The Saint Paul Downtown Development Corporation was formed with a mission and mandate to invest in, develop, and redevelop, catalyst properties in downtown Saint Paul. This effort will be executed in partnership with local public and private stakeholders, and investors broadly, who prioritize and focus on urban development and revitalization with a commitment to accelerating the next chapter and long-term success of Minnesota's capitol city.
Why downtown, and why now?
It’s no secret that the last several years have been hard on the Central Business District in downtown Saint Paul. But transforming into a modern, lively city center is key to cultivating and securing economic and residential stability for the future across the city and region.
In spring 2024, the Alliance released its Downtown Investment Strategy calling for critical changes in approach and underscoring key priorities. As an initial step in executing the strategy, in fall 2024, the Alliance released the findings of an office-to-residential conversion study of 20 downtown Saint Paul commercial buildings, which found that half of the properties studied meet preliminary key criteria for a successful conversion and warrant further exploration.50
In preparing the Downtown Investment Strategy and through broader market discussions, it became clear downtown required a centralized organization to drive its turnaround in order to be successful. The Saint Paul Downtown Development Corporation will be that driver.
GOALS
Embracing proven tools that have successfully revitalized downtowns across the nation, as well as others sourced and tailored locally, the Saint Paul Downtown Development Corporation will pave the way for a more vibrant downtown Saint Paul by investing in, developing and redeveloping catalyst properties.
ORGANIZATIONAL GOALS
- Increase investment
- Add 20,000 residents
- Maximize property tax revenue
- Improve experience
Market Data
Gain a deeper understanding of downtown Saint Paul’s evolving landscape through key market trends and economic signals. This growing hub of insight is designed to illuminate opportunity and support informed decision-making for those shaping the future of downtown.
With strong demand drivers and a healthy housing pipeline, downtown Saint Paul is primed for continued residential investment. Our latest market study outlines opportunities across affordability levels and reveals where the next wave of multifamily growth could happen.
Maxfield Research
July 25, 2025
Office-to-residential study finds half of properties studied meet threshold for conversion
Conducted by architecture and design firm Gensler, the study evaluated the compatibility of 20 commercial properties as office-to-residential conversions. Properties included in the study were identified by the Saint Paul Downtown Alliance and total nearly 3.8 million square feet.
Gensler
November 8, 2024
News
Stay informed on recent news and activity from the Saint Paul Downtown Development Corporation.
Press Release
November 7, 2025
SPDDC will work to get neglected ramp in downtown core operational by end of 2026
The Saint Paul Downtown Development Corporation (SPDDC) today announced it has purchased the Capital City Plaza Parking Ramp from Madison Equities. The ramp is located at 50 4th St. near the Alliance Bank Center, which the SPDDC took full ownership and site control of in October. SPDDC is not disclosing the financial details of the transaction beyond that it was fully funded by private investment and will prevent the city from spending public funds to secure the property.
Press Release
October 10, 2025
SPDDC evaluating future opportunities for the property, which is central to transforming the core of downtown Saint Paul
The Saint Paul Downtown Development Corporation (SPDDC) today announced it has acquired the Alliance Bank Center building from Madison Equities. The transaction gives the SPDDC full ownership and control of the site, located in the core of downtown Saint Paul at 55 and 56 5th St E., after purchasing the property’s bank note earlier this year. Financial details of both transactions are private.
Press Release
June 10, 2025
The Saint Paul Downtown Development Corporation (SPDDC) today announced it has purchased the bank note for the former Alliance Bank Center building, located in the core of downtown Saint Paul at 55 5th St E. The financial details of the transaction are private.
LEADERSHIP
