Big news for Saint Paul's downtown development scene – the hunt is on for a visionary developer to transform Central Station Block into a mixed-use haven. The Metropolitan Council and the City of Saint Paul Housing and Redevelopment Authority kicked off their search with the issuance of a Request for Proposals, looking to quickly secure a plan for the prime 1.66-acre site. Prospective developers have until July 25 to throw their hats in the ring.
The Met Council, alongside the HRA, isn't just hoping to merely slap up a new structure. They’re aiming to fundamentally elevate downtown Saint Paul with a build that's locked in with the city’s transit system. "The vision is for a landmark, high-density, mixed-use development that both maximizes the development potential of the site and increases transit ridership," Charlie Zelle, Met Council Chair stated. Evidently, the two bodies are to seriously invest in setting up the groundwork for the site’s success.
Mayor Melvin Carter stands behind the development, emphasizing how central a robust downtown core is for any city's vitality. "Residents in cities across the country are understanding anew just how critical a thriving downtown is to a city’s overall health," he mentioned, according to a statement. There's a push from the top-down to to notably ramp up Saint Paul's downtown district.
Mixing it up is the name of the game, as the Central Station Redevelopment Site is perched along Cedar Street, stretching between 5th and 4th streets. Cutting-edge ideas extend to potentially redesigning the existing stairway-elevator tower and other transit facilities to fully integrate public access within the new development. "This one-of-its-kind development opportunity in the heart of downtown will spark Saint Paul’s next phase of economic growth," Council Member Rebecca Noecker, who also serves as HRA Chair, shared with fans of urban renewal.
There's even financial sweeteners on the table for developments that are designed to contribute to public objectives, a joint consideration by the Met Council and HRA. This RFP is launching amidst a backdrop of continuous development along transitways in the region, which have become hotbeds for housing, employment opportunities, and impressive tax revenue increments.
With over a third of the region’s development being transit-adjacent since 2009, it's no surprise that developers might want to hop aboard this project. An official report revealed the correlation between such developments and their fiscal yield, finding average parcels near high-frequency transit managing to churn out $60,000 per acre in property tax.
