Regents OK Tucson bio-park land deal

March 15, 2005

By hammersmith

The Arizona Board of Regents approved a land trade last week that will allow University of Arizona officials to move ahead on plans for a biotechnology park on Tucson’s South Side. Approval of the land exchange is the latest step in the construction of the Critical Path Institute (C-Path), the new FDA-affiliated drug development institute that will anchor the biotechnology park near the university.

The deal involved the University of Arizona exchanging a 132-acre parcel of land with KB Home for 65 acres near the South Kino Parkway, where the biotechnology park will be built. KB Home will then contract to build up to 600 homes near the research park, which planning officials say could also include office space, retail area and a hotel.

“It really begins to establish a quality center of the city for Tucson,” Bruce Wright told the Tucson Citizen. Wright is the associate vice president of economic development for UA.

The next steps will be forging the annexation agreement in the Tucson city council this month, and KB Home purchasing the land from current holder Sinclair Oil. After that, university officials told the Citizen that planning C-Path and the biosciences park could take up to two years.

For more information:

350-acre UA plan on S. Side wins OK of regents,” Tucson Citizen, 03/12/2005

Regents OK land swap for biotechnology park,” Arizona Daily Star, 03/12/2005