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Rochester, MN (KROC-AM News) - The Destination Medical Center Corporation Board marked a milestone today when it approved a report documenting private investment in Rochester's DMC District.

A news release says the private investment last year totaled more than $144 million, which pushed the overall amount of private investment since the start of the DMC initiative over $1 billion. The 2020 total includes more than $60 million in investments by the Mayo Clinic and almost $84 million by other private investors. That will be enough to trigger the release of nearly $25 million in state public infrastructure funding this year.

“A year ago, when the pandemic hit and Mayo Clinic put a pause on its work and everything else, I would not have thought we would be sitting here today at $144 million, and that we’ve now over a billion dollars in overall private investment,” said DMCC Board Chair R.T. Rybak. “This is really good news.”

Destination Medical Center Corporation
Destination Medical Center Corporation

The DMC Corporation Board also voted today to approve $2.2 million in DMC funding for the Bryk on Broadway Apartments project. The workforce housing proposal calls for a six-story, mixed-use building containing 180 apartment units and commercial space. The board also approved bid documents for the Discovery Walk project, which will add pedestrian and other amenities to a four-block section of 2nd Avenue Southwest from 2nd Street to Soldiers Field Park.

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