Associated Bank said Thursday it has finalized an agreement with Ryan Cos. to develop property at Snelling and Selby Av. in St. Paul. Terms of the agreement were not released
Minneapolis-based Ryan has struck an agreement with upscale grocer Whole Foods to move into the mixed-use complex, which will also include 208 apartments.
The grocery store will be located at the current location of the Associated Bank branch at 176 Snelling Av. N. (across from O'Gara's bar).
A new two-story bank branch will be located a block north of the Whole Foods development.
“We have truly outgrown the building we’re in and are looking forward to greeting our customers with a new and improved banking experience,” said Darren Dewing, Associated Bank's senior vice president and director of retail distribution, in a statement.
"With more than 30 financial services professionals in one location, we realize that having a functional space for our colleagues to best serve our customers will be key to our ongoing success in the neighborhood. Ryan continues to be a great partner to both Associated and the local community. We’re honored to be a part of the rich history and the bright future of St. Paul,” he said.
Janet Moore covers commercial real estate for the Star Tribune.