Ramsey County to vote on $26 million funding commitment to the Park at RiversEdge

The Ramsey County Board of Commissioners is set to commit $26 million to the Park at RiversEdge, a nine-acre public park to be built as part of a transformative mixed-use development along the Mississippi River. Ramsey County’s funding commitment for the park – to be voted on by the Board of Commissioners on Dec. 20 – would be the first public investment in the park.

The urban park would be constructed over Shepard Road and the adjacent railway, extending from downtown Saint Paul directly to the river and doubling the usable area of the site. Altogether, the projected $800 million development represents a once-in-a-century opportunity to transform an urban tract of land into a mixed-use destination that would better connect residents, workers and visitors with the Mississippi River.

“The Park at RiversEdge is a one-of-a-kind destination that will improve our connection to the Mississippi River – one of our community’s greatest assets,” said Ramsey County Board Chair Trista MatasCastillo. “The county’s investment sets the stage for our partnership with the state of Minnesota to realize this transformative project and encourage additional private investment at RiversEdge.”

In the 2023 legislative session, Ramsey County is seeking a state investment of $26 million dedicated to the acquisition, design, furnishing and construction of the Park at RiversEdge. State funding would complete the public investment required to build the park and spark additional private development as the new amenity becomes a draw for visitors, residents and office workers. Proposed private development – which includes Class A office, residential space, and street-level retail, entertainment, and hospitality in four new towers – could yield more than $15 million in new property tax revenues per year.

The Park at RiversEdge will be a signature public space and component of Saint Paul’s River Balcony, a 1.5-mile promenade along downtown Saint Paul’s Mississippi River bluff connecting public spaces, civic landmarks, development sites and providing new connections to the river. The first of four towers is slated to include residential housing, with future spaces programmable based on market-driven demand.

“This is a catalytic investment in the future of downtown Saint Paul and creating a wholly new experience for people to enjoy our beautiful downtown and riverfront,” said Joe Spencer, president of the Saint Paul Downtown Alliance. “Our partnership with the county, the city, the state and the private sector will transform downtown as we know it today.”

In addition to the funding commitment, the Board of Commissioners is poised to approve a new preliminary development agreement with AECOM, the world's trusted consulting firm.

“At a time when many downtowns are recovering from the pandemic, we are pleased to see the Park at RiversEdge moving forward and proud to work with Ramsey County and the City of Saint Paul on this once-in-a-generation opportunity," said Matt Crane, Chief Executive, of AECOM's U.S. West Region.

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Contact: Sara Swenson, 952-221-5368