Q: What is the timeline for the Sears Redevelopment
A: q4 2023 get the sears site plan approved by the CAAPB. Start reconstruction on Sears Building and Sears auto, complete the reconstruction with in 2 years.
Q: How did AMA afford to buy the property for 8 Million?
A: AMA has had an endowment fund since 1992 and other private donations. All transaction is legal and has been audited.
Q: How can I be an investor?
A: Fill out the contact form on our website https://searsstpaul.info/connect-with-us/ and we will add you to the list. When it is time to present buying opportunities, we will reach out to the public.
Q: How can I be part of the Sears Redevelopment Project
A: Fill out the contact form on our website https://searsstpaul.info/connect-with-us/ so we can add you to our list and follow up with you for potential collaboration and partnership opportunities
Q: What are the plans for the 17-acre site?
A: We are in the early planning stages of developing the site plans and are working closely with the CAAPB to make sure our work is aligned with their regulations.
Q: What are the plans for the old Sears building?
A: Information on the ideas and plans is on our website https://searsstpaul.info/
Q: Open Block Developments for the Public?
A: We are also open to sell the smaller lots as well, but that will happen much later after Shared Ownership model is completed.
AMA and AABRN will focus on existing SEARS building development only, and we plan to divide the lot into 6-8 smaller lots for housing/retail/office spaces, and do plan for each lot with a specific purpose at the current Master Planning stage (that is why community inputs now is so important), after the full site plan approved by the CAAPB and the City, and then we will identify a partner lead to help us for potential Shared Ownership model (co-op Model) for each lot, and we will ask the partner to divide the investment into smaller amounts, so community members can purchase the investment and own the % of shares, to build wealth, and help on deciding the design, and will set a framework to encourage sustainable development. For example, AMA can own the lot, and rent out the lot to the group, so no need to have heavy front-end investment to buy the lot, but still can be involved in the investment and development.
Q: profit coming from the SEARS site?
A: As a non-profit agency, all profits will be prohibited to distributed to any individuals, so all profits will go into an endowment fund, and it will support the ongoing maintenance and operation of 2 existing Buildings to be a true community center, and be able to have funds to operate the programs in the 2 buildings as well.
