A development team has landed the first commercial tenants to join a mixed-use complex developed next to Taiwanese Semiconductor Manfacturing Co.’s microchip plant in north Phoenix.
New York-based Mack Real Estate and McCourt Partners, the team behind the $7 billion Halo Vista project, signed deals with Costco Wholesale Corp. and Marriott International as future tenants for the 2,300-acre development that surrounds the 1,100-acre TSMC plant, located near Interstate 17 and the Loop 303 freeway.
Common Bond Development, a Phoenix-based firm, will develop two hotels: a Courtyard by Marriott and a Residence Inn. Mack Halo Vista — the developer of Halo Vista — also reached an agreement to have an auto mall within the project.
The commercial additions “enable our project to deliver much-needed services in support of the growing TSMC ecosystem,” said Chris Jansen, president of Mack Halo Vista.
TSMC’s Arizona campus was announced in May 2020. The company has since invested more than $65 billion toward the construction of three semiconductor fabrication facilities at the Phoenix site, making it the largest foreign direct investment in the state’s history, according to TSMC.
TSMC, which started chipmaking production at the site last year, is now considering six semiconductor fabrication plants, in a total project that could top $165 billion. The chip manufacturer estimates the campus will create about 6,000 jobs in the Phoenix area when the site is fully operational and potentially tens of thousands of indirect supplier jobs.
Live, work, play
Mack Real Estate Group acquired the desert land for Halo Vista in an Arizona State Land Department auction in May 2024, paying $56.3 million.
Halo Vista is expected to ultimately include about 30 million square feet of commercial space — including industrial, retail, office, research, healthcare and hospitality uses — and nearly 9,000 residential units.
The latest additions “are incredibly important as we strive to create a symbiotic, master planned, live/work/play community for innovation that works well in service of TSMC and Phoenix as a whole,” said Richard Mack, CEO of Mack Real Estate Group, in a statement.
“We have worked closely with TSMC and the city of Phoenix to understand the top-priority uses, and our team is working hard to deliver them,” Mack added.
For the record
CBRE Group’s Rusty Kennedy, Mitchell Stravitz, Mark McFate and James Cohn are the listing brokers for the industrial and mixed-use components for Halo Vista. Phoenix Commercial Advisors’ Greg Laing and Dan Gardiner are handling the retail leasing efforts.