Mack Real Estate and McCourt Partners have successfully secured a parcel of land through an Arizona State Land auction, located near the $65 billion Taiwan Semiconductor Manufacturing Co. plant. The two companies are now in the process of solidifying their plans for a 2,300-acre mixed-use project adjacent to the plant.
The land was purchased for $56 million and is estimated to have a value of $7 billion once fully developed with multiple uses. Mack Real Estate will serve as the developer while McCourt Partners will provide financing for the project.
Dubbed “Halo Vista,” this expansive development is expected to encompass approximately 30 million square feet of commercial building space across various sectors such as industrial, education, retail, hospitality, entertainment and up to 9,000 residential units upon completion.
TSMC’s investment in Phoenix is considered one of the largest foreign direct investments made in the United States.
