Mack Real Estate Group has submitted an application to buy more than 2,300 acres of land at an Arizona State Land Department auction scheduled for May 29.
The site lies at the SWC of Carefree Highway and Interstate 17 and extends south and southwest to two points on the north side of Loop 303.
Other entities may bid in the auction if they choose. The minimum bid price has been set at $56.28M.
The site is adjacent to the Taiwan Semiconductor Manufacturing Company plant location, which has spurred massive amounts of supporting construction and development in recent years—from TSMC-affiliated suppliers to general industrial and logistics and all the way across the chain of project types to housing and retail.
The 2,300-plus acres were part of a 3,500-acre area zoned for development in 2020 under the name Sonoran Oasis Science and Technology Park. The TSMC site comprises 1,128 acres in that area. Those 3,500 total acres lie within a greater site known as Biscuit Flats, which totals 12,000 acres.
City of Phoenix officials say additional Biscuit Flats parcels could eventually be sold to developers and that the 2,500 acres MREG is considering will likely take between 10 and 20 years to reach full buildout.
MREG has not divulged its plans for the site and has not yet responded to media requests. The company has two other North Valley master-planned projects in development: Mack Innovation Park Deer Valley, also located near TSMC, and Mack Innovation Park Scottsdale at the Loop 101 between Princess Drive and Bell Road. (Source)
