Board approves revised land sale agreement, advancing Rice Creek Commons Project
The Ramsey County Board of Commissioners has approved an amended purchase and sale agreement with Ryan Companies for the phased development of Outlot A at Rice Creek Commons. This agreement moves forward plans for a 10-acre commercial project on the northern portion of the 40-acre site in Arden Hills.
Ryan Companies is proposing a 157,000-square-foot advanced technology project for the site. The company is currently in a due diligence period, with a final development agreement expected to be presented to the Joint Development Authority (JDA) for review on April 7. If approved, closing on the first phase is anticipated by April 30.
“This amended agreement is a significant step toward bringing tangible development to Rice Creek Commons,” said Ramsey County Commissioner Tara Jebens-Singh. “We are optimistic about work beginning this spring and appreciate the collaboration with Ryan Companies, the City of Arden Hills, and the JDA.”
The total purchase price for the land is $9.2 million. Ryan Companies has committed to investing up to $3.5 million in sustainable design, including a hybrid ground-source heat pump system expected to reduce greenhouse gas emissions by 65%.
Rice Creek Commons is a redevelopment of the former Twin Cities Army Ammunition Plant (TCAAP), a site that has undergone extensive environmental cleanup. The JDA envisions the area as a hub for economic growth, sustainable development, and a mix of housing and commercial spaces.
“This project will set a new standard for innovation and sustainability,” said Peter Fitzgerald, vice president of real estate development at Ryan Companies. “We are excited to move forward with our partners to bring this vision to life.”
The total future development value of Rice Creek Commons, a 427-acre parcel, is estimated at $1 billion.