The highly-anticipated Halo Vista development is set to begin in early 2025, according to the developers. This $7 billion project will span over 2,300 acres in N. Phoenix and will be located next to the Taiwan Semiconductor Manufacturing Company Plant, which has a value of $65 billion. The factory is expected to reach a total of approximately 30 million square feet upon completion and could generate up to 70,000 new jobs.
According to reports from the Phoenix Business Journal, Mack Real Estate Group and McCourt Partners are currently focusing on establishing infrastructure for the project. They are collaborating with various departments within the City of Phoenix for master plans regarding water supply and transportation as well as an agreement for infrastructure reimbursement specifically tailored for this site’s size of 2,300 acres. The initial phase of construction will include an auto mall along with retail spaces and offices that cater towards industrial development.
Halo Vista’s two main districts consist of “The Forge,” which spans over a massive area measuring at around twelve million square feet dedicated solely towards manufacturing purposes; additionally there is also “Sonoran Oasis Research & Technology Park” which offers flexible technology areas alongside office spaces totaling at about three-and-a-half-million-square-feet respectively.
One notable feature along Interstate-17 includes more than half-a-million-square-feet designated exclusively towards destination retail outlets aimed at supporting both employees working on-site as well as future residents who may reside within close proximity.
Connect CRE recently reported that preparations are underway for one major undertaking – Halo Vista – set in motion by developers Mack Real Estate Group & McCourt Partners who have announced their readiness since long-awaited anticipation began building up earlier this year (2021). With its estimated cost reaching upwards into billions ($7B), it’ll cover vast expanses spanning across North-side regions near central Arizona city limits while being adjacent neighboring vicinity where Taiwan-based semiconductor manufacturer giant operates under whopping valuation worth sixty-five billion dollars ($65B). Upon completion, this project’s final output could potentially reach a staggering 30 million square feet in total area while generating employment opportunities for over seventy thousand (70K) individuals.
As per Phoenix Business Journal’s latest updates, the developers have already started laying down groundwork by first establishing necessary infrastructure. They’ve been working closely with multiple departments within City of Phoenix to devise master plans covering water supply & transportation needs along with an agreement tailored specifically towards reimbursing infrastructural costs incurred during development phase across entire 2,300-acre site. Initial construction phase will include building auto mall alongside retail outlets and office spaces dedicated towards industrial activities.
Halo Vista is divided into two major districts – “The Forge” occupying massive twelve-million-square-feet manufacturing hub and “Sonoran Oasis Research & Technology Park” offering flexible technology zones combined together with office spaces measuring around three-and-a-half-million-square-feet respectively. One notable feature situated close-by Interstate-17 includes more than half-a-million-square-feet designated exclusively for destination retail outlets aimed at catering both on-site employees as well as future residents residing nearby areas upon completion of this ambitious project set to begin next year (2022).
