Tag: Titan Hilton

Press Release: Progress and excitement build around Discovery Square as DMCC board supports Mortenson’s $35 million project in Rochester

ROCHESTER, Minn. (July 27, 2017) – The Destination Medical Center Corporation (DMCC) Board of Directors voted to approve the $35 million Mortenson project in the Discovery Square sub-district under the DMC Development Plan. The building is one in a series of DMC projects in the sub-district. The project will receive $4.9 million in DMC tax-increment financing.

“Today we take an important step forward with Discovery Square, a place where Minnesota’s next successful medical technology start-ups will be launched. This project will help diversify Rochester’s economy, create great jobs, and ensure Rochester remains America’s City for Health,” said Lt. Gov. Tina Smith, Chair of the DMC Board of Directors. “I thank Mortenson, Mayo Clinic, and the Rochester community for their work on this Discovery Square project. We have taken another important economic development step for the Destination Medical Center, Rochester, and Minnesota.”

Post-Bulletin: Broadway at Center loses Saudi investor

After terminating its deal with a Saudi prince, the long-delayed Broadway at Center project is looking for new investors.

The $145 million hotel, apartments and commercial project, which was announced in March 2014, has been awaiting a $105 million loan to help finance the 23-story complex, planned for the southeast corner of Broadway Avenue and Center Street.

The loan from Minneapolis-based Dougherty Funding LLC was to close May 31, according to a letter sent to the city of Rochester. That date came and went with no deal being done.