Friends,

I've been reflecting on the Pioneer Press story from over the weekend, linked below. It's no secret that recent shifts in our society have posed challenges for commercial real estate. Change can be daunting, especially when it's accompanied by challenging news like TKDA leaving downtown. However, instead of shying away from it, we should take a moment to assess the bigger picture and recognize the opportunities that lie ahead.

In addition to the commercial-to-residential conversion candidates that are a part of the Madison Equities portfolio, the potential transformation of the Ramsey County East building into housing, with its breathtaking views, has been in discussion for years. Despite concerns in the capital markets due to rent stabilization, the downtown residential vacancy rate sits at less than 6%, offering more than just a glimmer of hope for residential growth in downtown Saint Paul. These are all aspects considered in our Downtown Investment Strategy.

But merely having a strategy isn't enough; we need the backing of the city, county and state to fund these initiatives. Without their support, we risk burdening single-family homeowners across the city and county with the property tax load. The groundwork has been laid, and now it's time for us to roll up our sleeves and get to work. I'm eager to see our progress unfold and celebrate our achievements along the way.

Have a great weekend,

Joe

Amidst office upheaval, vendors, business advocates, leaders weigh in on future of downtown Saint Paul

A Downtown Investment Strategy unveiled by the Downtown Alliance in March emphasizes the importance of three key strategies, including office-to-residential conversions and improving the pedestrian streetscape on a handful of key connecting corridors that cross downtown, such as Fifth Street, Kellogg Boulevard, Wabasha Street and Robert Street.

The 125-page strategy, prepared by a downtown steering committee with the help of New York-based consultants, also calls for “activating” the dead space around downtown Central Station, the future RiversEdge project along Kellogg Boulevard and the Xcel Energy Center with new public-facing development and amenities.

“Markets are cyclical,” Spencer said Friday. “Buildings are going to trade. We’re hopeful the Downtown Investment Strategy will help guide what will happen.”

TONIGHT : Parksgiving Fundraiser for Pedro Park

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Construction season is underway and each week we'll provide updates on projects and road closures happening around downtown to ensure a smooth trip whether you’re coming for dinner, the farmer’s market, a show or work.

To view a larger version, click on the table. Click the map to visit the City of Saint Paul road closure map.

Follow these links for additional details on Kellogg Blvd., Minnesota St. and the Robert St. reconstruction and utility work.

2023 Annual Report now available

As the Saint Paul Downtown Alliance celebrated its fifth anniversary in 2023, we are reflecting proudly on the remarkable resilience and growth our downtown has achieved in the face of collective challenges and change.

We're excited to present this year's annual report, including a timeline highlighting key milestones and achievements that shaped our journey.

Download the full report here.

Are you following the Alliance on Facebook? What about Instagram?

Make sure you're following the Downtown Alliance on social media to stay up to date on all the latest downtown events and news. Plus, we do love giveaways, so you never know when you could end up with tickets, swag or other great downtown prizes.

@StPLdowntown

stpdowntownalliance.org

Have questions?

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