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.”
The Alatus Development project will add over 347 residential units, restaurant, commercial, and retail space. Project highlights growing momentum of Destination Medical Center initiative, with over $200 million in development since 2013.
ROCHESTER, Minn. (Dec. 15, 2016) – The Destination Medical Center Corporation (DMCC) Board of Directors today approved the $115 million Alatus LLC 2nd Street Development Project for the DMC St. Marys Place sub-district subject to a final review of the project’s financing. The 13-story mixed-use development is expected to include over 347 residential units, 13,500 square feet of ground floor retail space, and 7,500 square feet of second-floor office and retail space.
Projects would add over 270 apartment units and 200 hotel rooms to DMC district
ROCHESTER, Minn. (Oct. 27, 2016) – The Destination Medical Center Corporation (DMCC) Board of Directors today received a preliminary view of two significant mixed-use project proposals aimed at building hotel, retail, and residential housing options in key sub-districts within the DMC District. Board members also received an update regarding transportation planning efforts and approved the DMCC’s funding request for 2017.
Titan Real Estate and Investments and the Opus Group provided initial background on a proposed 156-unit apartment complex that would be built in the Discovery Square district upon a First Ave. surface parking lot. The development would include retail and parking within, as well as a green roof and pedestrian access to downtown. Titan, a local company, was the developer of “Broadway at Center,” one of two DMC-approved projects.