Developers have started construction on one of Phoenix's most ambitious mixed-use developments to date.
Halo Vista spans 2,300 acres just to the north of Taiwan Semiconductor Manufacturing Co.'s emerging chipmaking campus. In the years to come, the site will be transformed from untouched desert into 30 million square feet of development across industrial buildings, offices, retail centers, educational uses, hospitality and up to 9,000 residential units.
The $7 billion project is spearheaded by Mack Real Estate Group and McCourt Partners, which are billing Halo Vista as a "city within a city." Project stakeholders broke ground on Halo Vista on March 26. Mack Real Estate paid $56.3 million for the land through an Arizona State Land Department auction in May 2024.
TSMC, which makes chips on behalf of customers that are powering the artificial intelligence real estate boom, officially entered Arizona in 2020 when it bought 1,128 acres at a state land auction. The company started chipmaking production at the site in 2024 and TSMC's expansion has only grown since, most recently by acquiring more than 900 acres in a January 2026 state land auction.
"TSMC's semiconductor products are fundamental to the modern global tech economy, making TSMC one of the most important companies of our time," said Richard Mack, chief executive officer of Mack Real Estate. "Our job is to create the ecosystem at Halo Vista that best supports TSMC's success."
Halo Vista is expected to create thousands of jobs across several industry sectors connected to TSMC. Initial tenants lined up for Halo Vista include a Costco, a planned auto mall developed by DeRito Partners and a dual-branded Marriott hotel featuring both Courtyard and Residence Inn properties from Common Bond Development Group.
This initial phase of construction will focus on horizontal infrastructure and site preparation, with work being led by Phoenix-based Willmeng Construction.
Surrounding cities feed into TSMC's pipeline
The concept for the park was created to help woo TSMC a decade ago.
"We spent three years drawing this science and technology park on paper," said Christine Mackay, president and CEO of the Greater Phoenix Economic Council. "What we promised TSMC was that supply chain. Their suppliers would be able to be here, walk across the street, solve problems and work together."
In total, TSMC wants to have six chip-manufacturing sites, two advanced packaging facilities and a research and development center between the collective 2,000-plus acres it now owns in Phoenix.
Nvidia estimates that global AI infrastructure spending on real estate and other support systems will total as much as $4 trillion by the end of the decade.
"If you want innovation to thrive, you must build the environment around it," said Frank McCourt, founder and executive chairman of McCourt Partners. "And when we get this right, we’re not just building a brand-new place — we’re helping define how our collective future is built."
It's not just Phoenix that's looking to capitalize on TSMC's presence. Recently, the city of Peoria, which is about a 25-minute drive northwest of the chip plant, established an innovation corridor to attract TSMC suppliers and support new housing for future residents.