Midway Chamber Economic Development Summit – The Vision for the Midway Panel Discussion
On April 15, Steve (CEO & Founder, WMI) joined a panel of local real estate professionals to discuss their visions for St. Paul’s Midway. Brought together by the Midway Chamber of Commerce, the group discussed the draws of the Midway, challenges faced in the Midway, how managing property in the area differs from other neighborhoods, and their visions for the area.
Wellington Management headquarters near the Midway and is deeply invested in the area, with The Pitch, a mixed-use retail & residential building located directly across from Allianz Field, and numerous properties owned and managed just 2.5-miles away on Energy Park Drive.
Steve’s ties to the Midway go back decades, having lived and worked in the area since the ‘80s. His interest in the area’s development was sparked when the City of St. Paul tried to redevelop Bandana Square, which WMI renovated and repositioned in the early 2000s and still presently manages. The area has “always been very dynamic and energetic,” said Steve, which he thinks will help the area to continue to flourish. With an interesting mix of commercial retail, education, land, and people, there are countless opportunities for developers to enhance the area’s vibrancy and contribute to its success. Other panel members cited the ease of access, parking, affordability, and sense of community as draws to developers and tenants alike.
Despite the many draws of the Midway, the area continues to face various challenges affecting both developers/managers and tenants. Most panelists, including Steve, cited poor road infrastructure and delayed modernization as deterrents to the area. Steve commented that there should be a more aggressive effort to modernize industrial properties specifically, making them more appealing to various prospective tenants. Another challenge panelists cited was the missing sense of safety, though it was noted that crime in the area has gone down.
Panelists stated that leasing and developing in the Midway both have numerous benefits and drawbacks. From a leasing perspective, the area is well-situated with numerous public transportation hubs, freeways, and offers reasonable commutes for employers. It is full of creative spaces oriented towards small businesses. For those same reasons, the Midway remains a prime location to invest in management and development. With more money and time invested in revitalizing obsolete and historic buildings, the community will thrive even more.
So, what is the vision for the Midway? Vibrancy. More murals, more diverse small businesses and restaurants that appeal cross-generationally, bolstered infrastructure backed by local and city government, and more community engagement within existing tenancy and the neighborhood as a whole.
The audience, consisting of local business owners, government officials, and investors, heartily agreed with this vision and are committed to working toward this vibrant Midway.
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Thank you to the Midway Chamber of Commerce for inviting Steve to represent Wellington Management, Inc. at the Economic Development Summit!