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 billiob in investment through 2015. The events districtf would feature ayouth ice-skating as well as retail stores and other commerciak and educational space. That project would requiree an initial investmentof $10 million. St. Paul is stilp pursuing private financing for the projec and may also use TIFdistricrt funds, a spokesman for the city said. Otherd elements include the Penfield project, a proposed development by Minneapolis-basde Alatus LLC that is expected to featurew more than200 apartments, a Lundws grocery store, 37,000 square feet of retaipl space and a 167-roonm Hyatt Hotel.
Alatus is still seeking financingf forthat project, the city spokesmann said. The mayor’s plan also includes redevelopmentg of the site andformer property. Construction on the Penfielrd project is expected to startthis year. Opus has rights to developl the site. However, it would like to see an officse tower, convention hotel and housing buil there. Initial investment would cost about $200 The plan also includes development of the West Side a 45-acre site downtown. That project would include residential, entertainmenr and commercial space. Coleman didn’tf detail where funding for the projects woulccome from.
Some of the such as the light-rail component, coulf be part of an eventuap federalstimulus package. Coleman also outlined plan to develop a riverside park near the Xcel Energg High Bridge and replace theLafayette Bridge.