DMC could be taking physical shape in less than a year.
The law firm of Larkin Hoffman, which opened an office in Rochester about a year ago, hosts a Real Estate Forum each year. With the DMC initiative touted as the primary development project in the state, the Minneapolis-based group decided to hold this year’s event in Rochester and make DMC the focus of their 2016 real estate discussion.
Mayo Clinic is pleased with the progress it has made thus far under DMC.
In an interview with the trade magazine PRWeek, Mayo CEO John Noseworthy said the Rochester-based nonprofit is “on schedule to meet development targets” for DMC. He referenced the recent selection of M.A. Mortenson Company to develop the Discovery Square sub-district as a step in the right direction.
“I have no doubt it will be successful,” he said. “The interest in the business community is massive. The public has a right to weigh in and we expect that.”
M.A. Mortenson Co. has been chosen as the developer for the research campus of Mayo Clinic’s Destination Medical Center (DMC) in downtown Rochester.
The six-block subdistrict which will be called Discovery Square is supposed to “serve as a point where physicians and scientists will come together with businesses and entrepreneurs to accelerate advancements in medical research and technology for critical advances in patient care,” according to an announcement.
The DMC vision moved another step closer to becoming a reality today when Mayo Clinic announced today that it will collaborate with M.A. Mortenson, a Minneapolis-based real estate development and construction firm, on the DMC sub-district Discovery Square.
Over the next 20 years, Mayo Clinic will add 2 million square feet of space in Discovery Square for research, education, and product development.
“With [Mortenson’s] experience, they will be a fantastic partner with Mayo to spearhead the development of the six-block Discovery Square, the bioscience research, education and medical innovation campus that is the core of the DMC,” says Lt. Governor Tina Smith, DMC Corporation Board Chair. “Discovery Square, which will include Mayo and other private businesses, is a key milestone for DMC.”