The St. Paul City Council on Wednesday approved a key piece of financing for the downtown apartment complex and grocery store development known as the Penfield. The vote was 4-3, with the council’s two new members, Chris Tolbert and Amy Brendmoen, supporting it.
Rendition of the Penfield
The vote cemented about a quarter of the $62 million project’s funding by earmarking future property tax revenue generated by the development to finance it. The council approved the overall plan in December, but that was before Tolbert and Brendmoen took office.
Council member Dave Thune, who represents downtown, told the Pioneer Press the vote was the project’s “final hurdle.”
Council members Russ Stark, Melvin Carter and Kathy Lantry maintained their opposition to the project. The building, which will be located on 10th St. & Minnesota St., is expected to be completed by July of 2014.