Custom House / Hyatt Place - Downtown Saint Paul Post Office

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mulad
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Custom House / Hyatt Place - Downtown Saint Paul Post Office

Postby mulad » August 6th, 2012, 3:15 pm

The Post Office building in downtown Saint Paul has been on the market for a while now, but it looks like a buyer is ready and an announcement should be coming shortly.

Operations there moved out to an expanded facility in Eagan in late 2010 as the SPUD project got ready to go.

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spectre000
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Re: Downtown Saint Paul Post Office

Postby spectre000 » August 6th, 2012, 3:30 pm

Wow! That's great news. Any other details you know of? Any redevelopment of it is going to be a massive undertaking. Probably a $100+ million.

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Re: Downtown Saint Paul Post Office

Postby mulad » August 6th, 2012, 3:51 pm

The only tidbit I can really think of is that the building itself will probably be sold at a bargain-basement price, simply because the rehab costs will be so high. The utility costs for that building are pretty massive, so the USPS wants to get it off their hands.

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spectre000
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Re: Downtown Saint Paul Post Office

Postby spectre000 » August 6th, 2012, 4:29 pm

I think they were asking for $2 million for it at one time. Pretty bargain basement for such a huge building with a lot of upswing. It'll cost a huge sum to redevelop. But it could easily house a few hundred apartments or hotel rooms, plus office/retail space.

A link to a web brochure advertising the building.
http://photos.linkurealty.com/listing_p ... .20.11.pdf

aguaman
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Re: Downtown Saint Paul Post Office

Postby aguaman » August 13th, 2012, 11:33 am

cool.thanks for the information.
i hope that gets renovated into a mixed use structure that can benefit from SPUD proximity. i think this rail underpass will need to be upgraded to improve aesthetics for residents:
https://maps.google.com/maps?q=55155&hl ... 24,,0,4.21

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Re: Downtown Saint Paul Post Office

Postby mulad » August 13th, 2012, 11:58 pm

That area has changed since Google drove through -- the skyways were the first things to be removed in the Union Depot project, and the building they connected to was torn down shortly thereafter. Part of the train deck was shaved away, freeing up room to widen the sidewalk.

I doubt I've walked through there more than once since the changes, so I can't say exactly how it feels, but it should be a lot better.

stp1980
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Re: Downtown Saint Paul Post Office

Postby stp1980 » August 14th, 2012, 8:16 am

A giant indoor parking ramp in there too. Apartments on the top floors would have an AWESOME view!

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spectre000
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Re: Downtown Saint Paul Post Office

Postby spectre000 » November 30th, 2012, 9:53 pm

http://www.cbre.us/o/minneapolis/proper ... rview.aspx

The United States Postal service has retained CBRE in the marketing and sale of 180 Kellogg in downtown St. Paul's Lowertown neighborhood. The Eugene McCarthy Post Office is a 750,000 +/- SF building, built in phases in 1933 and 1966. This iconic property sits on 1.67 acres along the Mississippi riverfront and offers tremendous redevelopment opportunity. The property was set to be sold this fall but the sale fell through.

Joe Hughes and Jerry Driessen of CBRE Minneapolis/St. Paul are representing the United State Postal Service in the sale of this asset. The asking price for the property is $5,000,000 and offers are due by January 15, 2013. Information regarding this property and the call for offers process can be found on this website or by contacting our CBRE marketing team.

Image

DFPegg
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Re: Downtown Saint Paul Post Office

Postby DFPegg » December 1st, 2012, 11:07 am

When I lived in Lowertown years ago, I loved how the post office had the fastest elevator downtown.

gcm
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Re: Downtown Saint Paul Post Office

Postby gcm » December 2nd, 2012, 7:02 am

Is the new addition between the main post office and the railroad tracks a parking ramp? Is it included in the sale of the building? If it's a parking ramp, I'd chop off the top five or six floors which would make for much better view from the main post office building. If it isn't a parking ramp, I think I'd just tear the whole thing down.

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Re: Downtown Saint Paul Post Office

Postby aguaman » February 1st, 2013, 7:25 am

Anyone have an update?

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Re: Downtown Saint Paul Post Office

Postby lordmoke » February 1st, 2013, 10:17 am

There's a front page article on F & C right now, but it's behind the paywall. The only available information from it is that the Post Office drew five bids for the property.

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Re: Downtown Saint Paul Post Office

Postby twincitizen » February 1st, 2013, 4:06 pm

It just says they got five bids and are now talking with the highest bidder. The only bidders mentioned are Sherman Assoc. and Exeter Realty. Sherman says 250 to 350 market-rate apartments are likely.

Look for this sucker to soak up lots of tax credits and subsidy (state historic credit, environmental cleanup grants, some affordable units, etc.)

The article also mentions other large, difficult downtown StP properties on the market (Macy's, Ramsey County Gov't Center @ 50 West Kellogg)

gcm
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Re: Downtown Saint Paul Post Office

Postby gcm » February 3rd, 2013, 12:13 pm

The last vestiges of the post office, the counter and P.O. boxes, will be moving to U.S. Bank building in February.

http://www.twincities.com/localnews/ci_22433363/

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Re: Downtown Saint Paul Post Office

Postby John21 » March 1st, 2013, 4:41 pm


Aville_37
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Re: Downtown Saint Paul Post Office

Postby Aville_37 » March 1st, 2013, 6:15 pm

Exciting news! Will be interesting to see how it comes into play. Assume that they won't be able to modify the exterior that much. Be nice if they could add balconies overlooking the river, etc. and some retail/restaurant facing Kellogg.

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Re: Downtown Saint Paul Post Office

Postby Wedgeguy » March 2nd, 2013, 12:48 pm

Aville_37 wrote:Exciting news! Will be interesting to see how it comes into play. Assume that they won't be able to modify the exterior that much. Be nice if they could add balconies overlooking the river, etc. and some retail/restaurant facing Kellogg.
Balconies on the back might be a possiblity, but getting street front door to retail will never fly. Not to say there can't be an indoor arcade with shops and services located on the ground floor.

BKV Group
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Re: Downtown Saint Paul Post Office

Postby BKV Group » May 13th, 2013, 9:29 am

BKV Group is proud to be the architect for this project! Please watch our Facebook Page and Website for updates on plans and rendering coming soon!

tabletop
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Re: Downtown Saint Paul Post Office

Postby tabletop » May 14th, 2013, 3:20 am

Sigh...

Aville_37
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Re: Downtown Saint Paul Post Office

Postby Aville_37 » May 14th, 2013, 3:27 am

BKV Group wrote:BKV Group is proud to be the architect for this project! Please watch our Facebook Page and Website for updates on plans and rendering coming soon!
Yea!!


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