New tenant announced in DMC’s Discovery Square at DMCC board meeting

One Discovery Square

The Destination Medical Center Corporation (DMCC) Board of Directors recognized significant progress with several DMC projects at its September 25 meeting. Among them – One Discovery Square – a Mortenson development consisting of 90,000 square feet of lab and office space that will cater to the life science economy.

Mortenson Director of Real Estate Development Jeremy Jacobs updated the Board on progress, and when asked about any new leases, he noted that Epic has signed on as a new tenant, joining previously announced anchor tenants Mayo Clinic and the University of Minnesota Rochester. Additional companies (large and small) will be announced within 60 – 90 days. One Discovery Square is expected to open in April 2019.

One Discovery Square is part of a live, work, and play environment in the Discovery Square subdistrict that encompasses 16 blocks in downtown Rochester. Discovery Square is envisioned to be the economic engine of the DMC initiative, with up to two million new square feet of space where businesses of all sizes will develop products for the market.

The DMCC Board approved the DMC Economic Development Agency 2019 budget and work plan, addressing the importance of developing an affordable housing strategy that will complement existing efforts by municipalities and the Rochester Housing Coalition.

The Board also noted that now is the time to accelerate the DMC transportation plan and think big with public spaces.

“The DMCC Board is increasingly focused on issues like affordable housing, workforce development, public spaces, and transportation initiatives that will enable private investment in Rochester,” said R.T. Rybak, DMCC Board Chair.

Leave a Reply

Your email address will not be published. Required fields are marked *