United Building Products owns property on both sides of the former recycling center, a four-acre property located at Rice and Sycamore streets. The firm sells roofing and siding material retail on site and is also one of the larger wholesale distributors of roofing and siding in the Twin Cities.
Most of the funds from property sales like this one will be used to fund the Housing Endowment Fund, enacted by the Ramsey county board of commissioners last fall.
After 11 potential buyers investigated the property, five entered bids in the auction. The money will go to the new Housing Endowment Fund, which will help finance affordable housing projects.
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