Mack Real Estate Moves on More Phoenix Land Near Chipmaker

The land rush around Taiwan Semiconductor Manufacturing Company’s north Phoenix campus is gaining steam.

Mack Real Estate Group has applied to develop another 1,473 acres of Arizona State Land Department property directly west of Mack’s 2,300-acre $7 billion Halo Vista master-planned project, the Phoenix Business Journal reported.

The parcel sits between Halo Vista and Peoria’s planned 7,300-acre Peoria Innovation Core district, a forthcoming mixed-use technology and manufacturing district spanning more than 7,300 acres.

The developer envisions the acreage as a potential expansion of Halo Vista’s planned technology district, said Mark Edelman, the land department’s director of planning and engineering.

Mack Real Estate Group agreed to begin planning work on the site even though it has not yet secured ownership or entitlements.

The parcel must still go through a marketed bid process and a public auction.

Mack’s application indicated it plans to seek entitlements, and it aims to create a master plan for the property while building out infrastructure.

Mack’s application underscores how quickly developers are trying to lock down land surrounding TSMC’s campus, whose Arizona ambitions have exploded since the company first paid $89 million for 1,128 acres in 2020. What began as a $12 billion fabrication plant commitment has since ballooned into a projected $165 billion investment, triggering one of the largest waves of speculative land planning metro Phoenix has seen in decades.

Nearly 20,000 acres of land around the chipmaker’s campus, much of it formerly controlled by the state, is now either under development or moving through entitlement processes.

Mack and McCourt Partners placed a winning bid for Halo Vista in 2024 for nearly $56.3 million. The development is underway east of TSMC’s plant along Interstate 17. Costco has been announced as its first tenant, while future districts include large-scale advanced manufacturing, research parks and mixed-use commercial development.— Chris Malone Méndez