By Brenna Goth for The Arizona Republic
A vision for a downtown health complex led by Arizona State University and the world’s wealthiest doctor could be approved May 19 by the city council after the first public presentation of the plan for expansion on the Phoenix Biomedical Campus.
The council will consider amending ASU’s downtown lease or approving a new agreement to include about seven acres of undeveloped city land for a health-solutions project. The project would include labs, offices, academic institutes, clinical and manufacturing facilities, and monitoring and command centers.
ASU’s partner for the project is NantWorks, a company led by billionaire entrepreneur Dr. Patrick Soon-Shiong, who already has a presence in the Valley, including an institute announced in October that will bring treatments to patients at Phoenix Children’s Hospital using supercomputer-based technology.
Under the proposal, ASU would lease the land north of Fillmore Street for 30 years. The land would be rent-free for up to 10 years and would be transferred to ASU ownership upon completion of the lease.
ASU is proposing a phased development for the seven acres, according to the agenda. The first phase is a minimum $75M, 200KSF development to be completed 2 1/2 years after the lease amendment.
Design and construction of each phase would take a maximum of 30 months, with successive phases starting six months after the completion of the phase before it.
The city council will hear the proposal May 19 during its policy session at the city council chambers, 200 W. Jefferson St.
Read more at The Arizona Republic