After being forced out of the auto business in the 1920s, Merritt J. Osborn created innovation after innovation, from carpet cleaner to dishwashing soap, at his St. Paul company called Economics Laboratory, known today as Ecolab.
Nearly a century later, Osborn's name will take the place of Ecolab atop its former headquarters building as developers remake it in hopes of attracting firms with his entrepreneurial spirit.
For St. Paul, the redevelopment of one of its tallest buildings is viewed as a way to spearhead growth downtown.
"There are a lot of companies succeeding here," said Rich Pakonen, a St. Paul-based developer who also redeveloped downtown's historic Pioneer Endicott complex. "What we're going to prove is that the environment here works."
Pakonen is one of the local investors who paid a bargain-basement $3.6 million to the out-of-town owner, Haddington Associates, for the 20-story, 280,000-square-foot office tower in a deal influenced by Mayor Chris Coleman and Ecolab Chief Executive Doug Baker. Ecolab, one of downtown St. Paul's largest employers with more than 2,000 workers, recently decided to consolidate and move its headquarters into the nearby 17-story tower that was vacated by Travelers Cos.
"We went to the [building] owners and said it's not worth anything once we leave and we can help you steer it in a way that's beneficial to St. Paul," Baker said in an interview. "We had higher offers than the one we took, but we wanted this in the right hands."
The building, which is valued about $11.4 million according to Ramsey County property records, has been occupied by Ecolab since it opened in 1968.
The building owners had offers from several different developers, including Jim Crockarell, who is one of downtown's largest property owners and wanted to convert some of the space into housing. Baker invited the mayor to listen to the presentations by the finalists.