RYAN COMPANIES AND CITY REACH DEAL FOR FORD MOTOR SITE

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Image | Ryan Companies

Exciting details were announced today in regard to the redevelopment of the 122-acre former Ford Motor Company assembly plant in the Highland Park neighborhood.

The City of Saint Paul, Ryan Companies and Governor Tim Walz announced earlier today that a deal has been struck between the City and Developer for $53 million in tax-increment financing for infrastructure. That $53 million is a huge part of the estimated $92 million needed for infrastructure improvements. The rest of the funds are expected to come from public and private financing.

This agreement is a crucial step in allowing Ryan Companies to move forward with purchasing the site and ultimately allowing them to be able to develop the “inviting, vibrant community” they have envisioned.

THE DETAILS

Site Overview

Image | Ryan Companies

Bound by Ford Parkway, Cleveland Avenue S and Mississippi River Blvd, the Ford Motor redevelopment project will in total create 40 blocks of new retail/commercial space, office space, housing and green space.

Here are some of the early details we have.

To start, the project is set to include a considerable amount of housing, around 3,800 units to be exact. One of the most exciting details of the housing aspect of the project is that it will not be just a single type (i.e. apartments). Ryan Companies plans to offer a number of “diverse housing choices” including senior living, affordable, attainable, market-rate, row-homes, condos and single-family homes that will be available for rent or sale. Housing will not be located within just one area of the site but rather will be spread across the site in its entirety.

Along Ford Parkway there will be a number of mixed-use buildings that offer “vibrant street-level retail” that will eventually become home to a mix of retailers and commercial tenants. At the moment Ryan Companies is planning around 265,000 square feet of office space and 150,000 square feet of retail space within those buildings, though that could change in the future.

In addition to the buildings planned for the site there will also be 50+ acres of green space within the project that will include public park space, walking, jogging and biking trails. In addition, the project has a sustainable energy plan that will include the state’s largest urban solar array. Ryan Companies also plans to plant nearly 1,000 trees throughout the development.

A change from previously announced details is that no building within the entire project will stand taller than 6-stories. Buildings that are 6-stories tall will be located along Ford Parkway and towards the intersection of Ford Parkway and Cleveland Avenue S while low rise buildings will be located at the rear of the site along Mississippi River Blvd.

In total, when Ryan Companies has fully developed the project the total cost is expected to exceed $1 billion.

Image | Ryan Companies

Image | Ryan Companies

WHAT’S NEXT?

Next steps for the project will include the approval of the deal between the City of Saint Paul and Ryan Companies by the Saint Paul City Council which is expected to occur before the end of the year.

It is anticipated that site prep work will begin the spring with construction on the initial phases of the project beginning in late 2020/early 2021. Those initial phases would include the construction of for-sale row houses and apartments, some of which would be available for occupancy as soon as fall 2021. The entire project is expected to be fully built out within 15-20 years.

As more details become available in the future on the Ford Motor assembly plant, we will be sure to post them right here on The Development Tracker | Saint Paul.