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OAN Staff James Meyers
1:40 PM – Tuesday, October 29, 2024
A new $7 billion development project called a “city within a city” is entering the planning stages in Phoenix, Arizona.
The new hub, dubbed “Halo Vista,” will be built around another manufacturing complex developed by the Taiwan Semiconductor Manufacturing Company (TSMC), and it is already underway.
The highly-touted complex is being developed by Mack Real Estate Group in collaboration with McCourt Partners. Both groups are New York-based.
“TSMC has elected to spend $65 billion here, and that could go to $120 billion,” said Richard Mack, CEO of Mack Real Estate Group, at a launch event, as reported by the Arizona Central.
“As historic as this is, it’s maybe just the beginning.”
Mass production at the Taiwanese company’s first Arizona plant is reportedly set to begin early in 2025.
“I really hope people understand this is a community we are trying to develop, and not any one thing,” Mack said at the event.
“It’s not just a science park, and not just a manufacturing district: It’s a community. It’s a city within a city.”
Halo Vista could expand across nearly 30 million square feet (1.07 square miles) of buildings, including hotels, residential living and educational facilities.
To get it started, developers bought the land at an Arizona State Land Department auction in May. It borders the land surrounding the TSMC facility on three sides, creating the eponymous “halo,” said Jordan Lang, president of McCourt Partners.
Last week, Lang announced two sub-areas planned to be built on-site: the Forge, which will be the primary manufacturing zone, and the Sonoran Oasis Research and Technology Park, which will be the science hub focused on research, development and engineering.
Meanwhile, local area leaders, including Phoenix Mayor Kate Gallego, celebrated the new project.
“This is a chance to bring together business partners of TSMC,” Gallego said.
“Because we can do it on such a large scale, we have more planning tools. Most large cities can only develop smaller parcels at a time, so you can’t have a big vision.”
However, Gallego did mention two challenges to the massive project, incorporating available technology and innovation “while keeping sustainability,” which includes water conservation and renewable energy.
Furthermore, TSMC Arizona president Brian Harrison emphasized that the scale and scope of the new facility and Halo Vista will create new opportunities for the Phoenix area, and possibly the rest of the U.S.
“I knew that it was going to create this renaissance of the semiconductor industry in the United States, and it could happen right here in Phoenix,” he said.
“I knew that there was a possibility of having this science park surrounding us.”
Furthermore, the plants are expected to create 10,000 jobs, and another 80,000 expected to be introduced in the surrounding development.
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