📔 Topics ℹī¸ About 📱 iOS App
Back to all stories

Developer seeks $3.5M St. Paul loan for Grand/Victoria project

Dec 18 Breaking Twin Cities 2 sources 4 relevant data

A developer has asked the City of St. Paul for a $3.5 million loan to help finance a mixed-use housing and retail project at Grand Avenue and Victoria Street. On December 18, 2025, the St. Paul City Council approved creation of a $9 million tax-increment financing district for the same area, a larger public-financing step than the earlier loan request.

Housing Business & Economy Local Government
This story is compiled from 2 sources using AI-assisted curation and analysis. Original reporting is attributed below. Learn about our methodology.
Show source details & analysis

📊 Relevant Data

In Macalester-Groveland neighborhood of St. Paul, 75.7% of residents are White, compared to 53.2% White in St. Paul overall. ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html)) ([City-Data.com](https://www.city-data.com/neighborhood/Macalester-Groveland-Saint-Paul-MN.html))

Macalester-Groveland neighborhood in Saint Paul, Minnesota (MN) — City-Data.com

In Minnesota, White households have a homeownership rate of 77%, while Black households have 26%, Hispanic households 53%, and Asian households 64%. ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf)) ([Minnesota State Demographic Center](https://mn.gov/admin/assets/MN_HomeownershipReport_final_3.3.2025_tcm36-671952.pdf))

Demographic Trends in Minnesota Homeownership — Minnesota State Demographic Center

In St. Paul, African American households represent 18% of the population but 23% of severely cost-burdened households. ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf))

2025-2029 Consolidated Plan — City of Saint Paul

In St. Paul, there is a shortage of rental units for households earning 0-30% AMI, with only 7,265 units available for 24,170 households. ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf)) ([City of Saint Paul](https://www.stpaul.gov/sites/default/files/2025-05/ConPlan_2025_2029_FINAL_052825.pdf))

2025-2029 Consolidated Plan — City of Saint Paul

📌 Key Facts

  • On December 18, 2025, the St. Paul City Council approved creation of a $9 million tax-increment financing (TIF) district at Victoria Street and Grand Avenue.
  • The $9 million TIF district covers the Grand/Victoria area (Victoria Street and Grand Avenue).
  • The TIF approval represents a larger public-financing step for the Grand/Victoria project than an earlier financing attempt.
  • An earlier request involved a developer seeking a $3.5 million St. Paul loan for the Grand/Victoria project.

📰 Source Timeline (2)

Follow how coverage of this story developed over time

December 18, 2025
10:25 PM
St. Paul City Council approves $9 million TIF district at Victoria and Grand
Twincities by Frederick Melo
New information:
  • St. Paul City Council approved creation of a $9 million tax-increment financing (TIF) district at Victoria Street and Grand Avenue.
  • The Council action occurred on December 18, 2025.
  • The TIF approval represents a larger public-financing step for the Grand/Victoria area than the earlier $3.5 million loan request.
October 24, 2025
9:10 PM
Developer asks St. Paul for $3.5 million loan for housing, retail at Grand and Victoria
Twincities by Frederick Melo