Market forces condos out of St. Paul skyscraper project
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A real estate developer who wants to build downtown St. Paul's next skyscraper says the weak housing market has prompted him to give up on building condominiums there.
Instead, Bob Lux of Alatus Partners says he is retooling the project on the site of the city's old Public Safety Building.
Cecile Bedor is St. Paul's director of planning and economic development. Bedor said she is confident Lux will build something there, but what will go inside is still up in the air.
"They're still moving forward on the redevelopment of that. Just like every condo project in the metro area, the market still has not come back yet, but I know Bob Lux and his firm still view it as a key development site downtown. And I know that they're pursuing a mixed-use project there. It just won't include condos right now," Bedor said.
Mayor Chris Coleman has praised the developers for involving the community in their design of the project. But sales for the 33-story tower have been slow-going over the past two years.
Lux said through a spokeswoman that he will announce his new plans for the site within a month. In the past, his firm has entertained the idea of bringing a grocery and hotel into the mix.
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