By: Frederick Melo
January 30, 2013
St. Paul’s Schmidt Brewery renovation begins
St. Paul Mayor Chris Coleman joined developers Tuesday, Jan. 29, for an official groundbreaking at the historic Schmidt Brewery, a $100 million project to bring artist lofts and studios for yoga, dance, pottery, performance and other artistic disciplines to West Seventh Street.
The brewery’s vacant bottle house and brew house will be rehabilitated by next year to provide 247 new units of affordable housing targeted to artists. In addition, Dominium Development will construct 13 new townhomes.
To convert a large corner of the brewery into housing, more than $69.3 million in tax-exempt bonds were issued by the city’s Housing and Redevelopment Authority, and more than $4.2 million in environmental cleanup funds were contributed by the city, Ramsey County, the Metropolitan Council and the Minnesota Department of Employment and Economic Development.
Dominium expects to receive more than $50 million in federal low-income and historic tax credits and $22 million in Minnesota state historic tax credits.
The West Seventh Street/Fort Road Federation also plans to convert part of the brewery campus into commercial development.
For more information: http://www.schmidtartistlofts.com/