Oxbo West 7th Street Mixed Use Project
202 West 7th Street, St. Paul, MN
Nominated by: Opus Development Company, LLC
The Oxbo West 7th Street Mixed Use Project is a redevelopment of one of the most popular street corners in St. Paul. It is located just blocks away from the Xcel Energy Center, the RiverCentre, the Ordway Center, and the Science Museum of Minnesota. The site used to house Free at Last Church, Seven Corners Hardware, and two cold storage buildings. The $52.5 million redevelopment on the 1.2 acres site greatly improved the sleepy commercial corner into a vibrant urban apartment complex with added retail space. The six-story mixed-use luxury apartment and retail development is the first privately funded multifamily development in St. Paul.
The redevelopment process for Oxbo included a pre-demolition hazardous building materials survey of the former commercial buildings. During redevelopment, all contaminated soil and fill material was properly hauled to a permitted landfill or reused off-site. In total, 19.42 tons of asbestos containing soil were excavated and sent off site for disposal and, in addition, 13,400 tons of soil that was unfit for onsite reuse was disposed of offsite as well. Along with a great amount of soil that needed to be excavated, some unexpected remediation efforts of the site also entailed the abandonment of 112-foot deep well and the removal of an underground storage tank. The historic urban setting of the site and harsh Minnesota winters also added to the complexity of the redevelopment project. This was an area of St. Paul that had not seen any significant redevelopment activity for over a century.
Oxbo’s economic impact on the West 7th Street neighborhood has already been felt and there will be benefits realized in the future as well. With 191 new residential units and 11,500 square feet of ground-level retail space, Oxbo is valued at $52.5 million. The new building will generate approximately $580,000 in tax revenue for St. Paul and create and retain 50 jobs for the surrounding community. As a result of the remediation and redevelopment, there will be an increases of $46,485,000 in the assessed property values and an increase of 91% in real estate taxes. The project incorporated sustainable design principles reflected in the City of St. Paul’s comprehensive plan that aim to use energy efficient systems, reduce the carbon footprint, increase creative density, and preserve natural resources. Oxbo serves as the spark for economic stimulation and further development along the West 7th Street neighborhood.
- $20,651,000 – Private capital/equity
- $31,750,000 – Loans
- $99,000 – Minnesota Department of Employment and Economic Development Contamination Cleanup Grant
- Opus Development Company, LLC
- Opus Development Build, LLC
- Opus AE Group, LLC
- Elness Swenson Graham Architects, Inc.
- City of St. Paul
- Landmark Environmental, LLC
- Minnesota Pollution Control Agency
- Minnesota Department of Employment and Economic Development
- Applied Environmental Sciences, Inc.
- Carl Bolander and Sons
More info: http://www.oxboliving.com/