The St. Paul Downtown Development Corporation has purchased the condemned Capital City Plaza parking ramp from Madison Equities with the goal of having it fully reopened by late 2026.
The ramp is located at 50 Fourth St. near the Alliance Bank Center, which the nonprofit corporation took full ownership over and site control of in October. Financial details of the transaction were not disclosed, but a spokesperson for the nonprofit said the purchase was fully funded by private investment “and will prevent the city from spending public funds to secure the property.”
The ramp, situated near the Green Line’s Central Station, was condemned by the city in April 2025. The corporation “will immediately begin evaluating the work necessary to correct safety violations, with the goal of reopening it as a public parking ramp by the end of 2026,” reads a prepared statement from the corporation.
Dave Higgins, president of the corporation, said in the statement that “reviving this property fits our mission to take on catalytic projects that strengthen the downtown core and support future investments.”
Both the ramp and the Alliance Bank Center will remain closed to the public for the “foreseeable future,” according to the corporation. Skyway connections to Osborn370 and Treasure Island Center remain open.
The nonprofit, which formed a year ago under the auspices of the Downtown Alliance, plans a public engagement process to examine key wants and needs downtown and inform a long-term improvement strategy.
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