The project is expected to take up to 10 years to complete, and it will cost about $1.5 billion. A centerpiece for the project will be a 300,000-sf cultural center called "Mythica: The Center for World Mythology and Human Journey." Trooien's proposed retail, residential and entertainment complex across the Robert Street Bridge from Downtown will try to evoke an "Old World" feel by using brick-and-stone construction.

The first phase of his project, slated for completion by the end of next year, would provide more than 1,100 condominiums, a 30-story hotel and dozens of unique restaurants and retailers that have yet to hit the Twin Cities market. The company wants to pre-sell about half of the condo units before construction starts. Industry observers and city officials say that the size and scope of the project may prove daunting to JLT.

JLT Group has done well in buying and selling industrial and office properties, including warehouses, in St. Paul, particularly in the city's Midway district. Trooien's company owns about 110 acres in Woodbury near Interstates 94 and 494 that he's getting ready to develop. JLT Group also owns the River Park Plaza building, which is near the site of the Bridges of St. Paul, as well as the former Unisys plant on Shepard Road in St. Paul and the Roseville Corporate Center.