Valley Project Developer Purchases 2,300 Acres Near TSMC
The vision for the future science and technology employment hub on state trust land adjacent to Taiwan Semiconductor Manufacturing Company’s silicon chip plants under construction, is inching forward, as 2,340 acres were just auctioned off to a real estate firm with a national development and investment footprint, including a major presence in Phoenix.
Biscuit Flats Dev LLC, an affiliate of Mack Real Estate Group, was awarded the bid for the land at the state auction on May 29 for $56.2 million. Mack Group will be responsible for the development of the roads, water/sewer infrastructure, dry utilities and drainage infrastructure, according to the State Land Department.
The future Sonoran Oasis Science & Technology Park is a mixed-use development of more than 28 million square feet, including up to 8,960 residential units, along with industrial, retail, and office space, according to a press release from the developer. The commercial park is being developed between the southwest corner of I-17 and Carefree Highway and the northwest corner of I-17 and Loop 303.
Mack Group has two other North Valley master-planned projects in development: Mack Innovation Park Deer Valley, also located near TSMC, and Mack Innovation Park Scottsdale.
“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,” said Richard Mack, CEO of Mack Group. “We hope that this new silicon city will serve as a model for public-private cooperation, to not only bring back high-tech manufacturing jobs to the U.S., but also to create the live/work environments of the future,” he added.
McCourt Partners is a real estate development, investment and management firm with a portfolio of innovative development projects both in the United States and internationally.
By Karen Goveia
editor@valleyvibenews.com