Apartment Market and Sales Insights
TSMC, as part of its $165 Billion investment, plans to expand holdings in North Phoenix – paving the initial need for more housing. The project, called North Park, is located directly south of TSMC’s current holding at I-17 and the 303, and will be in collaboration with PultyGroup. Subject to approval and acquisition of the State-owned land, the 6,400 acres would allow more than 15,000 new homes and apartments, retail, restaurants, commercial services plus business parks and offices. This acreage is part of the original 3,500 rezoned acres that also includes the Halo Vista project. Halo Vista is estimated to contain up to 30 million square feet of new development. These projects, plus more to come, will create JOBS for construction and operation employees that will increase population. It’s not rocket science, increased population will increase apartment rents and values.