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amsey’s downtown, once the site of a disastrous housing venture in the late 2000s, has transformed into a thriving mixed‑use hub. The city’s strategic pivot after the collapse of a 2,400‑unit transit‑oriented development has turned the former “COR” area into a focal point for new apartments, a hotel, eateries, retail, and industrial space. Despite the Twin Cities’ broader challenges—high interest rates, stagnant rents, and a sluggish office market—Ramsey’s office vacancy rates now sit below the regional average, and its multifamily sector shows stronger rent growth than most neighboring communities.
The turnaround began in the mid‑2000s when planners envisioned a vibrant district anchored by the Northstar commuter rail station. When the Northstar line was slated for conversion to a more frequent bus service in 2024, Ramsey’s officials seized the opportunity to reshape the area. After the 2009 collapse of the original mixed‑use proposal and ensuing legal action against involved bankers, the city, together with PSD Land Development, acquired key parcels and set a long‑term redevelopment agenda. “We’ve been working on getting that done ever since,” said Sean Sullivan, the city’s economic‑development director.
Early 2010s saw a modest burst of construction, including a 230‑unit apartment complex that wraps around the rail‑station parking ramp. A lull followed, but from 2016 onward a steady stream of projects emerged. CommonBond’s 47‑unit Sunwood Village, the 122‑unit Park View East and 117‑unit Sapphire market‑rate towers, and the 175‑unit Affinity at Ramsey and Aeon’s 175‑unit Greenway Terrace age‑restricted developments all added density. “We’ve kind of been having a new apartment building every two years,” Sullivan noted. The latest, Skyline on Sunwood, adds 133 units and two 5,000‑sq‑ft retail endcaps opposite city hall, slated for completion this year.
Non‑residential growth has paralleled the residential boom. The 98‑unit Hilton Home2 Suites hotel, opening this summer, diversifies the district’s mix and boosts its overnight population. Roughly a dozen restaurants and retail outlets—ranging from a new bank to national chains like Kwik Trip, Chipotle, and Taco Bell—have opened or are under construction. “This summer and fall, we’re going to have four new restaurants offering new options for residents and workers,” Sullivan said.
Industrial expansion mirrors the district’s mixed‑use momentum. Oppidan’s speculative Bunker Lake Business Park now houses more than 400,000 sq ft of warehouse and manufacturing space across three buildings, while PSD recently completed an 85,000‑sq‑ft industrial project on Bunker Lake Road. Additional parcels—about 22 acres—have entered the market, marketed for medical office, retail, hospitality, or entertainment use. Before those sites develop, a 193‑unit, amenity‑rich apartment complex with 5,000 sq ft of retail and ample tuck‑under parking is slated for a four‑acre plot under contract with Roers Cos. Construction could start next year, with occupancy targeted for 2027–28.
The district’s accessibility is set to improve with the long‑awaited Highway 10 interchange reconstruction. A $140‑million effort will add a frontage road, eliminate roughly 70 direct access points, and streamline traffic flow for commuters and tourists alike. The redesign, which has moved beyond initial business‑owner skepticism, will replace the old “bulldoze all businesses” plan with a safer, more efficient corridor. “Now they’re certain that this is what it’s going to look like,” Sullivan said, highlighting the increased visibility and safety for local businesses.
Ramsey’s evolution from a failed housing project to a dynamic, mixed‑use community underscores the city’s resilience and forward‑thinking approach. With continued development, improved infrastructure, and a diversified economic base, the former COR area stands as a model for revitalization in the Twin Cities region.
