DMC Corporation Board to Consider Two Projects
Rochester, MN (KROC-AM News) - The Destination Medical Center Corporation Board meets Thursday for the first time since the panel voted to formally adopt the DMC Development Plan last week.
The agenda for the meeting includes a request to designate the city’s plan to purchase of the historic Chateau Theater in downtown Rochester as part of the DMC initiative. That would allow city apply the $6 million purchase price toward meeting Rochester’s $128 million DMC contribution.
The DMCC Board is also scheduled to consider whether to grant the DMC designation to the proposed Broadway at Center project. Developer Gus Chafoulias is planning to begin construction this year on the $130 million 23-story hotel, apartment, office and retail complex.