Healthcare innovation building, One Discovery Square, now fully leased
(Rochester, Minn.) May 20, 2021 – The Destination Medical Center Corporation (DMCC) Board of Directors today commended the continued momentum in DMC’s Discovery Square sub-district. One Discovery Square, Mortenson’s first life sciences building in the sub-district which opened in 2019, is now 100 percent leased. Thermo Fisher Scientific, Cytotheryx and Exact Sciences are the latest companies to commit to space alongside other tenants, including Mayo Clinic, University of Minnesota Rochester, Epic, Philips, Boston Scientific, RION, WuXi Diagnostics and Café Steam.
Two Discovery Square, Mortenson’s second building in Discovery Square, will build off the success of One Discovery Square. Construction began in 2020 and the project is scheduled to open in mid-2022. The area has also attracted new housing, childcare and businesses.
“I love us thinking about the Discovery Square ecosystem and creating an economic base for Rochester. It’s really exciting work,” said R.T. Rybak, DMCC Board Chair.
The board also praised planning documents for the South-of-Downtown Waterfront Small Area Plan. DMC Economic Development Agency (DMC EDA) and City of Rochester are working with other stakeholders to develop a collaborative, community-driven vision for the area as a mixed-use historic warehouse district. The plan embraces economic, social, and environmental health in an urban environment that includes thriving local businesses, a variety of housing options, riverfront activation and inviting public spaces.
“This is the most exciting project I have seen since day one with DMC,” said Jim Campbell, DMCC Board Member.
DMC EDA staff also presented a new downtown retail recruitment strategy to maintain a resilient and vibrant downtown for residents, workers and visitors. The plan focuses on recruiting and retaining businesses with a mix of retail, dining and entertainment.
Board members also kicked off a discussion on DMC investment priorities in preparation for the 2022 DMC funding request. Strategic direction from the board as well as DMC goals, guiding principles and priorities will help shape the annual request before it is presented to the DMC EDA Board of Directors, DMCC Board, and Rochester City Council for approval.
The DMCC Board will consider the 2022 funding request at its next meeting on September 30, 2021 at 9:30 a.m.