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Friends,
This week we shared a six-month status update on the Downtown Investment Strategy including Gensler Architecture’s report on office-to-residential conversion opportunities in Downtown Saint Paul. The report concludes that of the 20 buildings assessed, 10 of them could make for strong conversion candidates based on their scoring criteria (floor plate size, building form, services, context and envelope). Gensler has conducted this type of analysis on more than 1,400 buildings in cities around the country, and on average, only 30% of the buildings they've looked at make for promising candidates. The report does not take into account all of the external factors that can impact a building's ability to convert, but the fact that 50% of our analyzed building stock clocked in as good candidates is a solid indicator. This confirms assumptions we've held about ways that we can add vibrancy and vitality downtown, and address rising commercial vacancy and growing concerns of blight and disinvestment in our commercial core.
In addition to the Gensler findings, we are also excited to share progress updates on the public realm priorities (more than $240 million in public sector infrastructure investment is underway!) as well as positive redevelopment progress on key redevelopment projects. You can find the full announcement here, along with several stories linked below.
This week I also want to call your attention to the start of the Saint Paulidays season kicking off Saturday evening in Rice Park, GLOW opening this Thursday at CHS Field, the Mears Park Lighting happening next weekend and near-daily events rolling right through to the end of the year. While I can't believe they're here already, there really is nothing better than the holidays in downtown.
Finally, please take a moment to look at the construction update at the bottom of this week's newsletter. The good news is that Minnesota Street will be fully reopened in the coming week! However, as Robert Street continues its multi-year transformation there will be a number of closures in the coming weeks that will require detours around 6th and 7th Streets. Please pay special attention to these updates in the coming weeks and if you can, make an intentional effort to patronize these businesses along Robert Street that will remain open during construction.
Take care,
-Joe
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