The University of Minnesota Foundation (UMF) announced that Mortenson has been chosen as its partner for the development of the first phase of a 12-acre hub of innovation and economic development in the Twin Cities, newly named The Minnesota Innovation Exchange or “The MIX.”

The MIX, located on the eastern edge of the University of Minnesota Twin Cities Minneapolis campus, is a private development with a vision to create spaces for those that want to be close to the innovation and research of the University; as well as a dynamic living and learning community. Bounded to the north by Biomedical Discovery District and Huntington Bank Stadium and to the south by the University’s future clinical campus expansion, The MIX is well positioned to anchor Minnesota’s next innovation hub.

“The MIX will be an ideal bridge between a newly revitalized entrance to campus and the incredible breadth of research happening across the University,” said Interim President of the University of Minnesota, Jeff Ettinger. “The University is thrilled to partner with its foundation to ensure this space not only serves the needs of faculty and students; but also the potential for the future health science campus as well as the wider needs of our industry and government partners.”

When complete, The MIX will feature approximately three million developed square feet with a variety of uses, including research and development, innovation, multifamily residential, hospitality, restaurant, entertainment, and similar destination spaces.

“Mortenson and their leadership bring not only their national development expertise, but their willingness to bring collaborators and partners into the project who are dedicated to the mission focus for this unique project and its location,” said Kathy Schmidlkofer, CEO and President, UMF. “ The Mortenson team will ensure that The MIX will represent what’s unique about co-locating next to one of the world’s largest and strongest research institutions and guarantee that The MIX becomes a destination for the neighborhood, the faculty and students, and people seeking to create innovations that make a difference to the world.”

Mortenson was selected through a competitive process that included many highly qualified firms, both local and national. Mortenson is currently leading the development of Discovery Square, a cornerstone of Destination Medical Center (DMC), a unique 20-year economic development initiative, in Rochester, Minn. HGA has been selected by Mortenson as the design partner for The MIX.

“The University of Minnesota has a long history as an engine of innovation and The MIX will provide space for tomorrow’s big ideas to come to life,” said David Mortenson, Chairman, Mortenson. “We take very seriously the responsibility of what it means to be the first anchor for this larger vision. As a company, and as Minnesota citizens, we know that doing this right means not only meeting the needs of the state, campus, and neighboring community, but also creating an inspired environment for innovators from around the world.”

Leading the project for the foundation is Pat Mascia, Managing Director, University of Minnesota Real Estate Advisors along with Mortenson’s Dan Lessor, Vice President, Real Estate Development; Brent Webb, Business Development Executive; and Bob Solfelt, Principal in Charge. Mortenson will also begin to curate the innovation tenants for the first building. Groundbreaking for the first building is anticipated in the next 18-24 months.

For more about The MIX go to: www.TheMIXMN.com

About UMFREA
The University of Minnesota Foundation Real Estate Advisors (UMFREA) supports the outstanding achievements and success of students, faculty, and researchers through prudent management of the foundation’s real estate assets. UMFREA also provides expert advising to University and foundation leaders on real estate strategies and gifts and makes strategic investments that enhance the surrounding campus communities.

About Mortenson
Mortenson is a U.S.-based, top-25 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. Mortenson’s expanding portfolio of integrated services helps its customers move their strategies forward, ensuring their investments result in high-performing assets. The result is a turnkey partner, fully invested in the business success of its customers. Mortenson has operations across the U.S. with offices in Chicago, Denver, Fargo, Iowa City, Milwaukee, Minneapolis, Nashville, Phoenix, Portland, Salt Lake City, San Antonio, Seattle, and Washington, D.C. For additional information, visit www.mortenson.com.

Contacts:

Pat Mascia
Managing Director
University of Minnesota Foundation Real Estate Advirsors
patmascia@umfrea.org

Cameron Snyder
Director of Communications
Mortenson
cameron.snyder@mortenson.com