Look, I get it. Some real estate people think investing in downtown St. Paul is more vexing than a bad poker hand.
News flash: They're wrong. In spades.
I can't say this strongly enough: The art of the possible ripens into reality when we believe in it.
Yes, there are many who simply say, "It can't happen here."
Tell that to Exeter Realty, PAK Properties, Todd Geller and David Brooks, among others. They have invested in properties downtown and across St. Paul because they see true value and opportunity for growth.
And employers including Ecolab, Securian Financial, Frauenshuh Cos. and Ackerberg Group have doubled down on St. Paul real estate and look forward to capitalizing on ensuing growth in this city.
They are successful in part because, unlike others, they are playing their hands. They invest in the gap between perceived value and true value, just as a wise card player is fairly confident that the strong hand she's holding will grow in value when the next cards are dealt.
If that sounds like too much of a gamble, consider this: When I was on the development team at the Saint Paul Port Authority, working on the Treasure Island Center project, we found that leasing prospects most readily considering tenancy were those from outside this region.