Minneapolis-based Ryan Cos. US Inc. said Monday that it has been selected to redevelop Ford Motor Co.’s former plant site in St. Paul’s Highland Park neighborhood.
In a statement, Ryan said it “will immediately begin an extensive due diligence period to understand the history and complexities of the site” and will work with the city of St. Paul on a detailed development plan.
“We know this will not be a small undertaking,” said Mike Ryan, market leader for the development and construction company. “The City of Saint Paul and numerous stakeholders have invested tremendous energies in re-thinking the site over the past decade, and this gives us a great basis for our work.”
The statement did not include any details of Ryan’s plans for the site or what it offered to acquire the site. A Ryan spokesperson said the company is not commenting beyond the press release at this time.
Tony Barranco, Ryan’s vice president of development, told Finance & Commerce last August that the developer was quite interested in the project.
“It’s a fairly unique urban site, and we’ve taken a lot of time looking at what it could be,” Barranco said. “But we’re waiting for more forward movement on it.”
The Ford site was marketed by the Minneapolis office of CBRE, which set a Feb. 23 deadline for proposals for the site. Ryan would develop the 122-acre property, while another 22.55-acre portion of the property was marketed separately.
The Ford plant closure was first announced in 2006, and demolition started in 2013. For more than a decade, the Ford site has been the focus of an intensive community planning effort. In a 2017 draft master plan for the site, a community task force found that “the site is best repositioned as a mixed-use urban neighborhood that advances economic, environmental and social sustainability.”
Ryan has built and developed numerous projects in the Twin Cities metro area in recent years, including the multi-block property that eventually became home to Wells Fargo’s downtown Minneapolis office campus, apartments, a hotel, a parking ramp and the Commons park.
“I’m glad to see they chose a local company. They understand the area and know the history. They know a little about the site. I think that is great,” said Herb Tousley, director of real estate programs at the University of St. Thomas.
“It’s a big project, but they have done other big projects,” he said. “I think they are well-qualified to handle it. It won’t be easy because there are so many stakeholders. But if anyone can do it they can.”
The site, which is on the border of St. Paul and Minneapolis, offers views of the Mississippi River and access to light rail and bus rapid transit stations.
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