Ramsey County commits $26 million in funding to the Park at RiversEdge
Today, Ramsey County Board of Commissioners voted to contribute $26 million in funding to the Park at RiversEdge, making it the first public investment in the park.
The Park at RiversEdge will be built as part of a transformative mixed-use development along the Mississippi River. The nine-acre park would be constructed over Shepard Road and the adjacent railway, extending from downtown Saint Paul directly to the river, 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 destination that would better connect residents, workers and visitors with the Mississippi River.
“This is a really big and historic moment for us," said Ramsey County Board Chair Trista MatasCastillo. The County Manager Ryan O'Connor also added, “This puts us in a place of readiness that we have not yet been and this is a significant step forward on a major development project along the riverfront.”
In addition to today's vote, members of the County Board also approved a new preliminary development agreement with AECOM.
In the 2023 legislative session, Ramsey County plans to seek a state investment of $26 million in the upcoming state legislative session. The funds will be dedicated to the acquisition, design, furnishing and construction of the Park at RiversEdge. The state funding would complete the public investment required to build the park and spark additional private development such as street-level retail, entertainment, hospitality, office and residential space.
Learn more about the Park at RiversEdge