US-based real estate investment firm Mack Real Estate Group (MREG) and McCourt Partners have commenced construction on Halo Vista, a 2,300-acre development in North Phoenix adjacent to the Taiwan Semiconductor Manufacturing Company (TSMC) campus in Arizona.
Officials held a groundbreaking ceremony to mark the start of the project, which is expected to support the expansion of Phoenix’s semiconductor sector.
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The $7bn project will include nearly 30 million sq ft of mixed-use space across industrial, manufacturing, office, retail, residential and educational facilities.
The initial construction phase, managed by Willmeng Construction of Phoenix, will focus on preparing the site and installing horizontal infrastructure.
Retail and hospitality tenants confirmed for the first stage include Costco, an auto mall developed by DeRito Partners with around 11 dealerships, and a five-storey Marriott hotel offering Courtyard and Residence Inn accommodations through Common Bond Development Group.
These businesses will be located along I-17 and Dove Valley Road to accommodate incoming workers and residents.
More than 100 attendees were present at the ceremony.
Speakers included MREG CEO Richard Mack; Frank McCourt, founder and executive chairman of McCourt Partners; Phoenix District 1 Councilwoman Ann O’Brien; Sandra Watson from the Arizona Commerce Authority; Christine Mackay from the Greater Phoenix Economic Council; Jordan Lang from McCourt Partners; Chris Janson from Mack Halo Vista; and Willmeng Construction CEO James Murphy.
Mack said: “Our job is to create the ecosystem at Halo Vista that best supports TSMC’s success and reindustrialisation in America generally.
“That is why today’s groundbreaking is monumental for Phoenix, the US and the world. We are grateful to the public officials and private sector partners who are helping to bring this project to life.”
Halo Vista aims to support companies working alongside TSMC as well as students and professionals in science and engineering fields.
Janson said: “From our public partners to our private stakeholders, this project reflects a shared commitment to building the ecosystem that will support TSMC and the broader semiconductor industry.”
