Now that the state land commissioner has resigned, the developer of the proposed biomedical corridor near Mayo Clinic’s hospital in north Phoenix is worried about the future of his $1 billion project.
Marvin Suomi, president and CEO of KUD International LLC, said he was hoping for a state land auction in May or June, but now said that may be delayed until Vanessa Hickman’s replacement is named. So far, he has invested $2 million in prep money into the biomedical research park he hopes to build near Mayo Clinic’s hospital.
“This is a scary moment,” he said. “We’ve spent a lot of money to not know whether we’re in purgatory, heaven or hell. Our question is how do we proceed and who do we proceed with?”