Economic activity along Green Line reaches 5-year high

As construction on the Green Line, formerly known as the Central Corridor (CCLRT), edges closer to completion, St. Paul is seeing economic activity along the line reach pre-recession levels.

Excluding infrastructure permits related to the construction of CCLRT, and still with four months of the year to go, economic investment along the line in 2013 has reached a 5-year high with more than $143 million paid in building permits. Comparatively, 2012 saw $142 million in building permits. These figures show a 49 percent increase in permit valuation activity since 2008.

“After spending years watching crews build the light rail line, the business community is clearly ready to see construction re-shape the buildings and businesses along the Central Corridor,” said Steve Johnson, a Senior Vice President at BankCherokee and chair of the Midway Chamber of Commerce. “After years of hearing so many plans and different ideas about what may happen, the growing number of building permits represents something that is very real and extremely positive.”

Building permits have reached record highs along University Avenue,” said Ann Mullholland, co-Chair of the Central Corridor Funders Collaborative. “We have remained committed to ensuring the successful development along the corridor - both for current businesses and residents and those yet to come - and today’s data shows strong movement in the right direction. Imagine what will happen to University Avenue when the Green Line fully opens.”