Construction Begins on America’s Next Life Science Corridor
- Nov 06, 2017
Mortenson, Destination Medical Center, the State of Minnesota and local lenders have broken ground on the first of several new facilities within the 16-block Discover Square sub-district in Rochester, Minn., which is part of the city’s $5.6 billion DMC Initiative.
“Discovery Square will be the place where Minnesota’s next generation of medical start-ups will want to be. It will create new opportunity for jobs, innovation, and economic growth, and represents a major step toward fulfilling our mission of building America’s City for Health,” said Lt. Governor Tina Smith, chair of the DMC Corp. Board of Directors, in prepared remarks.
Phase one comprises a four-story, 90,000-square-foot building designed to support the acceleration and translation of promising health-related therapies and technologies. The property is set to open in 2019, at the corner of 4th Street and 2nd Avenue SW. The project will include centrally located common spaces, event programming throughout the year and an open workspace design where tenants can adapt their use of space.
Mayo Clinic, which is set to be the first anchor tenant, will lease 30,000 square feet across three floors. Three Mayo Clinic groups will occupy the space: Biomedical Technology, Advanced Manufacturing of Regenerative Products and Advanced Diagnostics.
“The DNA of this building and Discovery Square is the innovation, collaboration, and translation of science and discovery,” said David Mortenson, chairman of Mortenson, in a prepared statement. “A complementary tenant mix will have the opportunity to work alongside the best and brightest in Rochester on real-world, life-changing solutions. It will enhance connectivity and enable high-level collaboration to share ideas and test and deliver new products.”
The building was designed by the team of RSP Architects and HOK. Colliers is the leasing agent and oversees tenant recruitment in partnership with Mortenson. The company is also the developer and designer for the 600-key, $224 million Hyatt Regency Portland, which also broke ground late this summer.
Images courtesy of Mortenson