St. Paul mayor calls for $3B in development for downtown - Minneapolis / St. Paul Business Journal:

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The projects would call for $3 billion in investment through 2015. The eventsw district would feature ayouth ice-skatinv rink, as well as retail stores and other commercia l and educational space. That project would require an initial investmentof $10 St. Paul is still pursuing private financing for the projecty and may also use TIF district a spokesman for the city Other elements include thePenfield project, a proposes development by Minneapolis-base Alatus LLC that is expectedd to feature more than 200 a Lunds grocery store, 37,000 square feet of retailo space and a 167-room Hyatt Hotel. Alatus is stillk seeking financing for that the cityspokesman said.
The mayor’ds plan also includes redevelopment of the site andformee property. Construction on the Penfield project is expectesd to startthis year. Opus has rightas to develop the site. However, it would like to see an officr tower, convention hotel and housing buil there. Initial investment would cost about $200 million. The plan also includes developmenr of the WestSide flats, a 45-acrd site downtown. That project wouldr include residential, entertainment and commerciap space. Coleman didn’t detail where fundinb for the projects wouldcome from. Some of the such as the light-rail component, could be part of an eventuapl federalstimulus package.
Coleman also outlined plans to develolp a riverside park near the Xcel Energuy High Bridge and replaces theLafayette Bridge.