The property sale is expected to close within 120 days.
The League of Minnesota Cities Building Company Board accepted a purchase offer on Sept. 30 for League-owned property located on the block west of the League’s current parking lot. A market-rate offer for the property, formerly occupied by Saxon Auto, was presented by the St. Paul City School, a public pre-K-12 charter school.
The Building Company Board has undergone a deliberative and thoughtful review and negotiation of the transaction to make sure that what happens aligns with the long-range goals and needs of the League.
The property sale is expected to close within a 120-day due diligence period. During that period, the school needs to secure financing and work through a regulatory approval process with the City of St. Paul.
The St. Paul Port Authority (the League’s development consultant) will complete financial vetting of the transaction on the League’s behalf. The League will retain some input on site plan, utility location, and ingress and egress on the new project.
Background on property and development
The League began acquiring properties on the block — including the former Saxon Auto property — in the mid-2000s in part to secure extra space to expand if ever needed. The renovation of the existing building and additional emphasis on a flexible work environment has rendered that expansion unnecessary.
In 2015, the League partnered with the Port Authority and Mortenson Construction to prepare and market the site. Since that time, the League was unable to find a project that would work and had stopped actively marketing the site.
Meanwhile, the League completed removal of unsafe structures and conducted environmental clean-up. The completed site work and sale to St. Paul City School will help protect the League’s financial interests and demonstrate investment in the neighborhood we call home — two important priorities for the League’s Board.
For questions about the sale of the Saxon site, contact League Deputy Director Luke Fischer at firstname.lastname@example.org.