The proposed $788 million development with four new towers will transform how downtown residents, workers and visitors connect with the Mississippi River. Proposed private development could yield more than $15 million in new property tax revenue per year.
Last week, Saint Paul Mayor Melvin Carter unveiled his 2022 budget proposal. Included in his budget proposal was a 6.9% increase in property taxes, which is equivalent to a $127 increase for a median value home in Saint Paul.
Twin Cities Housing Market Returning to Historic Trends
According to new data from the Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, buyer activity in the month of July more closely resembled a typical, pre-pandemic summer than the frenzied buying spree seen over the last year or so. Demand as measured by pending sales was down 11.2 percent from July 2020 but was flat compared to July 2019.'