HIT Investments


The Penfield

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The HIT is providing $41 million in financing for construction of The Penfield, a $62 million mixed-use development in downtown St. Paul. The six-story building will have 254 rental units, a Lunds grocery store on the first floor, and three levels of parking.

The City of St. Paul is sponsoring The Penfield as a key part of its downtown redevelopment program, bringing quality market rate housing and a full-service grocery store to the area while serving as a catalyst for future development. The Penfield will span an entire city block and is located near a new Central Corridor light rail line and a planned central park area. The project is seeking LEED Silver certification.

Construction work will create more than 300 jobs for members of the St. Paul building and construction trades unions. In addition, workers at the new Lunds grocery store will be represented by the United Food and Commercial Workers, Local 1189.


St. Paul, MN

HIT Investment:

$41 Million

Total Development Cost:

$62 Million



Union Jobs Created:

Approximately 315

Photo Gallery

Penfield Groundbreaking