Cray Plaza

Cray Plaza is a large mixed-use development occupying a city block in the Lowertown neighborhood of Saint Paul, Minnesota. Originally named Galtier Plaza, the complex opened in 1986 as a major redevelopment project intended to help revive the historic warehouse district east of downtown Saint Paul. Its program combined housing, retail, restaurants, offices, parking, and community-oriented facilities rather than operating as a conventional single-purpose commercial property. The development was assembled after the Lowertown Redevelopment Corporation spent several years seeking a viable plan for Block 40 near Mears Park. Earlier proposals had failed, but a concept centered on mixed-use development and a downtown YMCA attracted Boisclair and Omni Venture, developers associated with Minneapolis's International Market Square. Robert Boisclair led the development, with Miller, Hanson, Westerbeck & Bell serving as architects. The project was named for Father Lucien Galtier, a Catholic priest associated with the early history of Saint Paul. At completion, the complex included 365 rental apartments, 121 luxury condominiums, 16 townhomes, approximately 192,000 square feet of retail and restaurant space, about 100,000 square feet of office space, and a five-level underground garage with capacity for 829 vehicles. Its architecture was shaped by the surrounding historic district, financing arrangements, and negotiations among the developer, the city, and the Lowertown Redevelopment Corporation. A six-story street-level base was used to relate the project to neighboring warehouse buildings, while the residential component was organized in the Jackson and Sibley towers. Jackson Tower rises to approximately 452 feet, just below applicable Federal Aviation Administration limits. The project experienced serious financial and operational difficulties. Construction delays, cost overruns, high interest rates, limited financial resources, and weaknesses in market analysis made it difficult to attract tenants during the development period. Different portions of the project were financed through separate arrangements, including public-sector financing for rental housing, private equity, and a loan from Chemical Bank. Following defaults, the Port Authority took control of the rental apartments. Contemporary accounts reported substantial losses for private investors and the project's lender, although the exact amounts vary by source. The commercial, condominium, and parking components were sold in 1989 to a Canadian investor for a reported amount in the low tens of millions of dollars. Later managers attempted to reposition the property, moving the food court to the ground floor and shifting the retail strategy away from an upscale regional destination toward neighborhood and downtown services. The mortgage holder obtained title through foreclosure in 1996. In 1999, an investor group managed by Wasmer, Schroeder & Company acquired the property and later undertook extensive remodeling, including conversion of underused retail areas to offices. Bigos Investments acquired the residential towers in 2003, while the commercial and parking facilities were sold to a California-based group in 2006. The complex was renamed Cray Plaza in 2009 after Cray Inc. became an anchor tenant and obtained naming rights. The new name reflected the presence of the supercomputer company in the property rather than a change into a consumer-electronics brand. Over time, the site shifted between shopping, dining, entertainment, office, and residential uses. In 2019, Bigos Properties acquired the retail portion and announced plans to convert much of the underused space into apartments. As of 2024, the conversion space was reported to remain vacant amid construction delays associated with the COVID-19 pandemic. The former YMCA area has been adapted into resident amenities serving the plaza and related properties.

Cray Plaza began as Galtier Plaza, a redevelopment of Block 40 in Saint Paul's Lowertown district. The Lowertown Redevelopment Corporation had sought for several years to bring a substantial project to the site near Mears Park, which was viewed as important to the revitalization of the historic warehouse district. Earlier attempts, including a proposal by Carley Capital Group, did not proceed. With a federal Urban Development Action Grant already secured and the deadline for using it approaching, the city sought a new development team. Boisclair and Omni Venture, whose previous work included Minneapolis's International Market Square, responded to the opportunity. Robert Boisclair assumed responsibility for the development, while Miller, Hanson, Westerbeck & Bell designed the project. The plan combined housing, retail, restaurants, offices, parking, and a YMCA. The development's name honored Father Lucien Galtier, a Catholic priest connected with the early history of Saint Paul. Design decisions reflected both urban design goals and the complicated ownership and financing structure. The street-facing base was kept to roughly six stories to relate to the cornice lines of nearby warehouse buildings. The residential mass was divided between two towers rather than concentrated in a single structure. Jackson Tower reached approximately 452 feet, while the shorter Sibley Tower was set back from the Mears Park frontage. The project also incorporated a distinctive roof and skyway connection intended to link the complex with downtown-related facilities. Galtier Plaza opened in 1986, but its construction and early operation were troubled. The project cost at least $140 million excluding the YMCA and certain other components. Financing was divided among multiple parcels and uses: rental apartments received bond financing through the Port Authority, the YMCA occupied a separate parcel, and other elements relied on private equity and bank lending. Delays, cost increases, high interest rates, inadequate resources, and errors in market positioning reduced the project's ability to attract tenants. After a default involving the rental-housing portion, the Port Authority took over the apartments. Reports from the period described major losses for private investors and Chemical Bank. In 1989, the retail, office, condominium, and parking elements, excluding the YMCA, rental housing, and energy plant, were sold to a Canadian investor. Subsequent management sought to improve performance by changing the condominium marketing approach, relocating the food court, and repositioning retail toward practical services for nearby residents and downtown workers. The mortgage holder obtained title through foreclosure in 1996. An investor group managed by Wasmer, Schroeder & Company purchased Galtier Plaza in 1999 and initiated a substantial remodeling program. Much vacant retail space was converted into offices. Bigos Investments acquired the residential towers in 2003, and a California-based group purchased the commercial and parking facilities in 2006. In 2009, naming rights were acquired in association with Cray Inc.'s tenancy, and Galtier Plaza became Cray Plaza. The property continued to evolve from a shopping-oriented project into a more residentially focused complex with restaurants, offices, services, and amenities. Bigos Properties acquired the retail component in 2019 and proposed turning much of it into apartments. By 2024, the area remained vacant because construction had been delayed, including by disruptions associated with the COVID-19 pandemic. The former YMCA site had meanwhile been adapted for resident amenities serving the plaza and related properties.

