St. Paul Mayor Melvin Carter announced Tuesday that the city had reached a final development deal with Ryan Cos. for the remaking of the former Ford assembly plant site, a project that will feature thousands of new homes powered by renewable energy.
At a news conference, officials from the city, Ryan and Gov. Tim Walz heralded the agreement as a step that will enable Ryan to purchase the 122-acre site from Ford and move forward on one of the state’s largest redevelopment opportunities.
Ryan will ask the city for $53 million in tax-increment financing to help build out infrastructure and construct affordable housing, a smaller amount than previously proposed. The project will feature the state’s largest urban solar array and hundreds of units of affordable housing, and could be worth $1 billion when fully developed, officials said.
The deal will have to be approved by the City Council.
After extensive community meetings, Ryan unveiled plans for a mixed-use development, featuring commercial and retail space and 3,800 units of housing on 40 new city blocks, with a mix of single-family homes along tony Mississippi River Boulevard, condos, row houses, apartment buildings and senior rentals. No building would be taller than six stories. More than 50 acres would be set aside as public-access open space. The developer has promised to plant at least 1,000 trees and create a couple of parks within the development.
This is a developing story. Check startribune.com for updates.
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