Amid much excitement, Mack Real Estate and McCourt Partners successfully won the bid for an Arizona State Land auction parcel located near the $65 billion Taiwan Semiconductor Manufacturing Co. plant. The two companies are now in the process of finalizing their plans for a sprawling 2,300-acre mixed-use project adjacent to the plant.
The land was purchased for $56 million and is expected to have a total value of $7 billion once fully developed with multiple uses. Mack Real Estate will serve as developer while McCourt Partners will provide financing.
Known as Halo Vista, this master-planned community is projected to encompass approximately 30 million square feet of commercial space including industrial, educational, retail, hospitality and entertainment districts. It also has potential for up to 9,000 residential units upon completion.
TSMC’s investment in Phoenix ranks among one of the largest foreign direct investments made in the United States. As development progresses on this exciting project near TSMC’s facility area continues its growth trajectory.
