Redevelopment of Former CVS Site to Advance in Saint Paul’s Midway Neighborhood

SAINT PAUL, MN – The City of Saint Paul today announced the planned redevelopment of the former CVS site in the Midway neighborhood. The private development will be led by 499 Snelling Realty Company, an enterprise managed by Dr. Bill McGuire. The project will build upon extensive investments and construction in the area – including United Village and Allianz Field – that have been completed or are currently underway.  Development on the former CVS site is expected to bring market-rate apartments and new retail services to the neighborhood.

“This project will build on the historical importance of the Midway area and add to the vitality, excitement, and opportunity present in this diverse and important neighborhood,” said McGuire. “The CVS location sits on the high-profile Snelling Avenue corridor and is at the center of a vibrant community, directly across from the iconic sculpture The Calling, that so magnificently represents our state.”

We will work to ensure that the new building adds to and appropriately reflects the important history of the neighborhood and the dynamic future for those who live, work, and visit the area – and that it helps promote further investment of all types in the community.”

The defunct CVS building, which sat vacant for four years following the COVID pandemic, was demolished last month as the result of a resolution sponsored by Ward 4 City Councilmember Molly Coleman and passed unanimously by the City Council. That action, coupled with the leadership of Saint Paul Mayor Kaohly Her, helped facilitate the sale of the property by the prior owner that created a pathway for the land purchase and planned development by Dr. McGuire.

“Watching that vacant CVS come down was a huge milestone, and now – not even a month later – we get to celebrate the potential spurred by that demolition,” said Councilmember Coleman. “It is welcome news for the Midway that Dr. McGuire is continuing to invest and expand on the energy and excitement around what we all know should be the most vibrant, welcoming corner in Saint Paul.”

Pending approvals from its board, the Saint Paul Port Authority intends to partner with McGuire to fund and manage the relocation of existing overhead public utilities as an essential step to constructing the building and adjacent parking that is envisioned for the site. No tax increment financing (TIF) or other financial support from the City, Port Authority or State is being sought to finance the project.

“This is a remarkable example of how, with hard work and clear collaboration by private and public actors, we can make immediate and positive strides forward for our city,” said Mayor Her. “I continue to be grateful to Dr. McGuire for his investment in the future of the Midway and Saint Paul, and look forward to seeing a new, beautiful building that reflect the neighborhood and the exciting future for University Avenue.”

“We must build for the betterment of our community. This is a chance to bring forth more great additions and the opportunities they create for residents, businesses, and visitors alike”, McGuire said. “It is time for meaningful development and investment that enhances our city and improves the quality of life for all who are part of it. The Midway can be the flagship that shows our intent and its success.”

Dr. McGuire is the principal of Snelling-Midway Redevelopment LLC (SMR), which is currently developing United Village, and one of the owners of the Minnesota United FC soccer team. Construction by SMR that is currently underway includes two restaurants, an office building, and a new public garden, all planned to open this year, and a boutique hotel scheduled for completion and opening in the summer of 2027.

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