Development Corp. buys Empire Building

Downtown Development Corp. buys Empire Building
By Tim Spitzack | Editor | January 2026

The St. Paul Downtown Development Corporation has made another bold move in its quest to revitalize troubled downtown properties. In mid-December, it purchased the Empire Building at 360 N. Robert St. and the adjacent Endicott Arcade at 134 5th St. for $745,000. This was its third acquisition in 2025. It also purchased the Alliance Bank Center building at 55 5th St. E., which closed abruptly in March displacing several businesses, and the condemned Capital City Plaza Parking Ramp at 50 4th St. All transactions were funded through private investments.

The 55,000-square-foot Empire Building includes a one-story arcade with 12,000 square feet of ground-level commercial and retail space. The building’s seven floors of commercial and office space have been vacant for many years, and the entire building is closed. The acquisition is part of a larger effort to revitalize 5th Street, which connects Grand Casino Arena, CHS Field, Rice Park and Mears Park and other nearby amenities. The goal is to create a vibrant, mixed-use corridor that includes street level retail and commercial spaces.

“As we work to build a thriving, more connected downtown, the Empire Building and adjacent Endicott Arcade will help that vision become a reality,” said Development Corp. President Dave Higgins in a statement. “With this acquisition, we can activate a key block along 5th Street and begin connecting the areas of strength in downtown to its core. Our goal is to bring new opportunities to the area and create more reasons for people to want to live, work and visit downtown St. Paul. As plans get developed, we will engage the community for input on our overall thought process.”

The Development Corp. is a nonprofit real estate development and finance organization and subsidiary of the St. Paul Downtown Alliance, which in recent years developed the Downtown Investment Strategy to attract more residents, businesses and visitors. The Alliance is now seeking public feedback on its latest initiative called Reimagine Downtown St. Paul: Transforming the Core. With the help of consultants from Creative Catalysts and Mend Collaborative, the Alliance will host several in-person and virtual opportunities in the coming months for residents, visitors, business owners, developers and staff from governmental agencies to share ideas that will help create a unified vision for downtown’s future.

Engagement activities will focus on pedestrian challenges, skyway system improvements, redevelopment projects, office-to-residential conversions, Central Station development and ongoing street redesign projects. Community meetings, pop-up events and focus groups will be held, and an online survey is available now through Jan. 31. For more details and meeting dates, visit downtownstpaul.com/reimagine.

“As downtown St. Paul continues to evolve, it’s essential that the people who live, work and visit here have a voice in shaping its future,” said Alliance President Joe Spencer in a statement. “This is a chance to build a downtown that reflects our community’s aspirations, strengthens our economic foundation and reimagines the heart of our city for generations to come.”

See more from this editorial series: Revitalization of Downtown St. Paul