Mayo Selects Developer for Discovery Square District
Rochester, MN (KROC AM News) - Mayo Clinic has decided which company will lead the way in the development of the Discovery Square district, one of the major portions of the DMC initiative.
The news was given to the DMCC Board during its meeting in Rochester Thursday.
The board was told Mayo and the developer have worked out a letter of intent and a formal announcement is expected to be made in coming weeks. The name of the company has not been revealed but the board was told it is a well-known Minnesota firm.
The Discovery Square plan calls for the addition of more than 2 million square feet to Mayo’s downtown campus over the next 20 years. Mayo’s current research footprint consists of 1.3 million square feet. The new space will accommodate research, commercial and product projects.
Mayo expects construction to begin next year on the first of several buildings in the district. Mayo says the first building will be 60,000 - 100,000 square feet.