Upcoming Development Projects in Phoenix (2025)

Phoenix continues to solidify its position as one of the fastest-growing metropolitan areas in the country, attracting billions of dollars in new development across various sectors. With a pro-business climate, favorable tax policies, and an influx of corporate expansions, the Sunbelt region—especially Phoenix—is seeing unprecedented levels of investment. From large-scale industrial parks to mixed-use developments and massive infrastructure projects, the city is evolving into an economic powerhouse.

This rapid expansion is precisely why we at Comfort Capital have prioritized Phoenix as a key market, with 13 of our manufactured housing communities strategically located in the area. As new projects bring thousands of jobs to the region, the demand for workforce housing continues to surge, driving occupancy and attention to our MHCs. Below, we break down the most significant development projects shaping Phoenix in 2025.

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Halo Vista’s ambitious $7 billion mixed-use development project is planned for Northwest Phoenix. This site will feature a mix of commercial, residential, and industrial spaces – a combined 28,000,000 sq. ft. This development is designed to support and compliment the Taiwan Semiconductor Manufacturing Company’s new $65 billion manufacturing plant. Halo Vista aims to create a vibrant, self-sustaining community that integrates seamlessly with TSMCs operations, fostering innovation and economic growth. The first phase of this project broke ground in early 2025 with a focus on infrastructure development.

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Taiwan Semiconductor Manufacturing Company is the worlds largest chipmaker, and its making a significant investment into Phoenix. Not only did they originally begin with a $65 billion investment into the region, but this last month they announced an addition $100 billion investment in the area to build 3 advances semiconductor fabrication facilities. These facilities will create 25,000 new jobs, driving employment in Phoenix. This development is part of a broader strategy by TSMC to diversify its manufacturing away from Taiwan and into the US and fears continue to grow over a possible conflict with China.

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Intel Corp has been expanding its presence in the Phoenix MSA with a $32 billion development project to construct two new semiconductor fabrication plants. The project, initially started in 2021, is set to be fully finished by the end of 2025. Each fabrication plant will have large scale production facilities that will create 3,000+ high-tech jobs. To date, Intel Corp has spent over $50 billion investing into Arizona – with the goal to make it the semiconductor manufacturing hub of the world.

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Amkor Technology is a leader in semiconductor packaging and testing. As a result of all the semiconductor expansion by TSMC and Intel, Amkor has drafted plans to create a facility to pack these semiconductors. Slated to break ground in September, 2025, this $2 billion dollar packing plan will further solidify the Phoenix MSA as the semiconductor hub of America. With over 2,000 jobs being created this project will significantly boost Peoria’s economy. In additional, the US department of Commerce awarded Amkor an additional $407 million for this project.

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BNSF Railway Co, the largest railway company in the US with over 32,500 miles of freight network, recently broke ground to expand into Northwest Maricopa County. This $3.2 billion development will feature 1,770 acres of transfer hubs for railway shipments, a 1,420 acre logistics park providing a state-of-the-art freight warehouse, and a 1,131 acre logistics center to support local industries. This project was approved in December of 2024 with plans to commence construction in 2025 – with an end year of 2028.

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Mayo Clinic is undergoing a massive expansion into North Phoenix with its 120-acre Discovery Oasis Campus. This innovative biotech hub will create over 2,000 new jobs as well as create millions in economic benefit to the region. This project is envisioned as a multi-decade project taking place over decades. The $5 billion investment will help development high-tech labs, biomanufacturing facilities, and advanced biotech offices.

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Phoenix is experiencing a surge of transformative development projects, reinforcing its position as a major economic hub. Not only are the above developments taking place, but additional projects like The Metrocenter redevelopment will bring thousands of new housing units and retail spaces, revitalizing a key area of the city. Mattel Adventure Park in Glendale is set to become a major entertainment destination, while the South Central Light Rail Extension will improve connectivity across the metro. In Surprise, Elm Street at Surprise City Center will introduce new retail, dining, and hospitality options, enhancing the area’s growth.

These projects, along with many others, will bring thousands of jobs and increased demand for workforce housing—directly benefiting Comfort Capital’s 13 manufactured housing communities in Phoenix. As the city continues to expand, our communities are well-positioned to meet the growing need for affordable housing. Below, we break down some of the most impactful developments shaping Phoenix in 2025.

Read the full Phoenix Business Journal’s article “2025 Projects to Watch” to see even more developments taking place in Phoenix:

https://www.bizjournals.com/phoenix/news/2025/01/24/projects-to-watch-2025.html