Halo Vista: North Phoenix to Get $7 Billion 'City Within a City'

Plans are underway for a $7 billion development project billed as a "city within a city" in Phoenix, Arizona.

"Halo Vista," as it is now known, will surround a manufacturing complex developed by Taiwan Semiconductor Manufacturing Company (TSMC)—which is already under construction and is being developed by New York-based Mack Real Estate Group in collaboration with McCourt Partners.

"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, per 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."

The project will include 2,300 acres with more than 28 million square feet of mixed-use development capacity, with will include up to 8,960 residential units as well as industrial, retail, and office spaces.

"Our vision is for chip designers and engineering students, not just suppliers and manufacturers, to co-locate here, to create a value added ecosystem beyond just what it takes to build chips, and that's how we're going to create more value in the Phoenix economy," Mack said.

A further three plants are also planned for the Phoenix site, which could bring TSMC's total investment in the area to over $120 billion. Tech giant Apple has announced it will buy semiconductors from the fabrication plants.

The plants are anticipated to create 10,000 permanent jobs, and another 80,000 are expected to be created in the surrounding development.

"TSMC's Phoenix semiconductor fabrication campus is a tremendous economic driver with local, national, and global significance," said Mack after an affiliate of the firm won an auction for the development rights.

"TSMC is quite simply one of the most important companies in the world. TSMC produces the chips that allow for exponential innovation and for the continued development of artificial intelligence.

"Together with ASLD and McCourt Partners, we are privileged to help in the building of a new type of city that both supports and leverages the domestic and international digital transformation enabled by TSMC's new semiconductor manufacturing campus."

Article Originally publishes in Newsweek, authored by Joe Edwards.