Located at 857 Grand Avenue, the Grand & Victoria project is poised to redefine the intersection of Grand Avenue and Victoria Street with a six-story, mixed-use development. Spearheaded by Afton Park Development, this $40 million initiative will introduce 87 market-rate apartments atop 12,000 square feet of street-level retail, blending contemporary living with the historic charm of St. Paul.
Address: 857 Grand Avenue, St. Paul, MN
Developer: Afton Park Development
Residential Units: 87 market-rate apartments
Retail Space: 12,000 square feet
Project Cost: $40 million
Status: Predevelopment (Rezoning approved March 12, 2025)
Estimated Groundbreaking: Early 2026
Estimated Delivery: Late 2027
The Grand & Victoria development aims to meet the growing demand for high-quality housing in the Grand Avenue corridor. With unit sizes ranging from 550 to 2,300 square feet, the apartments are designed to appeal to both downsizing locals and young professionals seeking modern amenities in a walkable neighborhood.
Afton Park Development is actively curating a retail lineup to enhance the Grand Avenue experience. Negotiations are underway with a flagship retail tenant, and the remaining spaces are expected to attract top-tier food and beverage concepts, reinforcing Grand Avenue's status as a regional destination.
Despite national slowdowns in the multifamily sector, the Twin Cities market remains robust. In the third quarter of 2024, the region experienced an absorption of over 3,100 units, nearly triple the 2015-2019 average, marking the second consecutive quarter of top-five multifamily demand since CoStar began tracking the data in 2000 . This resilience, coupled with limited new supply in core neighborhoods and favorable public incentives, positions the Grand & Victoria project for long-term value.
Founded in 2021 by Ari Parritz, Afton Park Development focuses on sourcing, designing, entitling, financing, and managing new projects. Parritz, a Twin Cities native, has developed nearly 1,000 units of multifamily housing over his seven-year development career, including mixed-use projects and for-sale condominiums.
The Grand & Victoria project represents a significant investment in the revitalization of St. Paul's Grand Avenue corridor. By integrating modern residential units with curated retail spaces, Afton Park Development aims to create a vibrant, walkable community that honors the area's rich history while meeting contemporary needs.
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