After two years of negotiations, a formal agreement has been reached under which the University of Arizona will give KB Home 124 acres at its Science and Technology Park on Rita Road north of Interstate 10 in exchange for 65 acres at 36th Street and Kino Parkway for its planned Bioscience Park.
As part of the agreement, nearly 500 acres at the Tech Park is being annexed into the City of Tucson.
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The Bioscience Park is part of a 357-acre mixed-use development called the Bridges, which includes 115 acres of retail and commercial development and more than 1,000 residential units.
The Bioscience Park is being designed to provide the facilities and infrastructure required by startup and mature biotech companies. When completely developed, the park will comprise nearly 3 million square feet of office, laboratory, educational and residential facilities. Construction is expected to begin in 2008.
Also included in that project will be a bioscience high school, hotel and conference center, along with some multitenant buildings.
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