St. Paul's Alliance Bank Center gives tenants 48 hours to vacate, frustrating and shocking business owners
A wave of shock is sweeping through for tenants inside St. Paul's Alliance Bank Center.
In an email sent to all tenants, Alliance Center, LLC said it cannot sustain the costs to operate the building any longer, given the unsustainable financial situation that exists at the building.
Its lender, Royal Credit Union, did not show any interest in providing additional funding for the building.
The email did not state when utilities would be shut off, but a letter from St. Paul Fire Department shared with WCCO stated power would be shut off on Wednesday, and if that happened, "The building's management company Madison Equities plan to walk away."
After 36 years of selling jewelry in the building, Paul Hartquist had 48 hours to pack up and leave.
"It's poor on their part not to give us advance notice; 48 hours is not acceptable," Hartquist said.
For tenants like Mario Gonzalez-Mitchell, the closure is more than an inconvenience, but a major blow to his livelihood.
He founded "Why I Am" in honor of his father, Jim, with a mission to break the cycle of hopelessness and youth incarceration. Gonzalez-Mitchell was looking forward to the official grand opening of the space but is now preparing to pivot.
"One thing I learned from my father is to roll with the punches, get back up when you fall," he said.
But business owners got some last-minute help from St. Paul Mayor Melvin Carter.
Carter negotiated with both utility partners at Xcel Energy and District Energy to postpone any action related to electricity and heating until the end of the month. With the extra time negotiated, the city will work directly with tenants to support and expedite their transition into new spaces downtown.
"Like all of you, we've tried for months to contact and work with Madison Equities and have been unsuccessful," Carter said in a letter to all tenants. "We appreciate your patience. The City of St. Paul intends to support every impacted tenant during this process."
While the future of the building remains unclear, tenants are working to secure new spaces and are grateful for the extra time to do so.
