Land Auction Paves Way for $7B North Phoenix Mixed-Use Project

Biscuit Flats Dev LLC, an affiliate of Mack Real Estate Group (MREG), won the auction to acquire development rights for over 2,300 acres of land next to Taiwan Semiconductor Manufacturing Corporation’s (TSMC) campus in Phoenix’s North Valley. This land, fully entitled, will host a $7+ billion mixed-use development spanning more than 28 million square feet, including up to 8,960 residential units, and industrial, retail, and office spaces. MREG, partnering with McCourt Partners, paid $56.28 million at the auction and will oversee land sales and infrastructure improvements, with work expected to begin in 2025. This development aligns with TSMC’s $65 billion investment in its expanding facilities, enhancing the area’s role as a major employment and innovation hub.

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Source: ConnectCRE

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