Minneapolis St. Paul Business Journal: Rochester’s ready to roll


Two years after the Minnesota Legislature approved Rochester’s $5 billion, 20-year Destination Medical Center initiative, the Mayo Clinic’s hometown is still awaiting the first project to be developed.

But it won’t wait much longer.

Developer Gus Chafoulias plans to break ground in the next few months on a $155 million, full-service Hilton hotel with 264 rooms, 22,700 square feet of retail space and 33 luxury apartments.

The 22-story hotel, called Broadway at Center, is one block from Mayo Clinic and overlooks the Zumbro River. It can’t come soon enough for the DMC, which has pumped up excitement and land prices in Rochester, but so far hasn’t spurred a run on construction.

“I think the whole community is feeling urgent,” said Lisa Clarke, DMC executive director. “People are looking for wins very quickly, whether it’s building something or starting the transit study. We all are very anxious to get moving on some of these efforts.”

View full original article >