The St. Paul Downtown Development Corporation has purchased the historic Empire Building and adjacent Endicott Arcade as part of ongoing efforts to revitalize downtown and activate street-level retail along 5th Street.
The $745,000 acquisition was funded entirely through private investment, with no public funds used. The Empire Building includes roughly 55,000 square feet, including about 12,000 square feet of ground-level commercial space. Upper floors have been vacant for several years, and the building is currently closed.
SPDDC President Dave Higgins said the properties offer an opportunity to connect strong activity areas downtown and create new reasons for people to live, work and visit the city center. Plans will include community engagement to balance market considerations with neighborhood aspirations.
The acquisition supports the Downtown Alliance’s broader investment strategy, which prioritizes revitalizing 5th Street as a mixed-use corridor linking major civic destinations such as Rice Park, Mears Park, CHS Field and Grand Casino Arena.
SPDDC aims to bring new uses to the retail spaces in the near term while longer-term plans are developed. Cushman and Wakefield will manage the property.
The purchase aligns with the Alliance’s recently launched Reimagine Downtown St. Paul initiative, which invites public input through meetings, events and an online survey open through Jan. 31.
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