With a number of new housing and retail developments and a burgeoning entrepreneurial spirit, Rochester is booming. And Destination Medical Center (DMC) is in the middle of it all.
2016 brought new developments in each of the DMC sub-districts, including housing, hotels, retail, restaurants and other businesses, that will inspire dynamic places to live, work, and play, filled with culture and recreation. 2017 is certain to bring more of the same.
The Alatus Development project will add over 347 residential units, restaurant, commercial, and retail space. Project highlights growing momentum of Destination Medical Center initiative, with over $200 million in development since 2013.
ROCHESTER, Minn. (Dec. 15, 2016) – The Destination Medical Center Corporation (DMCC) Board of Directors today approved the $115 million Alatus LLC 2nd Street Development Project for the DMC St. Marys Place sub-district subject to a final review of the project’s financing. The 13-story mixed-use development is expected to include over 347 residential units, 13,500 square feet of ground floor retail space, and 7,500 square feet of second-floor office and retail space.
In every success story, you will find someone who has made a courageous decision. – Peter F. Drucker
DMC’s mission to attract people, investment opportunities, and jobs to Rochester is reflected in the entrepreneurial spirit of our community. Several of those entrepreneurs were honored at the third annual RAVE (Recognizing, Awarding, and Valuing Entrepreneurs) celebration in November.
Hosted by the Rochester Area Economic Development, Inc., known locally as RAEDI, the event welcomed 200 guests and over 75 entrepreneurs.
Recent research is confirming what we already know: both our city and our state are great places to live and work. And DMC is striving to make them even better.
The #1 Best Place for Working Women
SmartAsset, a personal finance technology company headquartered in New York City, recently published a list citing Rochester as the #1 “best place for working women.” After deducting costs for housing, women in Rochester are left with higher median incomes than in any other metro area.
Though Minnesota’s most apparent economic generators were historically rooted in farming, logging, and manufacturing industries, the state also has a very strong – but less recognized – history in technology.
Following World War II, Minnesota attracted more computer engineers than any other state in the Midwest. Organizations like Cray, Medtronic, Honeywell, and IBM became national players and put Minnesota on the map as a center of innovation. But the story of our rich history of technology has more or less been left untold. That is, until now.
Enter DocuMNtary, a project intended to build awareness of technology in Minnesota by telling our story through a documentary series. The series consists of a 30-minute high-level story about technology and shorter subsequent segments that highlight specific individuals, organizations, and initiatives.
Since Rochester City Lines stopped their commuter route from Le Roy and Grand Meadow to Rochester in 2014, the demand has not stopped. Le Roy has tried a couple options, but it thinks their new bus service is the key to meeting that demand.
“It was a nice grassroots effort – It just proves you only need a handful of people,” said Axel Gumbel who is part of Le Roy’s Economic Development Authority.
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The high school kids in Aaron Davis’ construction tech class are busy helping build a two-bedroom, two-bathroom house that’s likely to be snapped up quickly in the Rochester area’s fast moving real estate market.
The same can also be said for Davis’ students. Market forces can’t wait for them to graduate. A recent state survey found nearly 500 construction positions available in southeastern Minnesota with some 8,000 total jobs open in a region with a minuscule 2.4 percent unemployment rate.
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