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OAKDALE, MN-A St. Paul developer plans to spend up to $40 million to build a new-mixed used development, which includes a new medical office center, on a site here. Oakcrest Village, an office, retail and housing development project, is being developed by St. Paul-based MSP/Young/Oakdale, a limited liability corporation, whose partners, Dick Zehring and Alex Young, both work for Welsh Cos.

Construction has already begun on a 30,000-sf medical office building that will feature an 11,000-sf HealthEast Clinic and a 4,500-sf space for Tessar Dental.

MSP/Young/Oakdale, the lead developer of the project, took over the site from the Hartford Group, based in Eden Prairie, MN, which purchased the option for the 30-acre site and started the city approval process on what was to be a $100-million mixed-use development. Young describes the $100-million figure as “over-inflated.”

Besides the office, the project will also include a housing component consisting of 90 townhouse units to be developed by Eden Prairie-based Town & Country Homes of Minnesota, and a 60,000-sf retail phase, which would be developed by Woodbury, MN-based developer Kami Inc. It would consist of five buildings. Both the housing and retail phases also should be underway by the end of the year, Young says.

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