Tag: DMC Economic Development Agency

DMC presents Real Estate Development & Investment Summit

April 14, 2017General

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

March 25, 2017Press 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.”

A major milestone: DMC exceeds $200M private investment threshold for unlocking state dollars

March 23, 2017General

The DMC Corporation (DMCC) Executive Committee announced today that the private investment threshold of $200M needed for DMC to receive state dollars for public infrastructure improvements has been met. In fact, private investments in the DMC District from July 2013 through the end of 2016 totaled nearly $298M, exceeding the $200M requirement by nearly $100M.

Lt. Gov. and DMC Corp. Board Chair Tina Smith

“Reaching this important milestone reaffirms that we are on the right track, and Rochester is already experiencing growth and new opportunities,” says Lt. Gov. Tina Smith, DMCC Board Chair, who submitted the 2016 private investment draft report to the Minnesota Department of Employment and Economic Development (DEED) on behalf of the DMCC Board.

Dare to DREAM: Giving life to Heart of the City

March 18, 2017General

From Discover to Dream, the Destination Medical Center’s Heart of the City public space design team is taking their direction from you.

On March 9, the design team invited community members to take part in the second phase of the design process at a Community Workshop at the Rochester Art Center. More than 130 people attended the 2 ½ hour interactive event.

“The turnout was great,” says Adam Ferrari, owner of the Rochester-based architecture and design firm 9.SQUARE and a member of the design team. But what struck Ferrari was the engagement by the group. “With events like this, it usually goes one of two ways,” he says. “People either react negatively – or they roll up their sleeves and get to work.” This group, according to Ferrari, did the latter.

Heart of the City: Discover. Dream. Design. Do!

February 16, 2017General

RSP Architects, the Minneapolis-based firm charged with championing public realm design for DMC’s Heart of the City sub-district, received accolades from the DMC Corporation board of directors on February 8 when they presented findings from the first of four phases of the design process. The RSP-led design team includes Coen+Partners, 9.Square, HR&A Advisors, and Kimley-Horn.

The Discover Report was the result of 17 days of interviews, surveys, and pop-ups conducted by the Heart of the City public space design team and the culmination of their first phase of design work. During this process, the design team met with hundreds of people – visitors, patients, and community members alike – recognizing that they must understand the community well because “solutions for Heart of the City need to be authentic to Rochester.”

Press Release: DMCC board approves $38M residential and retail project

February 15, 2017Press Releases

Board also reviews Mortenson roadmap for Discovery Square Project

ROCHESTER, Minn. (Feb. 8, 2017) – Highlighting the growing momentum of the Destination Medical Center initiative, the DMCC Board of Directors today approved a $38 million mixed-used development project. The development would bring 156 market-rate apartments, retail shopping, public parking and pedestrian access to downtown Rochester.

“The Destination Medical Center and Rochester continue to attract private investment and innovation, as our actions at this Board meeting demonstrate,” said Lt. Gov. Tina Smith, chair of the DMCC Board. “The momentum with Discovery Square, which will be a nation-leading center for life science innovation, is especially encouraging. We need to keep this momentum going and continue working with Rochester, Mayo Clinic, and the private sector to expand jobs and opportunity in America’s City for Health, and all of Minnesota.”

One cup at a time: Local entrepreneurs connect

February 1, 2017General

With entrepreneurship brewing in Rochester these days, there is a growing need for more opportunities for these like-minded individuals to connect and network, share successes and struggles, and simply bond. Perhaps over a cup of joe.

1 Million Cups is a national program that incubated out of the Kauffman Foundation where entrepreneurs can come together over coffee to hear pitches from other startups and learn from one another. The free program exists in more than 100 cities nationwide and, today, Rochester became one of those cities.

Community members weigh in on the future of downtown transportation

January 30, 2017General

A sustainable transportation model is pivotal to the success of the DMC vision. And from practical solutions like dedicated bus lanes to more futuristic ideas like driverless shuttles, the topic brought dozens of community members together for the first of four Public Conversations highlighting transit for Rochester’s downtown.

The informal open house, held on January 24 at the University of Minnesota Rochester, provided the public with a chance to hear from transportation consultants about the four integrated transit studies being conducted and offer their feedback on what they see working best for Rochester’s future.

Engaging the community through prototyping

January 26, 2017General

2016 brought a multitude of new ideas and excitement to downtown Rochester with the temporary installation of 16 prototypes at the first ever PlaceMakers | Rochester Prototyping Festival.

The idea of prototyping is not new, but it is new to Rochester.

Since the September festival, which addressed “Health and the Built Environment,” the community is beginning to see more examples of urban prototyping taking place.

The future of transportation: A public conversation

January 19, 2017General

Efficient downtown transportation is essential to the success of the DMC Development Plan, and local residents are being asked to help drive the future of this important component.

Integrated Transit Studies being conducted

The city of Rochester is conducting four integrated transit studies to support and advance DMC’s plan. On January 24, study consultants will host the first of four public conversations to share their findings and listen to the thoughts of attendees on transportation in downtown.

Richard Freese is the director of the city’s Public Works Department and feels that Rochester is a unique city requiring a unique approach to travel demand management. “Since the invention of the automobile, cities around the world have tried unsuccessfully to build their way out of traffic congestion by building more or wider roads,” Freese says.