Latest news with #DowntownDevelopmentCorporation
Yahoo
an hour ago
- Business
- Yahoo
St. Paul Downtown Development Corp. seeks to acquire Alliance Bank Center
The St. Paul Downtown Development Corporation, a new nonprofit created by the Downtown Alliance, has purchased the bank note for the troubled Alliance Bank Center on Fifth St., the first step toward placing the recently-vacated property under the control of a legal receiver. 'There's no greater example of the challenges and opportunities in downtown St. Paul than the Alliance Bank Center site,' said corporation president Dave Higgins, in a written statement. 'We can't create a strong and vibrant downtown St. Paul without creating a stable and robust core, and the Alliance Bank Center site is critical to making that happen.' Officials with the Downtown Development Corporation said details behind the bank note purchase are private. The nonprofit plans to initiate legal proceedings to place the 300,000-square-foot vacant building into receivership and ensure it is properly maintained and secured, according to the written statement from the corporation. Current skyway closures will continue. The Downtown Development Corporation plans to 'assess opportunities to restore the property,' which it says 'faces significant structural and mechanical issues following years of disinvestment and neglect.' The city of St. Paul has been providing emergency building services since Madison Equities stopped paying for maintenance and utilities, effectively shuttering the building in March. Some retail and office tenants impacted by the closure have found new homes in other parts of downtown. Downtown St. Paul has been declared 'dead' before In downtown St. Paul, minus a cafe, Landmark Center is 100% leased Despite slump for downtown St. Paul, some companies find new space to grow Climb to the top of Landmark Center in downtown St. Paul Made in St. Paul: A Charli XCX-inspired exhibition of portraits at the M
Yahoo
07-03-2025
- Business
- Yahoo
Downtown St. Paul Lunds and Byerlys closes permanently on March 26
Downtown St. Paul will lose its last grocery store when the Lunds and Byerlys on East 10th Street closes on March 26. Tres Lund, chief executive officer of the Edina-based supermarket chain, said the grocery, which opened at 115 East 10th St. in 2014, had been profitable in its first seven or eight years, but struggled during the pandemic when downtown employers shifted to remote work. An increase in store security expenses and decrease in customer visits left operating costs far outpacing sales, and staffers were tough to hold onto amid incidents of shoplifting, harassment, vandalism and an arson that caused upwards of $500,000 in damage in 2022. 'After the arson and the fire, I had a lot of outreach from folks who were very concerned, but they realized our resolve was to get that store reopened within four days, in record time,' said Lund on Friday, who predicted better days ahead for downtown despite its well-documented challenges. 'Our capital city is going to pull through this. There are too many business leaders and city staff, and people who care so deeply about weathering this storm.' Lund said he had met with city officials and the property owner on Wednesday to discuss preserving the space to someday accommodate another grocer. 'We are going to have our shoulder into helping the city with a grocery alternative to the degree that's possible,' said Lund, noting the Downtown Development Corporation, a new nonprofit real estate subsidiary of the St. Paul Downtown Alliance, was also engaged 'to ensure we can actively bring that to fruition.' Lunds will continue to offer online delivery in the area. In late 2011, a heavily divided St. Paul City Council voted 4-3 to complete the 254-unit Penfield development after a previous developer walked away during the economic downtown. The decision not only installed new luxury housing in a corner of downtown better known for small artist studios. It also drew Lunds, which was hailed at its opening in 2014 as a badly-needed addition to an increasingly-residential downtown short on grocery options. The city was able to sell the development in 2016 to real estate investment company Jones Lang LaSalle for a profit. 'We opened this store early in St. Paul because of the population base,' he said. 'We were excited then about the development prospects, and certainly the Penfield project. We were profitable within that year-plus, and then for seven years. We were on a good trend, and then things began to change, most significantly the pandemic. The issue was remote work, and that was a national and international issue.' Efforts to switch up food offerings, reduce store hours last year and make other changes were unable to make the math work on paper. 'This was the downtown grocery store, and every neighborhood needs a grocery store,' said Council Member Rebecca Noecker on Friday. 'Even in the midst of this difficult decision, they've agreed to leave all of their equipment in place, and the landlord has agreed to that. All the shelving, all the coolers, all the refrigeration will still be there. My priority is going to be working with city staff to try to find another grocer who wants to come into the space, knowing all the infrastructure will be there for them.' Lund said his company has maintained a grocery for more than 40 years in Highland Park, which shifted locations on Ford Parkway in 2022 into freshly-built space within the Highland Bridge development. Though initial planning was put on hold in 2020, Lunds still plans a mixed-use development on Grand Avenue that would incorporate apartments above a new grocery, replacing the former home of a North Face clothing retailer and surrounding real estate around 799 Grand Ave. 'We're still going to develop land on Grand Avenue at some point. We see that as a development opportunity,' said Lund, noting that since the 2022 arson at the downtown location, 'my relationship has grown significantly with Mayor Carter as well as other business leaders, working on the framework to get through this difficult time.' Lund said his company had worked with the St. Paul Area Chamber and the Downtown Alliance on public surveys of the Central Business District to assess perceptions of crime downtown, which have shown improvement as crime trends have softened. Still, he said, downtown suffers because too many city, county and state employees now work remotely, even as some employers in the private sector begin to call their employees back to the office. 'Between the city, county and the state, that's a pretty significant population,' Lund said. 'There is national recognition that workforce presence is part of a bustling city. That is well within the mayor, and county and state to influence. Our capital city needs us back. Many businesses that also experienced remote work, you're seeing a national trend to shift that back.' Lund said the Downtown Alliance's Downtown Investment Strategy, released last year, and the launch of the Downtown Development Corporation were bright spots, and the opening of the new Pedro Park this fall and several office-to-housing conversions in the pipeline gave him optimism for the future. For downtown St. Paul, 'there is an upcoming resurgence,' Lund predicted. 'None of us can put our finger to a specific date, but things will get better.' Local News | Concert review: Justin Timberlake dazzled the crowd at the X, at least the ones who could see him Local News | New nonprofit and its leader provide a strategy for downtown St. Paul's revival Local News | Over a St. Paul Valentine's Day lunch hour, judges married 21 couples for free in Ramsey County Local News | Want to sing at the Ordway? All ability levels invited for Minnesota Bach Festival. Local News | Folk rock act the Lumineers to return to St. Paul in July
Yahoo
19-02-2025
- Entertainment
- Yahoo
16th annual Knockout Homelessness fundraising event takes place Tuesday
Some local celebrities went head-to-head in the boxing ring Tuesday night in a fight against homelessness. The Erie City Mission and the Bizzarro family hosted the 16th annual Knockout Homelessness fundraiser event at the Bayfront Convention Center. Local shelters provide warmth as homeless population battles bitter cold temps. This year's celebrity fighters were Chris Pine, executive director of Erie Events, and Drew Whiting, CEO of the Downtown Development Corporation. The event featured raffles, dinner, and of course, boxing matches to raise money for the City Mission's Men's Shelter Program. Crawford Co. residents impacted by stolen SNAP benefits 'Ticket sales are great. You see a sold-out crowd here… over 600 people and every single one of them here to support a really good cause,' said Erin Layden, director of development for the Erie City Mission. Layden also said the organization brought a live auction back to the event this year which was very popular. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
