KSTP News Feature

Construction is currently underway at The Boulevard, a 75-acre mixed-use redevelopment at the former Prudential campus in Plymouth that is projected to significantly boost the site's assessed value from a low of $21 million in 2024 to $150 million or more upon completion. By replacing a single corporate entity with a mix of residential, retail, office, and park spaces, Plymouth is diversifying its commercial tax base during a period of metro-wide commercial property value declines. While Mayor Jeffry Wosje notes that the project alone won't reduce homeowners' property taxes—partially because city taxes account for only about 25% of a resident's total tax bill—the surging value of the site over the next three to four years will help cushion local residents by slowing the rate at which their property taxes increase.