Dr. Bill McGuire, principal owner of the Minnesota United FC professional soccer team, is doubling down on investing in the future of St. Paul.
The city of St. Paul announced Thursday that McGuire will redevelop the former CVS site at the corner of Snelling and University avenues. Plans call for building market-rate apartments and providing new retail services.
McGuire, former CEO of UnitedHealth Group, is fully aware of the struggles and opportunities of the Midway neighborhood. Led by McGuire, 20 local families who invested in the soccer franchise opened Allianz Field in 2019. It’s bounded by I-94 and Snelling Avenue.
In recent months, McGuire has been watching the construction of four buildings on land that’s adjacent to the stadium. Through an LLC that McGuire formed called Snelling-Midway Redevelopment (SMR), he is investing $170 million to build two restaurants, an office building, and a hotel. Golden Valley-based Mortenson is doing the construction.
The Midway Diner, Picco pizza place, and the office building are scheduled to open this year, while the hotel will be ready for guests in the summer of 2027.
As McGuire pressed forward with construction in this United Village development, he regularly looked at an eyesore across the intersection—an abandoned CVS drugstore that was surrounded by a metal fence.
In 2024, as part of McGuire’s United Village plans, a gigantic loon sculpture was installed in the southeast corner of the Snelling and University intersection. The distinctive loon sculpture faced the CVS, but the art and empty building were separated by the busy intersection and light rail line that runs along University Avenue.
Last month, the CVS was demolished. The St. Paul City Council passed a resolution to take down the CVS building, which stood vacant for four years following the pandemic. The demolition created a path for McGuire.
“The private development will be led by 499 Snelling Realty Company, an enterprise managed by Dr. Bill McGuire,” the city said Thursday in announcing the news. In its release, the city of St. Paul emphasized that “no tax increment financing (TIF) or other financial support from the city, port authority, or state is being sought to finance the project.” Allianz Field also was constructed without government funds.
“This project will build on the historical importance of the Midway area and add to the vitality, excitement, and opportunity present in this diverse and important neighborhood,” McGuire said in the news release. “The CVS location sits on the high-profile Snelling Avenue corridor and is at the center of a vibrant community, directly across from the iconic sculpture The Calling, that so magnificently represents our state.”
McGuire stressed that he would “ensure that the new building adds to and appropriately reflects the important history of the neighborhood and the dynamic future for those who live, work, and visit the area.” He also said that he hopes his project will encourage others to invest in St. Paul.
Molly Coleman, a City Council member who represents the Midway area, said that McGuire’s additional investment will “expand on the energy and excitement around what we all know should be the most vibrant, welcoming corner in St. Paul.”
Mayor Kaohly Her met with McGuire during her campaign for mayor as well as since her November election. She’s been talking to business leaders about improvements to city services as well as gathering feedback on regulatory processes.
“I continue to be grateful to Dr. McGuire for his investment in the future of the Midway and St. Paul, and look forward to seeing a new, beautiful building that reflects the neighborhood and the exciting future for University Avenue,” Her said in Thursday’s statement.
“This is a remarkable example of how, with hard work and clear collaboration by private and public actors, we can make immediate and positive strides forward for our city,” the mayor said.
“We must build for the betterment of our community,” McGuire said. “This is a chance to bring forth more great additions and the opportunities they create for residents, businesses, and visitors alike. It is time for meaningful development and investment that enhances our city and improves the quality of life for all who are part of it. The Midway can be the flagship that shows our intent and its success.”
