By Karen Schutte | Real Estate Daily News
The Pima County Board of Supervisors Sept. 18 unanimously approved selling at auction a portion of a County-owned parcel located at Kino Parkway and 36th Street to TEP and rezoning of Foothills Mall.
The County plans to sell 5.16-acres of the property for a minimum of $1.435 million. The entire County-owned parcel spans 20 acres. The remaining 15 or so acres will be used for the park. TEP has agreed to also pay for 10 years maintenance costs for the park, which will be rolled into the purchase.
Tucson Electric Power is expected to purchase the property for a power substation. Proceeds from the sale will be used to construct an open space park. The substation will stabilize power provision in this growing area of the city. The proposed TEP substation would serve the surrounding area, which includes several neighborhoods and the growing Tucson Marketplace at The Bridges, a large retail complex that includes Wal-Mart, Costco, a multi-plex theater and dozens of retail shops and restaurants. It would also serve The UA Tech Park at The Bridges, a mixed-used development that will feature UA-associated research labs and biotech incubators, plus residential areas.
