The tax district is expected to direct as much as $75 million into the new mixed-use project. The project is expected to be one million sf and cost upward of $1 billion, according to Trooien, the locally based developer who is president of JLT Group Inc.
City officials and JLT Group will work on drawing up a financing package, and construction could begin within a year.
The "Bridges of St. Paul" will have about 550,000 sf of shops, restaurants, a spa, a hotel and movie theaters. It will also include about 3,000 residential units.
The project will feature digital dome theaters, a World Cultures Bazaar, a Children's Wonder Castle and a Human Journey Project. The developers also plan to offer daily activity on the "main street," such as street festivals, parades, concerts, dance, pageants, exhibitions and cultural events.
The project would be built on about 75 acres of land on the banks of the Mississippi River across from Downtown.
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