The Ramsey County Board of Commissioners is taking definitive steps towards the realization of the Rice Creek Commons Project. A revised purchase and sale agreement with Ryan Companies, designed to handle the development of Outlot A on the site, saw broad approval, leading the way for a projected 10-acre commercial endeavor in Arden Hills. This plan includes a proposal for a 157,000-square-foot advanced technology project that promises to make use of sustainable design practices.
Ryan Companies currently is in a due diligence period, and a final development agreement is slated to be reviewed by the Joint Development Authority (JDA) on April 7. If this agreement secures approval, the closing on the first phase of the project could come to fruition by April 30, according to Ramsey County. With a planned investment of up to $3.5 million dedicated to sustainable design, which includes a hybrid ground-source heat pump system, the projected reduction in greenhouse gas emissions is poised at around 65%.
Ramsey County Commissioner Tara Jebens-Singh reflected a sense of optimism about the progress being made toward initiating development this spring. In a statement obtained by Ramsey County, Jebens-Singh said, "This amended agreement is a significant step toward bringing tangible development to Rice Creek Commons." Moreover, Jebens-Singh expressed appreciation for the collaborative efforts between Ryan Companies, the City of Arden Hills, and the JDA.
The site for this project, the former Twin Cities Army Ammunition Plant (TCAAP), has been subject to extensive environmental remediation. The vision for the site extends beyond the immediate sale, with the JDA aiming to transform the area into an epicenter of economic growth and sustainable development, integrating housing and commercial spaces. The total land purchase price is pegged at $9.2 million. Peter Fitzgerald, vice president of real estate development at Ryan Companies, expressed his enthusiasm for the project: "We are excited to move forward with our partners to bring this vision to life," he told Ramsey County.
Looking ahead, the Rice Creek Commons development—a sprawling 427-acre parcel—has the potential to reach an approximate development value of $1 billion. These plans not only signify a major economic boost for Arden Hills but also represent a significant stride toward greener and more sustainable urban development practices.