• 2019

  Retail conversion plan announced

  [1]Cray Plazaen.wikipedia.org

  Bigos Properties acquires the retail portion and plans to convert the underused space into residential apartments.

• 2009

  Name changes from Galtier Plaza to Cray Plaza

  [1]Cray Plazaen.wikipedia.org

  The property adopts the Cray Plaza name after naming rights are purchased in connection with Cray Inc.'s role as an anchor tenant.

• 2006

  Commercial and parking facilities sold

  [1]Cray Plazaen.wikipedia.org

  A California-based investment group purchases the commercial and parking portions.

• 2003

  Residential towers sold to Bigos Investments

  [1]Cray Plazaen.wikipedia.org

  Bigos Investments acquires the residential towers.

• 1999

  Wasmer, Schroeder group acquires Galtier Plaza

  [1]Cray Plazaen.wikipedia.org

  An investor group managed by Wasmer, Schroeder & Company acquires the property and later begins extensive remodeling.

• 1996

  Mortgage foreclosure changes control

  [1]Cray Plazaen.wikipedia.org

  The mortgage holder obtains title and changes the management arrangement before a later sale.

• 1989

  Commercial and parking components sold

  [1]Cray Plazaen.wikipedia.org

  The retail, office, condominium, and parking portions are sold to a Canadian investor after the project's early financial difficulties.

• 1986

  Galtier Plaza opens

  [1]Cray Plazaen.wikipedia.org

  The mixed-use development opens in Saint Paul's Lowertown district with residential, retail, office, restaurant, community, and parking components.

A landmark urban mixed-use development combining residential living, commercial space, offices, parking, and resident amenities in Saint Paul's Lowertown district.

• Residential real estate · 1986

  Residential apartments

  The complex originally included 365 rental apartments distributed within its residential towers. Over time, residential occupancy became the strongest-performing part of the property, and later plans focused on converting vacant commercial areas into additional apartments.

• Residential real estate · 1986

  Luxury condominiums

  Galtier Plaza was developed with 121 luxury condominium units. The condominium component formed part of the project's original strategy to attract higher-end residential demand to the Lowertown district.

• Residential real estate · 1986

  Townhomes

  Sixteen townhomes were included in the original mixed-use program, complementing the apartment and condominium towers and broadening the range of residential formats available within the development.

• Commercial real estate · 1986

  Retail and restaurant space

  The project opened with approximately 192,000 square feet of retail and restaurant space. Its commercial identity shifted over time from a regional shopping and entertainment destination toward neighborhood services, dining, and other uses.

• Commercial real estate · 1986

  Office space

  Approximately 100,000 square feet of office space formed part of the original development. Later remodeling converted some formerly vacant retail areas into offices, reflecting efforts to improve occupancy and diversify the complex's commercial base.

• Parking infrastructure · 1986

  Underground parking garage

  A five-level underground garage with capacity for 829 vehicles supports the residential and commercial functions of the complex and was included among the components sold during the property's successive ownership changes.

• 2019

  Convert underused retail space into housingStrategy

  Background

  The retail portion had experienced long-term underuse, while the residential side of the complex was comparatively more occupied.

  Action taken

  After acquiring the retail portion, Bigos Properties planned to convert the space into residential apartments.

  Aftermath

  As of 2024, the space remained empty because construction had been delayed, including by effects associated with the COVID-19 pandemic.

  Source

• 2009

  Adopt the Cray Plaza naming-rights identityStrategy

  Background

  The property had historically operated as Galtier Plaza and was seeking to emphasize a new anchor tenancy associated with Cray Inc.

  Action taken

  Naming rights were purchased and the complex was renamed Cray Plaza.

  Aftermath

  The new identity associated the development with its technology-company tenant while the underlying property continued to operate as a mixed-use real-estate complex.

  Source

1. 1Cray Plazaen.wikipedia.org