Rhett McSweeney, of Senior Investors LLC, gave an update on the Sholom Home campus redevelopment at the District 10 board meeting on June 18.
Senior Investors plans to create a senior living center with a focus on individuals with memory care conditions. An application has been submitted to the State of Minnesota to add the property to the historic registry.
If the application is approved, it will then be forwarded to the U.S. Department of the Interior for a final determination. Historic designation will qualify the property for tax credits and ensure that the historic characteristics will be preserved. An application has been submitted to the City of St. Paul for tax-increment financing to support interior renovations.
If the two applications are approved, construction could begin within six months with a spring 2015 opening at the latest.
Neighbors present at the meeting commented that the property had improved in the last year, although mowing and graffiti remain a concern.
Additionally, neighbors expressed concerns about the property being used for paid parking during the Minnesota State Fair. If Senior Investors LLC is able to close on the property by Aug. 1 as expected, there will be no paid parking during the fair, McSweeney said.
