Portfolio / Office-to-residential
Stella
Former Ecolab University tower
St. Paul, MN
Stella is the conversion of the former Ecolab University office tower at 386 Wabasha Street North into 176 Class-A apartments in the heart of downtown St. Paul. The $70 million redevelopment took three years and opened in September 2026, one of the most closely watched office-to-residential conversions in the Twin Cities.
Residents have a fitness center, a rooftop deck with grilling stations, a spa room with an outdoor jacuzzi, clubhouse and lounge spaces, and direct access to the St. Paul skyway system, with light rail and Union Depot close by.
Stella in the press
All coverage-
Pioneer Press
Stella Apartments Open on Wabasha in Downtown St. Paul
The Stella welcomes its first residents to the former Ecolab tower on Wabasha Street.
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FOX 9
Latest Office-to-Residential Redevelopment Opens in Downtown St. Paul
Carl Kaeding on the three-year, $70 million conversion of the former Ecolab tower into 176 apartments.
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KARE 11
New Developments in Saint Paul Mark the Start of Downtown's Transformation
Stella's opening as part of a new chapter for downtown St. Paul.
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Star Tribune
Minneapolis, St. Paul Seeing Early Success With Downtown Office Spaces Converted to Housing
Office-to-housing conversions, including Stella, gaining traction in both downtowns.
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REjournals
Inland completes equity raise for QOZ project in downtown St. Paul
Inland closes Opportunity Zone equity for The Stella, with Kaeding as its development partner.
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Minneapolis / St. Paul Business Journal
Converting a Downtown Office Tower Into Homes
The financing and construction behind turning a vacant office shell into Stella.
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Sunrise Banks
Inside The Stella: the Challenges of Turning an Office Tower into Homes
The construction lender's look at the tower's history and the work of building new homes inside it.
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Multifamily Dive
Former Ecolab tower in St. Paul undergoes $68M conversion
How a market-rate office-to-apartment conversion works under St. Paul housing rules.
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REBusinessOnline
PACE Loan Group Provides $15.8M C-PACE Loan for Office-to-Multifamily Conversion Project in St. Paul
Energy-efficiency financing for the conversion, with a floor-by-floor look at the planned building.
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Urban Land
Tackling Office-to-Residential Conversion in St. Paul
The Ecolab building's purchase and plan for Class A apartments, in the context of St. Paul's conversion push.
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KSTP
Developer converting abandoned St. Paul high-rise into downtown housing
Kaeding is named developer of the long-stalled tower, restarting its conversion to housing.