ROCHESTER, Minn. (KTTC) – It’s been about a year since ground-breaking at Discovery Square in Downtown Rochester.
On Tuesday, we got a look at the soon-to-be complete life sciences center. It’s part of Discovery Square, and its goal is to attract science researchers and related businesses.
And it has indeed attracted businesses; they’re at full capacity with a wait-list should any one of them back out.
“We believe it’s going to be the economic engine in the downtown Rochester area,” said Lisa Clarke, Executive Director of DMC’s Economic Development Agency.
The life sciences center will be 89,000 square feet once it’s complete. It’s only one, four-story building in a 16-block area.
Mayo Clinic has about one-third of that space spoken for.
UMR leased space on the first and third floors, while EPIC medical systems is also on the first floor, and the rest of the space is for other partner companies to lease.
“Discovery Square is for this community. Often times people think it’s just medical or it’s just science or bio science, life science. There’s really something in Discovery Square for everyone,” said Clarke. “Discovery Square means housing, and it means retail, it means childcare, it means diversity of new companies, it means a lot of jobs.”
But it’s not for just anyone, businesses and researchers have to apply and show that they can contribute to the research that will happen in the building.
“We really want tenants in the building who create synergy, not only for themselves, but for others. We want to see how else you can help accelerate the research that’s happening,” said Jeremy Jacobs, Director of Mortenson Real Estate Development. “Because ultimately the building is about hope. Hope for a different outcome, a different future for patients. The research that comes into and out of this building should change healthcare.”
The first tenant is expected to move in around Memorial Day, and by the end of 2019 all the tenants should be settled in.