Taiwan Semiconductor Manufacturing Co. was the winning bidder during a recent Arizona State Land Department auction, with a bid of $197.25 million. TSMC plans to expand its campus on the newly acquired land, which spans approximately 900 acres.

TSMC is building a $165 billion plant in North Phoenix. Its N4 technology chips are expected to be ready late in 2024. The construction of such a large factory has spurred widespread development across the north Phoenix area.

NorthPark is one master-planned community in the area, while Halo Vista is another that is further along. The developers behind Halo Vista recently announced its first users will be a new Costco location and two Marriott hotels.

NorthPark will span roughly 7,000 acres and bring thousands of new housing units to the area. It will include multiple land use districts, including industrial, where TSMC plans to expand its plant.