Destination Medical Center crossed the $1 billion mark in total private investment in 2020, marking a major financial milestone despite a year of turbulent economic conditions.

Just over $144 million in private money was invested into the district in 2020, DMC officials reported Tuesday; Mayo Clinic invested $60.3 million, while all other private investments added up to $83.3 million. The largest 2020 non-Clinic projects in the DMC district included the construction of Crave restaurant; The Hue Apartments (show above); and the Hyatt House.

Graphic courtesy Destination Medical Center

While total investment from Mayo and other private developers did fall to their lowest levels since 2017, board members said the numbers still represented “very good news” for the long-term health of the initiative — taking into account the hardships endured because of the pandemic.

“To have come through this past year with this level of investment still in place, I think is remarkable,” said DMC Corp. Board Member Paul Williams. “Obviously, it’s [due to] a lot of hard work on everyone’s part.”

Workforce housing project gets nod

Later in Tuesday’s meeting, the DMCC Board approved the use of $4.4 million in public funds for the next multi-story housing project in the downtown area.

The Bryk on Broadway Apartments project, approved by the board Tuesday in a unanimous vote, will create roughly 180 units of “workforce housing” on the northwest corner of North Broadway and Civic Center Drive NW. Over 7,000 square feet of commercial space will also be available - no word on any potential tenants, although board members said the developer was considering prioritizing a grocery store and/or infant child care.

The $39.5 million project will be partially financed with $2.2 million in DMC state funds, plus another $2.2 million in tax increment financing (TIF) dollars.

Patrick Seeb, executive director of DMC’s Economic Development Agency, said the project’s success was dependent on using public dollars.

“We don’t believe this project could deliver on the board’s goal [of increasing affordable housing units] without support from the city and DMC,” said Seeb.

Construction is expected to begin this summer with an opening projected for fall 2022.

Board OKs Discovery Walk upgrades

Also in Tuesday's meeting, the Board approved the addition of roughly $3 million in projects to the scope of the Discovery Walk project — originally approved by the Rochester City Council on March 1.

DMC and city officials will now pursue bids for snowmelt capabilities along the Second Avenue SW corridor (up to $2.17 million) and multi-season weather shelters ($1.1 million). If the bids come in on budget, the final cost for Discovery Walk is projected to land around $22 million.

The project is set to break ground this summer and wrap up by 2023.

Isaac Jahns is a Rochester native and a 2019 graduate of the Missouri School of Journalism. He reports on politics, business and music for Med City Beat.