Real estate/Structured Finance

Lowertown Sports and Leisure District, St Paul, Minnesota

FAs early as 2006, we began working on the conceptualization of a mixed-used urban development anchored by a 20,000 seat soccer stadium in downtown St. Paul, Minnesota. The purpose of this project was to use an expansive sports and leisure complex to reanimate and energize the downtown by developing an extension to the ‘Lowertown’ district of St. Paul.

The property used to be the railroad yards and warehouse district of 19th and early 20th century St. Paul. The project foresaw a hotel with conferencing facilities and spa, a sports medical clinic and fitness center as well as sports related retail space.

By creating multiple cash-flows within the stadium itself we strived to achieve a financial sustainable facility unusual to this property type. On the rest of the property we  proposed high density housing (both market rate and affordable rental), retail and ‘affordable’ office space. In addition to this, infrastructure required for an elite soccer youth program was included which encompassed training and residential facilities. Master planning was done with the collaboration of the Minneapolis-based firm Shane Coen. Architects contributing to this project include Office da, Boston, and Thomas Pfifer, New York.,

PayneOakland hopes to begin finalizing concepts for a similar project by the beginning of 2015 with a view to commencing construction in 2016.  We are currently working on similar projects in Belgium, Brazil and Turkey.