$6B Destination Medical Center Draft Development Plan Revealed
- Dec 22, 2014
A $6 billion, long-term initiative meant to turn the Mayo Clinic and the city of Rochester into one of the leading medical destinations in the world recently reached a crucial milestone. A 694-page draft development plan was submitted to the Destination Medical Center Corp. (DMCC) board on Dec. 17.
The DMC is the largest economic development initiative in the state of Minnesota and one of the largest in the United States, expected to create 35,000 to 45,000 new jobs and generate billions of dollars in new tax revenue over the next two decades. The master plan calls for a mix of commercial, hospitality, retail, office, healthcare and residential elements and will be implemented in phases over the following 20 years.
According to the recently submitted draft development plan, the project will consist of a dense, concentrated area organized into six sub-districts: the Heart of the City, Discovery Square, Downtown Waterfront, Central Station, St. Mary’s Place and the UMR/Recreational Area. The project team includes Hammes Co., architectural firm EE&K, Nelson\Nygaard Consulting Associates, Kimley-Horn & Associates, AECOM, Himle Rapp and Dorsey & Whitney, with additional contributions from the city of Rochester, Olmsted County and the Mayo Clinic.
“This is an exciting moment for the DMC initiative,” DMCC Board Chairman Tina Smith said in a statement. “After nearly a year of planning, listening to significant input from the community and representatives from the city of Rochester, Olmsted County and the state of Minnesota, all of these ideas are coming together in one comprehensive plan that will guide the future of this exciting project.”
The DMCC board is expected to formally submit the draft development plan to the city of Rochester on Jan. 29 for a series of public comments. Developers and partners plan to invest more than $205 million into the project over the first five years of implementation.
Rendering courtesy of the DMC.
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