A Valley developer bought 130 acres near Taiwan Semiconductor Manufacturing Co.’s north Phoenix campus to build an auto mall.
De Rito Partners, a developer headquartered in the Salt River Pima-Maricopa Indian Community near Scottsdale, paid $67.38 million for the land, according to real estate database Vizzda. The site is part of Halo Vista, a 2,400-acre master-planned community that surrounds the northern part of TSMC’s $265 billion campus on three sides near Loop 303 and 43rd Avenue.
Seven dealerships have already committed to the auto mall project. Courtesy Automotive Group, Berge Auto Group, Bill Luke Automotive, Potamkin Automotive, Findlay Automotive Group, Sands Automotive Group and Coulter Automotive Group will all have locations in the project,
with Findlay buying two of the 11 total lots. Three lots remain available.
The auto mall deal has been in the works for nearly a decade, with planning beginning before TSMC announced its Phoenix campus in 2020.
“In 2017 we sat down with the City of Phoenix’s economic development leadership and city staff, and they said north Phoenix was going to need this,” Marty De Rito, CEO of De Rito Partners, said in a statement. “Nine years later, approximately 75,000 people are coming out here to work, and they are going to buy cars.”
De Rito Partners will complete the infrastructure work and site preparation for the dealers, who will then build their dealerships, Nereyda Lopez, marketing director for De Rito Partners, said. The company also developed the Chandler 202 auto mall and other commercial projects around the Valley, including the Pavilions at Talking Stick and Mesa Riverview, which includes a shopping center and car dealerships.
The first dealerships at the auto mall are expected to open in 2028. It will be among the first commercial developments to open in Halo Vista. Work is expected to start this year on an 11-acre retail and hospitality development called the Shops at Halo Vista, which will include a 253-room hotel, restaurants and retail. Costco will buy land adjacent to the Shops at Halo Vista and will develop a warehouse store.
The first phase of industrial buildings will begin construction this year. It will include seven buildings totaling roughly 780,000 square feet, but the site will eventually include about 2.5 million square feet of new industrial buildings.
Mack Real Estate Group and McCourt Partners are the master developers of Halo Vista, which is expected to cost about $7 billion to develop. At full buildout, Halo Vista will contain 30 million square feet of new development, including up to 8,960 residential units.
Halo Vista is divided into multiple sub-areas for development, which will concentrate complementary uses.
The sub-areas include:
- The town center with residential development planned to have nearly 9,000 apartment units, hospitality and dining.
- Lumen Square, planned for retail and hospitality, including the auto mall and other commercial development on the northeast corner of the site.
- The Forge, which will include a technology district and an innovation park for industrial, manufacturing and research uses.
- The Sonoran Oasis Research and Technology Park, which will accommodate research and office spaces for research and workforce development.
Corina Vanek covers development for The Arizona Republic. Reach her at cvanek@arizonarepublic.com. Follow her on X @CorinaVanek.
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This article originally appeared on Arizona Republic: Developer pays $67 million for north Phoenix auto mall near TSMC
