Ryan Cos was awarded development of the St Paul’s Site by Ford Motor Company (NYSE:F). The Minneapolis based company will redevelop the 122 acres piece of land where the Ford initially assembled pickup trucks. The land situated in desirable proximity to the Highland Park brings to life myriad of opportunities for Ryan Cos. The company did not disclose purchase details like the price or closing on sale timeline.
Ryan was thrilled to seal the deal and said it would begin work immediately and start building on development plans with the city of St Paul. The property was re-zoned in 2017 by the city and put into a mix of uses, including the development of high and medium density architectural structures. It was in December that the CBRE’s office in Minneapolis began advertising the property to developers.
Ryan Cos Renovation Plans
Ford remarked that it had no better partner in its vision for the site. The expected development plans would achieve sustainable innovation that should serve the growing demands of the 21st global community.
Ryan Cos took central interest especially in the development of the Snelling Avenue, A site in St Paul, where it has developed apartment buildings on top of Whole Foods. The company is also planning to redevelop the O’Gara Bar and Grill.
The company also stated that its topmost priority is adding to the existing amenities especially the current institutions, retails, parks and access to both the airports and downtowns. Tremendous energy regarding research and re-thinking of the St Paul’s Site has been put in the past ten years. The foundation, therefore, gives Ryan Cos a better avenue to further their idea.
The company laid out a development plan timeline in which it states that the master development will complete a 12 months environmental review that should be completed by 2019. The developer will then write forward a development plan in 2019 or 2020. The building is expected to begin in 2020.
City Council Members of the City of St Paul expressed satisfaction with Ryan Cost. The council members were pleased to say that the firm was in good shape to foster a grand plan for the development of the property given its background of working in Cities. The council said they would work for hand in hand to ensure the development plans suits the needs of the neighborhood as well as within the city’s agenda and vision.