St. Paul Ford Plant May Turn Into Exclusive Condo Development
The St. Paul, Minnesota Ford Plant sits on some of the best real estate in the region. The property overlooks the Mississippi River and those in the know are expecting that when manufacturing stops in a couple of years, the property will develop into one of the premier locations in the region. A mixed use development of million dollar condos, restaurants, offices, and restaurants is expected for the property.
Ford has announced that the plant where it makes small pickups will be closed in about two years.
ReMax real estate agent Jim Swift says he’s watched the neighborhood’s property values skyrocket in recent years. The plant is located right on the Mississippi River gorge, which Swift says will be wonderful for housing developers.
Redeveloping the site also could mean a big increase in property taxes paid to the city. But retail jobs that might replace the factory typically pay much less. Many workers at the Ford plant make around $56,000 a year. via wcco.com
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