A New York City developer is eyeing more than 2,300 acres surrounding the $40 billion Taiwan Semiconductor Manufacturing Co. campus in Phoenix for the buildout of a massive technology and science park reminiscent of Silicon Valley or Hsinchu Science Park in Taiwan.
Mack Real Estate Group LLC, which has a large presence in Phoenix, is expected to bid on an Arizona State Land Department auction for the massive site, which is scheduled for May 29 [land.az.gov] with a starting bid at $56.28 million, or about $24,000 an acre.
The developer in 2022 filed an application for an auction through Biscuit Flats Dev LLC, an entity connected to MREG, for the site located north of Loop 303, west of Interstate 17 and adjacent to TSMC.
The winning bidder is required to build out the infrastructure to support development for a master-planned employment and business park through a contract with the state, among other requirements. Bidders will also be required to submit a questionnaire to demonstrate experience and qualifications.
