Downtown St. Paul Welcomes New Residential Tower and Grocery Store, Signaling Urban Revival
Downtown St. Paul is experiencing a revitalization with the opening of the Stella Residences, a $70 million office-to-residential conversion project, and a new Aldi grocery store. The Stella Residences, formerly the 17-story Ecolab tower on Wabasha Street, now offers 176 luxury apartments. Developer Carl Kaeding described the conversion as challenging but rewarding, with the building currently at 20% occupancy and aiming for 94-95%. The new Aldi, located about half a mile from the Stella, marks the return of a grocery store to downtown St. Paul after a nearly two-year absence. City and business leaders view these developments as crucial steps in addressing the central business district's 35% office vacancy rate, a consequence of commercial leases expiring and fewer workers returning to offices post-pandemic. Joe Spencer, Downtown Alliance President, emphasized that increasing residential density is the core strategy for the city's revival.
