Happy Thursday!

Ready for another update on the major developments actually coming to our area?!

Phoenix is planning to build a "City Within a City," Halo Vista, a massive development spanning nearly 690 acres! And West-MEC isn’t far behind, with plans for a $13.5 million expansion to train even more technicians in Phoenix!

We're also looking into how the real estate market has already begun to change just over a week after the elections.

Enjoy!

— Josh

🤩 Phoenix Rising: Inside the $7 Billion
Halo Vista Project

Driving the news: A massive $7 billion project, Halo Vista, is poised to transform Phoenix into a bustling hub of innovation and community living.

Spearheaded by Mack Real Estate Group and McCourt Partners, the development will surround Taiwan Semiconductor Manufacturing Company’s (TSMC) ongoing manufacturing complex.

Details:

• Size and Scope: Spanning nearly 30 million square feet, Halo Vista will feature hotels, residential areas, and educational facilities.
  

• Key Zones:

  • The Forge: A manufacturing hub linked to TSMC’s operations.

  • Sonoran Oasis Research and Technology Park: Focused on science, research, and engineering.
    

• Land Acquisition: The developers secured this expansive land in May through an Arizona State Land Department auction.
  

• Jobs Created: The development promises 10,000 permanent jobs in the plant and 80,000 more in the surrounding community.

Why it matters: Halo Vista represents a historic opportunity for Phoenix to emerge as a center for semiconductor innovation and community growth.

With TSMC’s commitment to investing up to $120 billion, this project is set to bring new economic vitality to the area.

Locals stand to benefit from expanded job prospects, improved infrastructure, and a sustainable, tech-forward urban design.

The big picture: Phoenix Mayor Kate Gallego highlighted the project’s unprecedented scale, enabling comprehensive planning that integrates sustainability.

Halo Vista is uniquely positioned to harness renewable energy and prioritize water conservation while setting a benchmark for large-scale urban projects.

What’s next: Developers are laying the groundwork for residential developments near Interstate 17, with mixed-use spaces anticipated.

Additional plans will unfold as the project progresses, aiming to meet the high-tech and sustainability challenges identified by city leaders.

The bottom line: Halo Vista isn’t just a development—it’s a transformative step for Phoenix, promising economic growth, community building, and global recognition as a tech and innovation hub.

🎥 Intel's $20 Billion Investment Coming to Arizona!

In today's video, I'll be taking you through everything we know so far about Intel's $20B investment and its two microchip factories coming to Chandler, AZ!

🚧 West-MEC Invests $13.5M in Phoenix Campus Expansion

Driving the news: Western Maricopa Education Center (West-MEC) is making a bold investment in the future of technical education with a $13.5 million expansion at its northeast campus in Phoenix.

This project promises to enhance opportunities for students pursuing careers in advanced manufacturing, welding, and electric vehicle (EV) technology.

Details:
The expansion includes:

• A 16,500-square-foot advanced manufacturing and welding facility with state-of-the-art labs and a cleanroom.
  

• A dedicated 2,000-square-foot EV bay equipped for hands-on instruction and vehicle lifts.
  

• Upgraded equipment and increased capacity to serve more students.

This facility will be located at 1617 W. Williams Dr. and is expected to be completed before the 2025-26 school year.

Why it matters: For the Phoenix area, this project means a stronger pipeline of skilled workers ready to meet the growing demand in high-tech industries.

It creates local opportunities for students while addressing workforce gaps in fields like EV technology and advanced manufacturing, industries critical to the region’s economy.

The big picture: West-MEC, a leader in career technical education, serves over 37,000 students across 49 high schools in the northern and western Phoenix metro area.

With this expansion, the district reaffirms its commitment to providing cutting-edge resources and preparing students for in-demand careers in rapidly evolving industries.

What’s next: As construction progresses, West-MEC is also looking ahead to future expansion projects.

Superintendent Dr. Scott Spurgeon highlights this effort as part of a broader strategy to sustain West-MEC’s position as a premier career technical education provider.

📦 2024 Election Sparks Wave of
Relocation Plans

Driving the news: A Redfin survey conducted days after the 2024 election shows that 22% of Americans are considering relocating, with more than one-third eyeing destinations abroad.

Democrats, young adults, and renters are leading the charge, citing political and economic motivations.

Details:

• Who’s moving:

  • 28% of Democrats are more likely to relocate compared to 16% of Republicans.
    

  • Young adults aged 18–34 are the most mobile group, with 34% considering a move.
    

  • Renters (29%) and lower-income earners (27%) are the most inclined to pack up.
    

• Where they’re going:

  • 36% of potential movers are looking beyond U.S. borders, with Canada and the UK as top destinations.
    

  • 26% are considering a new state, while 12% favor a different metro area within their state.
    

• Homebuying on hold:

  • 25% of first-time buyers delayed purchasing until after the election, with 16% waiting to see if Trump’s housing policies would improve affordability.

Why it matters: The election’s political polarization has driven many to seek alignment with communities that share their values. Economic factors, including housing affordability, are also playing a pivotal role.

For local economies, this trend means potential shifts in housing demand and community demographics.

What’s next: With moving plans unfolding, expect noticeable shifts in real estate trends, especially in urban areas and states popular with expatriates.

Local governments may need to adapt to incoming populations or accommodate departures.

The bottom line: The 2024 election has not just shaped the country’s political future but also where and how Americans want to live, reflecting both their aspirations and frustrations.

📊Market Insights

The housing market in Phoenix is still competitive as we approach enter the final stretch of the year.

If you are looking to buy a home in this market, new construction is a great option that I highly recommend if you want to avoid competing with other offers.

You’ll want to have a good search and offer strategy when looking for existing homes and be patient because it could take a while to find the right one at your desired price point.

📰 In other news

• 50-acre mixed-use campus proposed in north Phoenix
  

• Phoenix still a top 10 real estate market to watch going into 2025
  

• Startup turns mining waste into critical metals for the U.S.

That’s all for today, I hope you have an incredible week!

If there’s ever anything you need:

• a custom market or home value report

• a home services list for a reliable contractor or services professional

• feedback or a professional opinion on a home project

Just let me know! I’m here to help with all your home needs.

Talk soon,

Josh Zuniga