$7 Billion Urban Project: Major 'City Within a City' Development Set for Phoenix

$7 Billion "City Within a City" Planned for Phoenix

Source: New York Post

Overview of Halo Vista

• The proposed development is named Halo Vista.
• It will be constructed around a manufacturing complex by Taiwan Semiconductor Manufacturing Company (TSMC).
• The project is in collaboration with Mack Real Estate Group and McCourt Partners, both based in New York.

Key Details of the Project

• The development is projected to cost $7 billion and span nearly 30 million square feet, equivalent to 1.07 square miles.
• It will include various amenities such as hotels, residential areas, and educational facilities.
• The land for Halo Vista was acquired through an Arizona State Land Department auction in May 2024.

Economic Impact

• The project is anticipated to create 10,000 permanent jobs directly and an additional 80,000 jobs in the surrounding area.
• TSMC's investment in Arizona could reach up to $120 billion in total.

Sustainability and Community Focus

• Developers emphasize that Halo Vista aims to integrate sustainability with innovation, focusing on water conservation and renewable energy.
• Local leaders, such as Phoenix Mayor Kate Gallego, support the project for its potential to foster partnerships among businesses and drive growth.

Future Developments

• A primary manufacturing area, called The Forge, and a Research and Technology Park, termed Sonoran Oasis, are planned to enhance research and development within the community.
• Additional land developments and zoning adjustments are still under consideration for further expansion.