Nonprofit takes over Alliance Bank Center
The Saint Paul Downtown Development Corporation has acquired the vacant Alliance Bank Center in downtown St. Paul from Madison Equities and will assume property management and security from the city, officials confirmed. The nonprofit, a subsidiary of the St. Paul Downtown Alliance, will keep the building and connected skyways closed while conducting a 12‑month redevelopment evaluation, with updated skyway maps coming before winter.
Business & Economy
Local Government
📌 Key Facts
- Owner: Saint Paul Downtown Development Corporation (subsidiary of St. Paul Downtown Alliance)
- Transfer: SPDDC assumes property management and security from the City of St. Paul
- Status: Building and associated skyways remain closed; redevelopment evaluation over next 12 months
- Background: SPDDC purchased the property’s bank note earlier this year; prior owner was Madison Equities
- Statements: Quotes from SPDDC President Dave Higgins and Mayor Melvin Carter tying the project to downtown revitalization