TUCSON, AZ (Tucson News Now) - The UA Tech Park announced the developers of two projects on the southeast side of Tucson, which will transform much of the area.
"It will be about $400 million when built out," said Bourn Partners president and CEO and Don Bournwhen.
It will double the size of the tech park and double the size of the workforce in the next 10 years.
As of now, there are fewer than 7,000 employees at the tech park.
Barring a serious economic downturn, that number could exceed 14,000 by the time its finished, according to Bruce Wright, the tech park associate vice president.
The Village will be a mixed use development and will include retail, commercial, residential and a hotel.
The project has been discussed for years but the economy has been weak.
Wright said the economy has bounced back in Tucson, leading them to believe they can move forward.
The housing component will include some 300 homes, many of which will be upper income housing, a rarity for that part of town.
"The kind of people we employ here and high wage earners," Wright said. "They're earning twice the Pima County wage."
According to literature released by the Tech Park, the average wage will be $92,000 a year.
The second project will be The Bridges, which will be near Kino and Interstate 10.
The Bridges will include about 300,000 square feet of lab and office space.
It will be built by Utah developer The Boyer Company, which said construction could begin in early 2019.
The Village is being built with the next generation of worker in mind, the Millennial.
"They want their house to be (close) to their work site, they don't want to get in a car to drive someplace," Wright said. "They want an exciting work place that provides a healthy environment, recreational offerings, social opportunities."