Moves forward with transportation planning
The Destination Medical Center Corporation (DMCC) Board of Directors at its May 28, 2020 meeting approved $250,000 in financial resources in response to the COVID-19 pandemic to support businesses reopening and recovery and new innovations that will enhance and grow Rochester’s economy and help small businesses. DMC will prioritize immediate investments that could be in support of long-term public infrastructure in the Destination Medical Center (DMC) district.
“I see us having an opportunity instead of sitting on the sidelines as small businesses struggle to step in to give some specific help,” said DMCC Board Chair R.T. Rybak. “Rochester is a special community that deserves special tools because of the special opportunity that is going on in the city.”
Related to transportation, the DMCC Board approved a phased approach for the rapid transit system, with phase one consisting of the Second Street corridor, connecting Cascade Lake (West) to the Government Center (East) in downtown Rochester. This will achieve many of the goals for the transit system, such as providing a much better ridership experience, reducing pressure on downtown parking, providing better transit access to residents of nearby neighborhoods, and reducing single occupancy vehicles on Second Street. The City of Rochester and DMC leaders will work together to advance an application to the Federal Transit Administration (FTA) to gain federal funding. The goal is to submit the project for the FTA Small Starts funding program by a September 4, 2020 deadline.
Within the Discovery Square subdistrict, One Discovery Square is approximately 90% leased, with Mortenson continuing to advance phase two. Design work continues on the Discovery Walk linear parkway project, with year-end construction bidding planned and a targeted groundbreaking in 2021.
DMCC Board members previewed a new proposed partnership with the Medical Alley Association. The DMC Economic Development Agency team has been working with Medical Alley and others to develop a startup initiative program in Rochester. The primary objective is to grow an entrepreneurial ecosystem anchored in the Discovery Square subdistrict that lowers the cost to start and scale new ventures that bring new products and services into the marketplace.
“The Medical Alley Association and its Board of Directors are excited to be supporting this collaboration with Destination Medical Center,” said Shaye Mandle, President and CEO of the Medical Alley Association. “Medical Alley leaders understand it is absolutely critical to facilitate a vibrant startup ecosystem, and this new connectivity center in Discovery Square will help to accomplish just that. We look forward to continuing to help this innovative partnership thrive.”
The next regularly scheduled DMCC Board meeting is August 27, 2020 at 9:30 a.m.