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Developer backs out of contract with Ramsey County.

A developer has backed out of a $10 million plan to redevelop some prime riverfront real estate in downtown St. Paul, the St. Paul Pioneer Press reported Sunday.

The developer, Opus Northwest, recently notified Ramsey County officials that it was giving up its exclusive rights to market several pieces of county-owned land on Kellogg Boulevard. 600 county workers in the old Ramsey County Jail and former West Publishing building currently occupy the site. The redevelopment plan called for high-rise condos and office buildings to be built in the two former buildings stead.

Opus indicated that the struggling economy was the major reason for abandoning the current plan. A key aspect of their plan was to secure another tenet on the land but the current economic climate made that goal impossible. Opus will continue to market the site but not under the existing contract with Ramsey County.

http://www.twincities.com/stpaul/ci_10995246?nclick_check=1