
Cross Streets 5th St E
Zoning B4 - Central business district zoning. More detailed information at https://library.municode.com/mn/st._paul/codes/code_of_ordinances?nodeId=PTIILECO_TITV

Description

With the goal of creating a catalytic high-density development, the Metropolitan Council and the Saint Paul Housing and Redevelopment Authority (HRA) have released a Request for Proposals for the Central Station Block. Bisected by the METRO Green Line Light Rail Transit (LRT) and connected to the city’s skyway network, the 1.66 acres of combined property has potential for 578,000 square feet of buildable space, including air rights over the LRT, with potential for density bonuses, making it a prime site for a mixed-use, transit-oriented development in the heart of downtown Saint Paul. The Central Station Redevelopment Site is located in downtown Saint Paul, Minnesota, a regional economic, government and cultural center. Downtown Saint Paul serves as one of the region’s two largest central business districts, with over 55,000 employees and 15.4 million square feet of office space. Saint Paul is home to a growing tech industry and a flourishing civic and nonprofit sector. In addition to a prosperous business district, the number of residents in downtown Saint Paul has grown dramatically since 2010, particularly in the historic Lowertown neighborhood just blocks from the site. As of 2021, 10,300 residents call downtown Saint Paul home. The growing number of residents and employees; the formation of a Downtown Alliance to represent the interests of downtown businesses, residents, nonprofits, and government entities; and the commitment by the City to invest in and create great public spaces and amenities have made downtown Saint Paul a very attractive place to live, work, play and visit. The Central Station Redevelopment Site sits at the heart of a thriving downtown. Its location means that it is within a short walking distance of many of the unique features of downtown Saint Paul, including Lowertown, Rice Park, Mears Park, and the Mississippi River waterfront. The CBD is nestled between the residential enclave centered on Mears Park and the cultural/entertainment district surrounding Rice Park. It sits atop a bluff with spectacular views of the Mississippi River and access to the Sam Morgan Regional Trail, part of a 340-mile pedestrian and bike trail system. Running one block to the south of the Central Station Redevelopment Site along the edge of the bluff are Kellogg Boulevard and the proposed River Balcony project, which envisions the creation of new visual and physical connections between downtown and the river. Significant development projects proposed along this route include a $788M mixed-use project known as RiversEdge, which will incorporate a public pedestrian connection from the top of the bluff down to the river, and development of 3.4 acres over the RiverCentre parking structure. There are several downtown entertainment venues that host numerous events and festivals throughout the year, including the Ordway Center for Performing Arts (home to the Saint Paul Chamber Orchestra and Minnesota Opera) and the newly renovated historic Palace Theater. Downtown Saint Paul and the Central Station Block are within a designated Opportunity Zone census tract. In this Request for Proposals (RFP), the Metropolitan Council (Council) and the City of Saint Paul Housing and Redevelopment Authority (HRA) are conducting a solicitation for development of the Central Station Redevelopment Site in downtown Saint Paul, Minnesota. This unique development opportunity, in the heart of Saint Paul’s Central Business District (CBD), is a 1.66-acre site intersected by the METRO Green Line Light Rail Central Station. The site covers most of a city block, and the remainder of the block is being advertised for sale by the current owner. The site consists of both Council and HRA-owned parcels. To facilitate a simple and efficient development process, the HRA and Council are collaboratively offering their parcels as one development opportunity. Responses to this solicitation will require a statement of qualifications for the development team, examples of similar projects, description of the proposed development program, conceptual/ schematic images of the building(s), proposed purchase price, and a plan for mitigating disruption to transit services during construction and operations. This information will be used to select the successful development team which may enter into negotiations on a purchase agreement. While the Council is the Administrator of this RFP, the Council and the City of Saint Paul HRA have consolidated all processes and requirements into this joint solicitation.

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 06-28-22-12-0109
  • 06-28-22-12-0056
  • 06-28-22-12-0055
  • 06-28-22-12-0110
  • 06-28-22-12-0100
Land Assessment
$3,737,200
Improvements Assessment
$1,179,100
Total Assessment
$4,916,300
  • Listing ID: 31695745

  • Date on Market: 5/3/2024

  • Last Updated:

  • Address: 355 Minnesota St, Saint Paul, MN 55101

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