Best of Living in Scottsdale & Phoenix Arizona Newsletter
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😮 This is happening in Phoenix and we can't stop it...

😮 This is happening in Phoenix and we can't stop it...

Check out what's shaping Phoenix and Scottsdale's economy right now.

Josh Zuniga
June 13, 2024

Happy Thursday!

It’s a great time to be in Phoenix. Our economy is thriving with tens of thousands of new jobs, new businesses are coming to the area, and our education sector is ranking higher and higher.

This week we’re looking at a massive tech village coming to the area, how our public universities outranked Georgetown and Notre Dame, and why so many people are moving here.

Enjoy!

— Josh

💻 Phoenix's Growth Spurt: $7B Tech Village Plan

Driving the news: Mack Real Estate Group (MREG) and McCourt Partners have won the rights to develop a $7 billion master-planned mixed-use development on over 2,300 acres surrounding the Taiwan Semiconductor Manufacturing Corp. (TSMC) campus in Phoenix's North Valley.

Details: MREG spent more than $56 million to win the auction for the land, which will be known as Sonoran Oasis Science and Technology Park.

The development could include up to 8,960 residential units, as well as industrial, retail, and office space.

TSMC has committed $65 billion to its Phoenix campus, with a potential total investment of $120 billion.

The company is expected to create at least 10,000 permanent jobs, with up to 80,000 jobs created in the Phoenix MSA by the TSMC business ecosystem.

Why it matters: The influx of workers associated with TSMC's $65 billion investment in semiconductor fabs is expected to drive demand for commercial and residential development across various sectors in the region.

The big picture: Since 1987, Mack-related entities have invested in or developed more than 10 million square feet of properties in Phoenix.

What's next: Infrastructure work on the Sonoran Oasis Science and Technology Park could start as soon as 2025, with industrial uses expected on the western portion of the site and mixed-uses like multifamily, retail, and office space on the eastern section.

The bottom line: The MREG and McCourt Partners development surrounding the TSMC campus is set to become a significant economic driver for the Phoenix region, creating a "new silicon city" that will attract businesses and residents alike.

🎥 Inside a North Phoenix $365K Townhouse W/ Community Pool in AMAZING Location

Tour this $365K North Phoenix townhouse featuring 2 bedrooms, 2.5 baths, and a community pool.

Perfect for families and close to top amenities!

🏆 Arizona Universities Rank Above Georgetown and Notre Dame

Driving the news: Arizona's public universities have secured prominent spots on the QS World University Rankings 2025 list.

Arizona's universities are not only competing with top public institutions but also outshining some prestigious private universities like Georgetown University and the University of Notre Dame.

Details: The rankings included over 1,500 universities worldwide, with 197 from the U.S. Both ASU and UArizona have fluctuated in rankings over the past few years, while NAU has shown significant improvement since 2023.

Arizona State University (ASU): Ranked No. 200 globally, No. 38 in the U.S. Overall score 46.2/100, with a standout score in sustainability (96.3).
University of Arizona (UArizona): Ranked No. 293 globally, No. 49 in the U.S. Overall score 37/100, excelling in international research network (94.1).
Northern Arizona University (NAU): Ranked in the 1,001-1,200 range globally, No. 145 in the U.S.. Not specified overall, but highest in international research network (55.1).

Why it matters: These rankings prove the strong academic reputation and research capabilities of Arizona's public universities.

For local students and communities, this means access to high-quality education and enhanced opportunities for collaboration and innovation.

Between the lines: The rankings are based on various indicators such as academic reputation, citations per faculty member, employment outcomes, and international faculty ratio.

ASU and UArizona's strong performances in sustainability and international research reflect their global engagement and commitment to addressing key global challenges.

What’s next: These universities aim to leverage their rankings to attract more students, faculty, and research opportunities.

They are focused on continuous improvement to climb higher in future rankings.

The bottom line: Arizona's public universities are making their mark on the global stage, providing top-tier education and research opportunities that benefit students and the broader community.

🎥 DON’T MOVE to Las Vegas, Move to Phoenix Arizona INSTEAD

If you live in Phoenix, you might be surprised by some of the reasons I rank it above Vegas… And if you don’t live in Phoenix yet, you definitely need to watch this video.

☀️ Why Phoenix is America’s New Retirement Haven

Driving the news: Phoenix is becoming a top relocation destination in the U.S., ranking No. 7 nationally in a recent PODS Enterprises report on moving trends.

Details: The report showed Phoenix's increasing appeal with a significant rise from No. 18 in 2023.

Most new residents in Phoenix are retirees, specifically those over 65, followed by the 55-64 age group.

Phoenix's attractiveness extends to businesses, with Iron Mountain identifying it as a prime city for company relocations.

Why it matters: Phoenix's high ranking as a relocation hotspot is directly correlated with the economic and demographic growth the area has seen recently.

The influx of retirees and businesses contributes to a thriving, diverse economy and lifts the region's infrastructure and quality of life.

The big picture: Phoenix's growth is part of a broader trend of Sun Belt cities gaining popularity due to their favorable weather and lifestyle.

The region's business-friendly environment, supported by robust infrastructure like Sky Harbor International Airport and extensive highways, makes it an appealing choice for individuals and companies.

What’s next: As Phoenix and its surrounding areas continue to attract new residents and businesses, the region will likely see further economic development and infrastructure improvements.

The bottom line: Phoenix's rising popularity as a relocation destination is no surprise when you think about the favorable living conditions, economic opportunities, and strategic infrastructure.

📊 Market Insights

The housing market in Phoenix is HOT as we hit the peak summer months.

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.