**TSMC Expansion Spurs New Development in North Phoenix**
The $65 billion Taiwan Semiconductor Manufacturing Company (TSMC) plant in North Phoenix continues to drive significant economic and commercial development in the region. Two major businesses – Costco and a dual-branded Courtyard by Marriott and Residence Inn – have announced their plans to join the 2,300-acre master-planned community surrounding TSMC’s campus. The hotels will be developed by the Common Bond Development Group.
These developments will be located at the intersection of Interstate 17 and Dove Valley Road. Additionally, plans are in place for an auto mall at the site, further solidifying the area as a burgeoning hub for commerce and services.
Infrastructure work at the site, now named Halo Vista, is complete, laying the groundwork for the first phase of development.
In May, Mack Real Estate Group and McCourt Partners acquired the 2,300-acre site for $56 million through a state trust land auction. The joint venture now oversees land sales within the community as development advances.
The fully realized project is estimated at $7 billion and could encompass as much as 30 million square feet of mixed-use space. Plans include retail, office, hospitality, research, industrial, and healthcare facilities, as well as up to 9,000 residential units, making Halo Vista one of the most significant development projects in Arizona.
