Photos courtesy of Lennar
The area is on the verge of a housing surge as homebuilders prepare for an influx of workers due to the expansion of the Taiwan Semiconductor Manufacturing Co. (TSMC) plant in North Phoenix.
The plant is expected to generate thousands of new jobs, prompting developers to accelerate their building plans to meet the anticipated housing demand.
Lennar Corp., a Miami-based homebuilder, is planning to construct over 700 homes in the area. Their Middle Vistas community, situated near Interstate 17 and Dixileta, has already garnered interest from TSMC employees. Lennar is also expanding its offerings in the area with versatile housing designs suitable for multi-generational families.
In addition to Lennar’s efforts, Brookfield Properties is preparing to develop 6,000 acres of state land located east of Interstate 17 and west of Tatum Boulevard. This strategic move aims to capitalize on the strong housing demand driven by job growth in the region.
Mattamy Homes is another major player actively building in proximity to the TSMC plant. The company has seen notable sales to TSMC employees in North Phoenix. Furthermore, Mattamy Homes is exploring nearly 1,500 additional lots in key areas to attract employees from TSMC and its suppliers.
Despite a rise in home prices, with the median sales price in metro Phoenix now at $450,000, the job growth from TSMC is fueling a robust housing market. Realtors are already assisting many people relocating to the area for employment at TSMC, underscoring the plant’s significant impact on local real estate trends.
The aggressive land acquisition and development strategies by homebuilders highlight the substantial demand for housing in Phoenix. As the TSMC plant’s operations expand, the region is poised for considerable growth, driven by the semiconductor industry’s presence and the resulting economic boost.
