When city and business leaders imagine downtown St. Paul's future, they conjure impressive hotels on the riverfront and near the Xcel Energy Center, a high-rent office tower rising above a light-rail station, more shops and clubs on Wabasha Street.
Dreamers? Maybe. But Mayor Chris Coleman and others insist there's rarely been a better time for the capital city to capitalize on recent high-profile downtown projects — most of them driven by or subsidized with public dollars — in order to generate new private investment there.
On Friday, they unveiled a conceptual plan designed to help developers see the potential in four vacant downtown sites: across from the Xcel Center on W. 7th Street, in and around the former Macy's on Wabasha, along the Mississippi River bluff on Kellogg Boulevard and at the new light-rail Central Station at 5th and Minnesota Streets.
"There is so much momentum in the city of St. Paul right now … but the fact of the matter is, we have to keep that momentum going," Coleman said.
No hard and fast development scenarios, let alone private money, have yet been attached to any of the sites. The plan itself says that "it is unlikely that all sites could be feasibly developed at these levels."
But officials said that interest from regional and national developers already is high, and Coleman suggested that investors better get going while the going is good. The "window of opportunity," he said, is open now but perhaps not for long.
As proof, the mayor pointed to new apartments and a grocery store either open or soon to come, the renovated Union Depot and its expansion of transit options, the Saints ballpark slated to open next year, and light-rail transit service set to begin this summer.
The plan is "aspirational … but it does capture potential energy to create new iconographic places in downtown St. Paul," he said.