The Destination Medical Center Corporation (DMCC) Board of Directors applauded the significant accomplishments in the Destination Medical Center (DMC) district in 2018 at its final board meeting of the year on November 13. These accomplishments include eight approved private projects at various stages of development with several to complete construction and renovations and open in 2019, including the Hilton Hotel, One Discovery Square, Hotel Indigo, and Urban on First.
The DMCC Board reaffirmed its commitment to Heart of the City and support of $1.1 million in renovations to the historic Chateau Theatre, with construction to begin this December. A summer 2019 re-opening of the theatre is projected.
You might have been caught by surprise if you walked by the Peace Plaza on a brisk October evening and saw more than 200 people gathered together sharing a family-style meal outside. But that’s exactly what happened on October 17 during the inaugural Destination Medical Center (DMC) Annual Meeting, where the community came together to celebrate the impact of the first five years of the 20-year DMC initiative.
The success of Minneapolis in creating a new vibrancy in its downtown urban core didn’t happen because of one or two development projects – or because of a single event like hosting the Super Bowl. Rather, it was the result of many diverse and civic-minded players working to stitch together a puzzle of very different ideas and interests to create a shared vision of renewal.
That was a key takeaway from the third annual “best practices” tour of Minneapolis’s city center on August 30 by a cross-section of Rochester civic and business leaders.
As in previous years, the 2018 tour was organized by the Destination Medical Center Economic Development Agency (DMC EDA) and curated by University of Minnesota urban design researcher Tim Griffin.
The Destination Medical Center Corporation (DMCC) Board of Directors has approved public infrastructure funding of four new downtown Rochester development projects.
The DMC funding of $11.82 million supports $342 million in new investment, that includes waterfront development, Heart of the City redevelopment, and new hotel concepts. The projects will result in the creation of more than 450 new, permanent jobs and nearly 600 construction jobs.
Destination Medical Center proves the Economic Development Model is working as board members applaud efforts
Rochester, Minn. (March 22, 2018) – The impact of Destination Medical Center (DMC) is being felt throughout the southeast Minnesota region, and DMC Corporation (DMCC) board members recognized considerable progress toward several private developments and previewed some proposed projects that continue to showcase Rochester as a prime market for investors, developers and entrepreneurs.
With all the activity taking place in the Destination Medical Center (DMC) District, the recent DMC Corporation Board of Directors meeting agenda was a full one and included updates on DMC’s top development priorities, such as Discovery Square and Heart of the City.
At the end of 2016, private investment in the DMC district surpassed $200 million, the threshold required to trigger the release of State dollars to support Rochester’s infrastructure needs. It was reported at the meeting that the Minnesota Department of Employment and Economic Development (DEED) certified the report and has authorized the release of $2.6 million of the state money for local infrastructure improvements by September.
“This is the reason we’ve been doing this for the past several years,” says DMCC board vice-chair R.T. Rybak. “I encourage the staff to take time to celebrate this achievement.”
Discovery Square Developments
One of six DMC sub-districts, Discovery Square will be a live-work environment organized around attracting and retaining the best and brightest to our community. While there is progress taking place in all of six sub-districts, Discovery Square is a board-identified priority for DMC, as are Heart of the City and transportation.
Governor Mark Dayton announced the reappointments of Susan Park Rani and R.T. Rybak as members of the Destination Medical Center Corporation Board of Directors. Both are appointed to six year terms, expiring on January 3, 2023.
“I am pleased [to] reappoint Susan Park Rani and R.T. Rybak to the Destination Medical Center Corporation Board,” said Governor Dayton. “Their respective prior experiences in the private sector and local government have been critical to the success of the Destination Medical Center initiative thus far. I thank Ms. Rani and Mr. Rybak for their willingness to continue serving.”
“I am excited to see my colleagues, Susan and R.T. remain on the board,” said Lt. Governor Tina Smith, DMCC board chair. “They provide invaluable perspective and play an integral role in shaping our efforts to ensure Rochester remains ‘America’s City for Health’ for generations to come.”
For the past fifteen years, the Minneapolis and St. Paul Chambers of Commerce have been bringing together thought leaders from across the state of Minnesota to explore and study issues in urban regions of the country. Last year, the group traveled to Seattle, while previous years have brought them to San Francisco, Denver, Portland, Austin, Charlotte, Atlanta, Toronto, San Diego, and Boston.
This week, members of the DMC Economic Development Agency leadership joined nearly 100 other civic, business, and philanthropic leaders from across the state to participate in the 15th Annual InterCity Leadership Visit to Baltimore.
Downtown development received top billing at the most recent meeting of the Destination Medical Center (DMC) Corporation Board of Directors.
Abu Dhabi-based Bloom Properties gave an update on a mixed-use project that will be anchored in the Downtown Waterfront sub-district. The $180-200 million project will include residential, hospitality, and retail space, as well as space for outdoor concerts and ice skating.
Board member and former Minneapolis Mayor R.T. Rybak called the proposal “a home run,” saying it meets a lot of the DMC’s goals for housing, retail, and community spaces.
The Rochester City Council has approved the membership of the Community Advisory Committee (CAC) that will assist with public space design for the Heart of the City DMC sub-district at the intersection of First Street SW and First Avenue SW.