Riversedge is an innovative public-private project that creates jobs, revitalizes our capital city’s historic riverfront and expands public access to one of Minnesota’s greatest natural resources – the Mississippi River.
Developer-partner AECOM’s proposed $788 million development includes four new towers and will transform how downtown residents, workers and visitors connect with the river. The programming of the four towers is flexible based on market demand and changes as the pandemic resolves. However, the first tower is planned to include residential housing.
- Phased construction will include Class A office and residential space, and street-level retail, entertainment and hospitality.
- A land-bridge extension of public realm space over Shepard Road and the adjacent railway, extending downtown Saint Paul directly to the Mississippi River and doubling the usable area of the site.
- Integrated public spaces including the first section of the city’s proposed River Balcony, a river-level esplanade, and an amphitheater and bandshell overlooking the river.
- New roadway connections to the site and supplemental parking.
- A $5 million contribution from the developer to an affordable housing trust fund, which would be used to expand housing options in Saint Paul.
To support the publicly funded portion of this important public-private project, Ramsey County has requested $40 million in state bonding funds. This funding would be entirely dedicated to the design and construction of public realm space that will double the size of the site and provide a physical pedestrian connection between downtown Saint Paul and the Mississippi River.
Ramsey County currently has a preliminary development agreement with AECOM. Following a formal development agreement, the project could break ground as early as late 2021.