ROCHESTER, Minn. (KTTC) – The downtown Rochester skyline served as the backdrop for the 3rd Annual DMC Real Estate Development and Investment Summit.
Every year, the summit brings together engineers, architects, and real estate developers from across Minnesota to learn about the latest happenings in the Med City.
“The big objective is to help people understand the opportunity to help invest and grow Rochester,” said Patrick Seeb, the Director of Economic Development at DMC.
The last summit took place in October. Since then, the downtown area has seen a number of changes.
“Remarkably, even the building we’re in today [the new Hilton Hotel] didn’t exist last year. We can see the crane out of the Chateau where the remodeling is going on. In many ways, those who live here see it as a mess or inconvenience, but for people who come here once a year, they marvel at the change,” added Seeb.
Meanwhile, private investment continues to grow for Destination Medical Center projects. Between 2017 and 2018, private investment in DMC increased by more than 100% from $45 million to $135 million.
By the time the 20-year DMC project is complete, it will have racked up $5.6 billion, making it the largest project in state history.
Thursday’s summit included short presentations on the following: Rochester Opportunities, Future of the Mayo Clinic, DMC Updates, Transit Oriented Development, and Affordable Housing Opportunities.