Mack Real Estate and McCourt Partners have successfully secured a parcel of land through an Arizona State Land auction, generating much excitement. The 2,300-acre mixed-use project will be located near the $65 billion Taiwan Semiconductor Manufacturing Co. plant and is now in the planning stages.
The two companies paid $56 million for the land, which has an estimated value of $7 billion once fully developed. Mack Real Estate will serve as developer while McCourt Partners will provide financing for this ambitious project.
Dubbed “Halo Vista,” the development is expected to encompass approximately 30 million square feet of commercial space across various uses such as industrial, education, retail, hospitality and entertainment. It also includes plans for up to 9,000 residential units upon completion.
TSMC’s significant investment in Phoenix is considered one of the largest foreign direct investments in the United States.
