Developer seeks $3.5M St. Paul loan for Grand/Victoria project
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.
đ 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.
đ Relevant Data
In Macalester-Groveland neighborhood of St. Paul, 75.7% of residents are White, compared to 53.2% White in St. Paul overall.
Macalester-Groveland neighborhood in Saint Paul, Minnesota (MN) â 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%.
Demographic Trends in Minnesota Homeownership â Minnesota State Demographic Center
In St. Paul, African American households represent 18% of the population but 23% of severely cost-burdened households.
2025-2029 Consolidated Plan â 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.
2025-2029 Consolidated Plan â City of Saint Paul
đ° Source Timeline (2)
Follow how coverage of this story developed over time
- 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.