Mayo Clinic’s $6 billion makeover of downtown Rochester involves staggering amounts of money and equally staggering amounts of planning.
Before Rochester can build, it has to decide what to build. On Friday, Mayo named six new planners to guide Rochester’s future development – including a retired Minnesota Twins executive and the dean of the Carlson School of Management.
The new Destination Medical Center Economic Development Agency will spearhead the community planning, development and marketing of the 20-year project and advise the Destination Medical Center Corporation board.
Its six-member board includes: Jerry Bell, former president of the Minnesota Twins; Lisa Clarke, executive director of the Destination Medical Center’s Economic Development Agency; Mayo physician and pediatrics professor Dr. Patricia Simmons; Gary Smith, president of Rochester Area Economic Development; Wendy Wood, senior investment manager at University of Minnesota Foundation Investment Advisors; and Srilatta Zaheer, dean of the University of Minnesota Carlson School of Management. The DMC board approved their appointment Friday.
“These leaders who have agreed to serve on the…board bring a wealth of expertise and knowledge that will ensure the work of the EDA is on the highest level and fulfills the mission of the DMC initiative in a way that benefits the people of Minnesota and the Rochester community,” Mayo Clinic president and CEO Dr. John Noseworthy said in a statement. “Today’s announcement represents another important step forward in making the DMC vision a reality.”
Mayo is pouring more than $3 billion of its own money into the Destination Medical Center and has pledged to line up another $2 billion in private investment. The state and local governments are chipping in another half a billion in taxpayer funding for the project, which will expand the medical center and overhaul downtown Rochester into a destination in its own right, brimming with new businesses, restaurants, parks and entertainment options.
It may be 2015 before Rochester residents and visiting Mayo patients notice any new construction. The Economic Development Agency will hold public meetings to vet development proposals and make their recommendation to the board.
The Destination Medical Center Corporation also launched its new website Friday – www.dmccorporation.org.