AECOM PROPOSAL SELECTED FOR RIVERFRONT SITE

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An exciting new riverfront development opportunity now has a developer.

In November the Ramsey County Board selected AECOM to be the developer of a nearly 12 acre site located along the shores of the Mississippi River.

Ramsey Count spent $17 million to demolition a jail that was formerly located on the site with the intentions of cleaning up the site and making it ready for the development. That was nearly 20 years ago and to date the site remains undeveloped. It’s not that developers haven’t tried to develop the site, but more so that it is a rather tricky site to develop to begin with.

AECOM’S DEVELOPMENT VISION

A mixed-use project is what AECOM believes is a perfect fit for the site. Their plans currently include four buildings that would be home to retail space, a hotel, Class A office space and upscale residential apartments and condos. They’re also envisioning a waterfall that could potentially work its way down the bluffs to meet the Mississippi River.

One major design element that is included in the plans also is a terrace that would cross over the railroad tracks and Shepard Road. This would provide space for the new mixed-use towers to be constructed which would literally site over the railroad tracks.

A PHASED APPROACH

It’s an ambitious plan and one that would need to be completed in multiple phases.

The first phase of the project is expected to cost between $200 and $280 million and could potentially be completed by 2021. The initial phase would include two towers that would be home to a hotel and 250 +\- apartment and condo units.

More details on this exciting project will be released over the coming months. We’ll be sure to post more information on our website and social media accounts as soon as it becomes available.

 

Alex JohnsonComment