Approves Next Phase of Life Science and Technology Campus
The Destination Medical Center Corporation (DMCC) Board today approved $7.3 million in public infrastructure funding for Mortenson Development Inc’s construction of Discovery Square Two in the DMC Discovery Square subdistrict.
The $45 million project will be a five-story,124,000 square foot, LEED-certified medical office and lab building with outdoor space, connectivity to One Discovery Square, tenant and public programming and potential 5G connectivity. The building will support approximately 500 long-term jobs while its construction will create approximately 800 short-term jobs.
“This is a tremendous vote of confidence that the private sector is investing in Rochester, Minnesota and a sign that Destination Medical Center is diversifying the economy,” said DMCC Board Chair R.T. Rybak.
The first research building within the Discovery Square subdistrict, One Discovery Square, another Mortenson project, opened in 2019 and quickly filled with tenants including Mayo Clinic, University of Minnesota Rochester, Epic, Philips, Boston Scientific, WuXi Diagnostics and Café Steam.
Continued tenant interest in the campus shows there is a demand for the second phase.
“The additional lab, office, amenity, collaborative, and entrepreneurial space in Discovery Square Two will further fulfill DMC’s mission to attract companies of all sizes and talent to Rochester, Minnesota,” said Lisa Clarke, executive director, DMC Economic Development Agency.
“We appreciate the important and significant step taken by the Destination Medical Center Corporation Board in support of Discovery Square Two,” said Brent Webb, Development Manager at Mortenson Development, Inc. “Mortenson looks forward to continuing our collaborative partnership with DMC, City of Rochester and Mayo Clinic in the advancement of the DMC Development Plan and vision of Discovery Square.”
Discovery Square is a 16-block subdistrict and is a key component of the Destination Medical Center initiative. In addition to One Discovery Square, the subdistrict has attracted new housing, childcare and businesses with more development underway.
The public infrastructure funding for Discovery Square Two must also be approved by the Rochester City Council.