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Phoenix & Southwest  + Phoenix  + Apartments  | 
348-unit rental community going in near TSMC plant in N. Phoenix

TMSC-Effect Causing N. Phoenix Building Boom

In Austin, Texas it’s being called the Tesla-effect; a significant about of construction activity near the $10 billion manufacturing plant. A similar situation is occuring near the under-construction $40 billion Taiwan Semiconductor Manufacturing Company plant in North Phoenix. Dozens of noteworthy housing, retail and industrial projects have launched within miles of the plant.

The latest…JLL Capital Markets has secured $62.625 million in construction financing for Meritum Sonoran Desert, a 348-unit, garden-style multi-housing development in Phoenix. JLL worked on behalf of the borrower, IDM Companies, to secure the loan through a life company. The project is located less than three miles from the Taiwan Semiconductor manufacturing facility.

With an anticipated completion in 2025, the project is IDM’s second multi-housing development in the North Phoenix area. A JLL Capital Markets Debt Advisory team was led by Kevin MacKenzie.


Inside The Story

IDM CompaniesKevin MacKenzie

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development
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