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Ryan Closes on St. Paul Ford’s Site, Slates $1.3B MXU
Ryan Companies completed its $61-million purchase of the 122-acre parcel owned by Ford Motor Company in the Highland Park neighborhood of St. Paul. The carmaker sold the site after a nearly 100-year history of operations, and after completing extensive clean up and remediation.
Once developed, the project site will contain approximately 3,040 market-rate housing units, 760 affordable housing units, 265,000 square feet of office, 150,000 square feet of retail and 50,000 square feet of civic or institutional space. The project also features more than 55 acres of public and open space.
Ryan Companies plans to break ground in the spring of 2020 on the $1.3-billion redevelopment project, which is expected to span over a decade. “There will be several more announcements regarding partners, retailers, and users in the months and years ahead,” said Ryan SVP Tony Barranco.
Ford Motor Company was represented by CBRE in the land sale.
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