The city of Phoenix has proposed a 25-year development agreement for the $7 billion Halo Vista project near the Taiwan Semiconductor Manufacturing Co. (TSMC) complex. Developed by Mack Real Estate Group and McCourt Partners, the 2,300-acre project will include infrastructure, an auto mall, retail, office, and industrial spaces, with construction on the first phase beginning in 2025. The city plans to reimburse developers for infrastructure improvements, such as roads, water, and wastewater lines, using sales tax revenue generated by Halo Vista, with no direct impact on citizens’ taxes. Estimated infrastructure costs total $1.7 billion, but the city will reimburse far less over time, starting after phase one. The project is part of a larger 3,500-acre technology center anchored by TSMC’s $65 billion campus and a broader 12,000-acre master-planned area known as Biscuit Flats. At full buildout, Halo Vista and surrounding developments could create up to 70,000 jobs and nearly 30 million square feet of development.
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