By Angela Gonzales | Phoenix Business Journal
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?”
