SAINT PAUL, MINNESOTA (June 17, 2011)—Yesterday, more than a hundred community members and local officials gathered to celebrate the grand opening of Frogtown Square. Community leaders cut the giant ribbon together, signaling the completion of a nearly 15-year effort to revitalize the northeast corner of Dale Street and University Avenue in the heart of Frogtown. neighborhood.
“I thank all the partners involved for their dedication to redevelop this corner for the community,” Mayor Chris Coleman said. “This project, combined with our work around the Light Rail Transit, will spur additional transit-oriented development along Central Corridor, bringing more jobs and new business to the Frogtown Neighborhood.”
Over $4 million in grants and loans from the City of Saint Paul were used for site acquisition and preparation.
“City support laid the foundation for the project and eventually led to $6.4 million in financing from HUD” said Ward One Councilmember Melvin Carter. “Frogtown Square is an important project for our community and also a great example of the type of development that can only happen when leaders from all levels work together.”
“Frogtown Square showcases how public investment can leverage private capital to attract housing, businesses and jobs to highly accessible locations along our region’s transit corridors,” said Metropolitan Council Member Jon Commers. “It’s an important goal for the city, this corridor and for the region. The Council is a proud investor in this project and many others throughout the region, using Livable Communities dollars to advance public and private investment in community, livability and economic development.”
Episcopal Homes, Inc. owns and manages Kings Crossing Apartments. The 50 apartments are designed for active, independent residents over age 62 living on limited incomes who are looking for safe, quality housing with support coordination. Episcopal Homes, in partnership with Northeast Dale-University (NEDU), LLC, was awarded HUD 202 financing, which allows them to offer very affordable rents to seniors with incomes at or below 50 percent of area median income.
NEDU owns and operates 11,700 square feet of first floor commercial space and the surface parking lot. The retail space includes a barbershop, ethnic grocery store, women’s clothing store, wireless store and Subway restaurant. NEDU is comprised of four local community development companies: Model Cities, Inc, Neighborhood Development Center, Aurora St. Anthony Neighborhood Development Corporation, and Greater Frogtown Community Development Corporation.
The project created roughly 35 new, permanent jobs. Construction included business opportunities totaling $6.3 million. Sixty-nine percent of the business was directed to minority-, women- and small business enterprises.
Project funders included United States Department of Housing and Urban Development, City of Saint Paul, Metropolitan Council, Minnesota Department of Employment and Economic Development, Ramsey County, Bigelow Foundation, Twin Cities Local Initiatives Support Corporation (LISC), United States Department of Health and Human Services, Neighborhood Development Center, Greater Metropolitan Housing Corporation and other private investors.
Visit www.stpaul.gov/rebuildstpaul for more information.