The total project cost for the St. Louis Park Project is $25,008,000. TED funds from MnDOT and DEED contributed $3,000,000 while the City of St. Louis Park and other public sources are paying for the rest.
This project will provide a grade separated interchange (tight diamond with roundabouts) at Hwy 7 and Louisiana Avenue. The project will provide a safe, functional, urban interchange that is sensitive to the community needs, will promote job creation/retention, and balance the mobility needs of the regional transportation system.
In recent years as the community has grown, Hwy 7 has experienced safety problems, travel delays, and capacity concerns. To remedy these issues, this project will remove three signal systems along Hwy 7, and two right-in/right-out intersections, and in its place construct a grade separated interchange. This project will also enhance the pedestrian/bicycle facilities along this area to perpetuate movements throughout the area.
Economic Development Impacts
This project will help St. Louis Park take advantage of several economic development growth opportunities to expand existing businesses. Methodist Hospital, Tower Light (Senior Care Center), and an office/restaurant complex are some of the businesses that have expressed an interest in expanding near the project site. St. Louis Park projects that completion of this project in 2014 will support the addition of 450 jobs over the next five years.