Tag: Development

DMC Storyteller Video Series: In the Middle of Growth with Nick Pompeian

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Rochester is primed for dramatic growth and development. We are building office space, contemporary living environments, education centers, and retail space to attract start-ups, small businesses, expansions, and the great minds to go with it all.

Nick Pompeian
Nick Pompeian

To help illustrate the many ways individuals are transforming Rochester, DMC has created a video series called “DMC Rochester, MN Storyteller Videos.” These snapshots of forward-thinking people and approaches showcase the opportunities that exist in Rochester as DMC sets in motion a new future for America’s City for Health.

Sharing the DMC story throughout the state

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DMC is changing the face of Rochester, and the state of Minnesota is taking notice.

The past few months have brought a new visibility to America’s City for Health as statewide publications have begun to share the story of Destination Medical Center.

Photo credit: Glen Stubbe, Star Tribune

In May, journalist Matt McKinney and photographer Glen Stubbe from the Star Tribune joined DMC Economic Development Agency executive director Lisa Clarke on the 189-foot Kraus-Anderson construction crane at the site of the future Titan Hilton Hotel to get a birds-eye view of the development taking place across the city of Rochester and discuss what’s to come for the burgeoning city.

Making Progress: Construction continues on downtown Hilton hotel

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DMC leaders recently accompanied developers at Rochester’s Titan Development & Investments and Harbor Bay Real Estate Advisors on a hardhat tour to take in the progress on the 19-story Hilton Hotel being built at the intersection of Broadway and Center Street in downtown Rochester.

The project is a public-private partnership and one of the first to receive DMC funding. Currently, there are up to 80 employees on-site daily and is expected to reach more than 250 per day as progress continues.

“It was great to see firsthand how far along the project has evolved,” says Lisa Clarke, DMC Economic Development Agency’s executive director, who took part in the tour. “Projects like this are important as DMC evolves.”

40 Below: Building the workforce of the future

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When you utter the words “40 below” in Minnesota, minds tend to stray toward cold winter nights and non-functional cars. But, as development and progress in and around the DMC District increase, Rochester’s newest young professionals group is changing that perception.

Building the next generation of leaders

While workforce needs for the community are growing across all industries, development related to DMC is driving an even greater demand for talent in the building industry.

Enter 40 Below, an initiative of the Rochester Area Builders (RAB) committed to developing strong, lasting relationships for up-and-comers in the regional building community.

Discovery Square: Science on Display

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The DMC vision is progressing as each of the sub-district’s distinctive personalities is beginning to evolve. Heart of the City, for example, serves as the place where health care intersects with hospitality and retail, the Downtown Waterfront looks to transform the perception of Rochester from a medical campus into a vibrant destination, and St. Marys Place becomes a monumental gateway at one of the primary entry points into Rochester.

Rendering Credit: Mortenson

Lately, though, it’s Discovery Square that’s making the news.

Expanding Twin Cities business finds success in Rochester

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For years, Rochester has been ranked as a best place to live, a most affordable city, and a top community for entrepreneurs. And while the words “Mayo Clinic” and “health care” may be the first things that come to mind when people think of Rochester, owners and investors in a variety of industries are seeing Rochester as a viable place to do business.

LKPB Engineers is a Twin Cities-based firm that provides mechanical and electrical engineering services for corporate, municipal, healthcare, educational, and other facilities. The company has been in business for nearly 50 years and, until recently, they were primarily a single location office in the Twin Cities metro.

Developer and investor interest in Rochester grows

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First Avenue Flats Ribbon-Cutting

From groundbreakings to grand openings, Rochester is flourishing as developers and investors from around the world take notice of the opportunity that exists in America’s City for Health.

In the last two weeks alone, First Avenue Flats opened to 75% occupancy; the first building in Discovery Square was introduced; public funding raising efforts have begun for the Ronald McDonald House expansion; and the Mayo Civic Center celebrated its grand opening. Diverse construction projects like these offer the infrastructure needed to support Rochester’s projected growth.

Press Release: First Building Announced in Discovery Square

Press Releases
ROCHESTER, Minn. (Apr. 27, 2017) – Representatives from Mortenson announced today to members of the Destination Medical Center Corporation (DMCC) Board of Directors the specific location where construction will take place on its hallmark Discovery Square project.The planned 60,000+ square foot, state-of-the-art research and development complex, currently being designed by RSP Architects and HOK, will be built at the corner of 4th Street SW and 2nd Avenue SW, according to Mortenson representative Jeremy Jacobs.

An integral part of the DMC vision, the 16-block sub-district in downtown Rochester known as Discovery Square will become one of the leading life science research campuses in the United States. The densely organized, mixed-use neighborhood will consist of life science businesses, new start-ups, and residential options anchored by a signature space.

Discovery Square will be a bridge to the mission of Mayo Clinic, serving as an extension of the Mayo Clinic’s team-based model of care and providing a new address for the future of life science, research, education, technology, and innovation. Over the next 20 years, Discovery Square is expected to expand Mayo’s research and product development space by more than two million square feet.

In 2016, Mayo Clinic selected Mortenson Company as its development partner for the first phase of its Discovery Square initiative. In January, Mortenson selected RSP Architects and HOK to design the facility. Mortenson expects to begin construction later this year and complete the project by 2019.

“The DMC vision for Discovery Square is coming to life,” said Lisa Clarke, executive director of the Destination Medical Center. “The vibrant life sciences hub will bring forward-thinking business professionals, students, educators, and innovators from around the world together in Rochester to accelerate research, improve delivery, and advance patient care.”

The next scheduled meeting of the DMCC Board of Directors will take place on July 27, 2017.

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DMC presents Real Estate Development & Investment Summit

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As developments progress in the DMC District and throughout the city, the confidence of investors and developers in the future of Rochester is becoming more and more apparent. Over the next 20 years, DMC will continue to drive the city’s growth and position Rochester as the ideal place to grow a business, invest in a development project, or raise a family.

At the Rochester Real Estate Development and Investment Summit – to be held on May 4, 2017 – attendees will learn how DMC is shaping the market forces in the city, region, and state and the impact the initiative is making on real estate and investment.

Press Release: Major Milestone: DMC exceeds $200 million private investment threshold for unlocking state dollars

Press Releases

ROCHESTER, Minn. (March 23, 2017) – The Destination Medical Center Corporation (DMCC) Executive Committee announced today that the DMC economic development initiative exceeded the $200 million private development investment threshold –needed to trigger the release of state DMC dollars to be used for public infrastructure improvements – by $97.7 million, totaling $297.7 million in private investment.

“Reaching this important milestone reaffirms that we are on the right track, and Rochester is already experiencing growth and new opportunities,” said Lt. Gov. Tina Smith, DMCC Board Chair. “With the $200 million threshold met, I look forward to working with the State of Minnesota, Rochester community and Mayo Clinic to invest in transportation, world-class amenities, and other public infrastructure that supports opportunity for everyone.”