ST. PAUL, MN – Skyline Towers, a 24-story, 504-unit high-rise that is just off Interstate 94 near Lexington Parkway in St. Paul, is undergoing a $15 million renovation by its new owner, St. Paul-based CommonBond Communities. The building’s previous owner, Sentinel Management, faced growing crime and drug problems and deteriorating conditions, so last year it agreed to sell the property to CommonBond, the non-profit housing and redevelopment organization.

CommonBond bought the property and began the building’s overhaul with tax subsidies from Ramsey County and financing from such private investors as Minneapolis-based U.S. Bancorp. Renovation is expected to be completed this spring.