Jeffry Scott / Arizona Daily Star 2004

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Sellers also-rans in market for homesJosh Brodesky: For untold thousands, it all began at BrodskyBeaudry RV buys time in reorg plan All aboard survive Tucson air crash Pima foreclosure filings spiked in JuneState has help for buying foreclosuresJosh Brodesky: What will we do with all that dirt?Parade of Homes houses go to bankJosh Brodesky: Quarrel clouds Sun City VistosoHOA in Sun City Vistoso seeks to create real estate brokerage

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A Costco "big-box" store is likely coming to Tucson's South Side next summer as an anchor to the UA biosciences park and mixed-use development at East 36th Street and South Kino Parkway.

Costco Wholesale has agreed to buy 16 acres on the site from retail developer Eastbourne Investments Limited, said Frank Egan, Eastbourne's president. While the two parties are under contract for the deal, it probably won't close until summer after Costco does its due diligence and Eastbourne gets the site ready for construction.

"We are under contract to sell to Costco, but that does not mean they have to buy it," Egan said. "It's likely to happen in August."

Egan said he expected construction to begin shortly after closing, and for the Costco to be open by early 2010.

The Costco will anchor the retail "power center" of the 357-acre mixed-use development dubbed "The Bridges."

In addition to a retail development, plans for the site include a 65-acre biosciences park to be developed by the University of Arizona and 110 acres for an upscale KB Home development.

Construction of the mixed-use center is awaiting completion of a major flood-control project at the site. There was controversy over the prospects of a big-box store and conjecture that Wal-Mart would be the retail anchor.

Egan said his firm is in talks with another major retail anchor, although he wouldn't say which company. He also declined to say what price Eastbourne and Costco had agreed on for the 16 acres.

"Even in this difficult economic environment, we are still extremely excited and optimistic that we are going to get something going here," he said.