Bill McGuire Is Building Apartments at the Old Midway CVS Site in St. Paul
A Long-Vacant Corner Finally Has a Plan
The former CVS Pharmacy site at Snelling and University in St. Paul’s Midway neighborhood has sat vacant for years. After the building was demolished last month, a clear redevelopment plan is now in place.
Bill McGuire has signed a purchase agreement through 499 Snelling Realty Company and plans to build a mixed-use development featuring market-rate apartments above street-level retail. The project is expected to break ground by 2027 at the latest.
What’s Planned for the Ground Floor
McGuire says he’s received a range of ideas for potential retail tenants, including:
- A hardware store
- A pharmacy
- Restaurant concepts
The goal is to bring in businesses that serve the surrounding Midway community without directly competing with existing local operators.
Design-wise, the project is expected to stand apart from standard multifamily developments. McGuire has emphasized creating something that reflects the energy and visibility of the Snelling Avenue corridor, rather than a typical apartment build.
A Fully Private Investment
One of the most notable aspects of this project is how it’s being funded.
Unlike many developments of this scale, this project will not rely on tax increment financing or state subsidies. While the St. Paul Port Authority will assist with utility relocation, the development itself is being financed entirely through private investment.
That’s a strong signal that investors see real demand for market-rate housing in the Midway area.
A Larger Vision Around Allianz Field
This project doesn’t stand alone. McGuire is already leading multiple developments tied to Allianz Field and the surrounding United Village district directly across the street.
Current projects include:
- A hotel (targeted for completion in 2027)
- An office building
- Two restaurant pavilions
Together, these projects are reshaping one of St. Paul’s most visible corridors.
What This Means for the Midway Market
For buyers, sellers, and investors watching St. Paul, this type of development matters.
Mixed-use projects at high-traffic intersections — especially near transit and major venues — tend to drive:
- Increased foot traffic
- Stronger retail demand
- Long-term property value stability
With proximity to light rail, Allianz Field, and a growing pipeline of private investment, the Midway neighborhood is positioning itself as one of the more active growth corridors in the Twin Cities.
Thinking about buying or selling in the Twin Cities? Let’s talk.
Text Darin Bjerknes at 612-702-5126 or DM on Instagram @darintheminnesotan.
