Mayo Clinic Names Mortenson As Its Discovery Square Developer
Mortenson Company will spearhead the development of Mayo Clinic’s new Discovery Square research and technology center, the health organization said Friday.
After recently wrapping its construction of U.S. Bank Stadium, the Minneapolis-based construction and development services firm will collaborate with Mayo in the six-block space’s creation.
“We are honored to partner with Mayo Clinic on their vision for a global destination for health and wellness in Rochester,” said Mortenson chairman David Mortenson in a statement. “Discovery Square will serve as a keystone of the Destination Medical Center economic development initiative that will successfully bring together biomedical research, education, and innovation through unparalleled public-private investment in the city, the region and the state.”
For over a year, Mayo has been organizing the $6 billion Destination Medical Center (DMC) project, which it hopes will transform Rochester into America’s health care capital. Mayo is on the hook for the largest chunk of money in the redevelopment, although it is receiving additional support from private investments and $585 million in taxpayer money.
Discovery Square is one of six sub-districts within the greater DMC Development Plan.
“Discovery Square, which will include Mayo and other private businesses, is a key milestone for DMC,” said Lt. Governor Tina Smith, “and this announcement puts us another step closer to realizing Minnesota’s largest economic development partnership [in state history].”
Discovery Square will be nestled near Mayo’s current headquarters in downtown Rochester. The new space is said to include research, commercial, and product development facilities, along with a “first-of-its-kind urban bioresearch campus.”
Once completed in 2019, Mayo hopes Discovery Square will be a key driver for job growth and medical innovation in the state.
“Discovery Square’s establishment is a critical component of the greater DMC vision, and the collaboration with Mortenson brings Mayo Clinic closer to realizing the positive impact that Discovery Square will make,” said Jeff Bolton, chairman of the DMC Economic Development Agency Board.
Discovery Square is the first project in the DMC Development Plan. Mayo has said it expects the entirety of the DMC project development to last 20 years.