Phoenix Is Building a City Within a City

According to a recent Phoenix Business Journal report, developers have officially broken ground on Halo Vista, a massive mixed-use development surrounding TSMC's semiconductor campus in northwest Phoenix. New York-based Mack Real Estate Group and McCourt Partners are behind the project, which they acquired through an Arizona State Land Department auction in May 2024 for $56.28 million — picking up over 2,300 acres in the process.

The first phase is already underway. A new Costco is expected to open in the first half of next year, followed by an auto mall and two new Marriott hotels. The broader buildout — which could take over a decade — will include a manufacturing district called The Forge, a research and technology park called Sonoran Oasis, and thousands of new residential units.

The development is part of a broader wave of growth around TSMC's campus. NorthPark, another master-planned community spanning roughly 7,000 acres, is also in the works nearby. TSMC recently acquired 900 acres to expand its own campus, and Arizona's Department of Transportation has started a $129 million freeway interchange project at Loop 303 and I-17 to support the influx of activity.

For Neighborhood Ventures, stories like this reinforce why we keep investing in Phoenix. The economic foundation being built here — driven by semiconductor manufacturing, job creation, and population growth — points to sustained housing demand for years to come. That's the kind of market we want to be in.