St. Paul landmark Gets a New Owner

Updated: 11/16/2012 6:25 PM KSTP.com By: Kaitlin Stevens

There's a celebration going on in St. Paul after the sale of a landmark. The Schmidt Brewery site on West 7th has a new owner.

Final pieces came together Friday to turn most of the old brewery over to Dominion Development. This afternoon they got the "keys" to the complex.

The company has a $123 million plan to turn two of the four buildings on site into loft-style affordable housing for artists.

The city of St. Paul has been trying to figure out what to do with the landmark building for nearly 10 years.

The project will add 500 housing units and is expected to bring new business to the area.

Current owners will keep a small warehouse where they can contract with beer makers who want to brew. There will also be a micro-brewery opening up in the complex.

Construction begins Monday and the goal is to have tenants moving in by late 2013.