(Rochester, Minnesota) Sept. 25, 2018 – The Destination Medical Center Corporation (DMCC) Board of Directors today recognized significant progress with several DMC projects. 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.
The next meeting of the DMCC Board is Tuesday, November 13, 2018 at 9:30 a.m. at the Mayo Civic Center.
Destination Medical Center (DMC) is the largest public-private economic initiative in Minnesota’s history. The 20-year plan to transform Rochester into a global destination for health and wellness will attract developers, investors, startups, and entrepreneurs to live, work, and play in America’s City for Health. For more information, visit dmc.mn.