Mixed-use project breaks ground next to Harriet Park in St. Paul
Across the street from Harriet Island on St. Paul’s West Side, construction is underway on a new mixed-use district, Farwell-on-Water.
The 7.25-acre property will house market-rate and affordable housing, artist studios, office space, a restaurant and a one-acre public green space, according to the Edina-based real estate investment firm Buhl Investors.
Construction on the $113 million project should be done next summer.
Rents have not yet been determined but the affordable units will be available to people making up to 50% of the area median income.
“Access to affordable housing is not just about providing stable shelter; it’s also about improving the lives of our residents so they can focus on employment, education, and taking steps to achieve long-term success,” St. Paul Mayor Melvin Carter said at a ceremonial groundbreaking Friday morning, where he was joined by developers Pete Deanovic and Harrison Mohagen.
Deanovic, founding principal of Buhl Investors, called the project “a space where art, culture and community can thrive.”
The development overlooks downtown St. Paul and the St. Paul Cathedral. It’s next to Harriet Park and includes the former Farwell, Ozmun, Kirk & Co. warehouse building, which has housed artist studios at 102 Water St.
There will be 221 market-rate units and 63 income-restricted units, including seven marked for supportive housing services for people with homelessness or disabilities.
