A joint venture plans to create a mixed-use development surrounding a semiconductor fabrication campus in Phoenix.
Halo Vista has been selected by a panel of local industry professionals as the winner of the 2025 CoStar Impact Awards for sale/acquisition of the year for Phoenix.
New York-based Mack Real Estate Group secured the development rights for 2,300 acres at an Arizona state auction for $56.28 million. The land surrounds a $65 billion semiconductor fabrication campus owned by Taiwan Semiconductor Manufacturing Co. McCourt Partners, based in Los Angeles and New York, is partnering with Mack Real Estate Group on the project.
The mixed-use development, named Halo Vista, is expected to cost more than $7 billion, according to McCourt Partners. Plans for the project include the creation of more than 28 million square feet of commercial, residential and industrial space.
TSMC's Arizona campus was first announced in May 2020, and the company has since invested more than $65 billion toward the construction of three semiconductor fabrication facilities at the Phoenix site, making it the largest foreign direct investment in the state's history, according to TSMC. The chip manufacturer estimates the campus will create about 6,000 jobs in the Phoenix area when the site is fully operational and potentially tens of thousands of indirect supplier jobs.
Earlier this month, TSMC announced that it arranged a deal with the Trump administration to invest an additional $100 billion toward the development of advanced semiconductor manufacturing in the United States to address the advancements in artificial intelligence technology.
About the project: Mack Real Estate Group worked with the city of Phoenix to master plan the future development. The developers plan to build Halo Vista in phases. Some of the features currently planned for the development include The Forge, a manufacturing district; the Sonoran Oasis Research and Technology Park for engineering and research; an auto mall; and spaces for retail, hospitality and residences.
What the judges said: "This was a massive takedown. Incredibly complex. Will be a game-changing property for North Phoenix for years to come," said Steven Schwarz, founding partner with ViaWest Group.
Another judge noted that the transaction marked the largest industrial sale in Phoenix for 2024.
They made it happen: Richard Mack, CEO, Mack Real Estate Group; Craig Henig, managing director, Mack Real Estate Group; Randy Torres, managing director, Mack Real Estate Group; Jordan Lang, president, McCourt Partners; David Smetana, chief financial officer, McCourt Partners; and Serge Demerjian, managing director of development, McCourt Partners.