Construction has started on the build-out of Halo Vista, a 2,300-acre mixed-use development adjacent to the Taiwan Semiconductor Manufacturing Co. campus in north Phoenix, KTAR News reports.
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A ceremonial groundbreaking was held for the project March 26 by co-developers Mack Real Estate Group and McCourt Partners.
The $7B development, located on 2,300 acres, will reportedly span 30M SF, with industrial, office, retail, research, healthcare and educational space as well as hotels and residential units.
The development will be tailored to the thousands of workers coming to the region to serve the massive TSMC campus, which developers say has already begun to transform Phoenix. Local economic development officials say the mixed-use development can also be transformative for the area economy.
“Halo Vista represents a transformative development to usher in a new era, serving as a catalyst to accelerate Arizona's economic future,” Arizona Commerce Authority President and CEO Sandra Watson said.
TSMC, a Taiwan-based chipmaker, committed $165B for the build-out of six fabrication plants, two packaging facilities, and a research and development center in north Phoenix.
The first tenants to anchor the Halo Vista development are slated to be a Costco, an auto mall with 11 dealerships, and a five-story, dual-branded Marriott hotel featuring both Courtyard and Residence Inn properties. These retail and hospitality components will be situated along I-17 and Dove Valley Road.
The auto mall is being developed in partnership with DeRito Partners and the hotel in partnership with Common Bond Development Group.
Halo Vista will take 15-20 years to complete, according to AZ Big Media. Mack Real Estate Group had worked in collaboration with the city of Phoenix for several years to make the project happen.
Initial construction will focus on horizontal infrastructure and site preparation, Mack Real Estate Group said in its March 27 release, with work led by Phoenix-based Willmeng Construction.
Plans for the Halo Vista development were first announced in October 2024.
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