Bill McGuire Buys Property at Site of Allianz Field Project

Allianz Field

The implementation of the Allianz Field project has taken a step forward, as Minnesota United FC owner Bill McGuire is purchasing a key property.

Allianz Field is expected to be constructed as part of a larger development in St. Paul’s Midway neighborhood, and the Midway Shopping Center currently occupies much of the site that will be used for the project. Demolishing the shopping center is a must for the development to take shape, and McGuire has taken the initiative to move that process forward by becoming its master tenant.

McGuire has bought out the mortgage on Rainbow Foods, resolving an issue that had been up for discussion during the planning process of the project. More from The Pioneer Press:

St. Paul Port Authority President Lee Krueger said McGuire’s decision to buy out the mortgage for the Rainbow Foods store will allow the team to finally demolish the supermarket and make room for the stadium’s northern edges.

Under an agreement with St. Paul, McGuire had until this Sunday to line up control of the shopping center and ensure that the stadium project moves forward.

The decision also ends the Port Authority’s involvement, and possibly that of Irgens, a Milwaukee-based developer that had been lined up this summer to gain control of the shopping center but had yet to sign the necessary development agreement with the authority.

“We haven’t been involved in discussions these last 10 days or so,” Krueger said.

Construction of Allianz Field will be privately financed at a cost $200 million. The facility is expected to open in 2019.

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