UA News

The University of Arizona and KB Home have reached formal agreement on a land transaction that will swap 124 acres at the UA Science and Technology Park (Tech Park) for approximately 65 acres at 36th Street and Kino Parkway.

This agreement culminates two years of discussions and negotiations between KB Home and the University. As part of the agreement, nearly 500 acres of land at the Tech Park were annexed into the City of Tucson.

The land at 36th Street and Kino Parkway will serve as the future site of the Arizona Bioscience Park. It is part of a 357 acre mixed-used development, known as the Bridges, which includes 115 acres of retail and commercial development and more than 1,000 residential units.

The Arizona Bioscience Park is being designed and developed to provide the facilities and infrastructure required by start-up and matures biotech companies. At full development, the park will consist of nearly 3 million square feet of office, laboratory, educational and residential facilities. Development is expected to begin in 2008 and will include a hotel and conference center and multi-tenant buildings. Plans also provide for the construction of a biosciences high school.

The land at the Tech Park will be used for developing up to 600 new residential units in the fastest growing portion of the Tucson metropolitan area. In addition to the new housing, a new arterial road will be constructed that will bring infrastructure in to the interior of the Science and Technology Park enabling future development that includes retail and a hotel and conference center.

The Tech Park is 1,345 acres and is home to over 27 companies including four Fortune 500 companies: IBM, Raytheon, Citigroup and General Dynamics. It is also home to Vail High School and UA South, Pima County Campus.

"An essential component of the UA's mission is that our efforts benefit the Tucson community first," said UA President Robert Shelton. "Both of these projects will contribute to improving the quality of life for thousands of Tucsonans."

"We are pleased with the latest developments regarding this project and we are excited to be moving forward in our plans for bringing another beautiful community to the Tucson area," states John Bremond, president of KB Home.