Where Is Greater Phoenix Actually Growing Next?

If a new Phoenix development with 100,000 new homes sounds too outlandish to be true you might want to buckle up for this one. Phoenix has expanded outward for decades, but the next wave of growth is even larger, and becoming easier to see. Follow the major employers, infrastructure and large tracts of undeveloped land, and see where the valley is in a position for massive growth over the coming years.

North Phoenix: TSMC Is Becoming Much Bigger Than Originally Planned

When TSMC selected North Phoenix in 2020, the project was initially a $12 billion semiconductor plant. Fast forward to today with 4 additional investment announcements, the company has expanded to a mind bending $265 billion in investments planned for the campus, more than 20x the investment originally planned.

The first factory began high-volume production in late 2024. The second is targeting production in the second half of 2027, while the third plant is expected to begin production by the end of the decade.

And TSMC isn’t even close to being finished from there. The latest investments announcement this summer includes fabrication plants numbers 4, 5 and 6, followed by four additional fabrication plants and packaging facilities after that.

While the initial 12 billion investment to the area was a big deal, the scale of the project now will now make it one of the largest and most advanced semiconductor manufacturing complexes in the world.

Halo Vista Is Starting to Fill in Around It

Immediately surrounding the TSMC campus, the $7 billion Halo Vista development officially broke ground in March 2026. The 2,300-acre project is planned for nearly 30 million square feet of industrial, office, retail, residential, hospitality and educational development.

The first stage is now focused on roads, utilities and site preparation. Costco, a 10 dealer auto mall and two Marriott hotels have already been confirmed.

Industrial development is also beginning, with plans for more than 780,000 square feet across seven buildings aimed largely at semiconductor suppliers and advanced manufacturers.

South of TSMC, the recently approved NorthPark plan adds another 6,354 acres that could eventually accommodate up to 15,150 homes in addition to commercial development and employment uses.

Desert Ridge & Mayo Clinic

The hot Northeast Phoenix area is a different type of growth story: there isn’t much land left, making the remaining parcels increasingly significant.

Last year Mayo Clinic announced a nearly $1.9 billion expansion of its Phoenix campus. The project will add approximately 1.2 million square feet, increase clinical space by nearly 60%, and is scheduled for completion in 2031.

Nearby residential development is filling in where it can. In April 2026, Blandford Homes acquired 293 acres at Deer Valley Road and 40th Street for $180 million, with plans for a new master-planned residential and mixed-use community in the Desert Ridge neighborhood.

Currently moving through the Phoenix approval process this year is Tellaro by K. Hovnanian, a 234-home site at Ranger Rd and 56^th Street, also a part of Desert Ridge community. This community is not huge in comparison to these other master planned communities, but will feature rare golf course frontage homes making them highly desirable options.

Buckeye: Growth on an Entirely Different Scale

On the West Valley side, Teravalis may be the biggest long-term growth story of all.

The first residents arrived in 2025, but this is just the beginning. The development encompasses approximately 37,000 acres (about 58 square miles) and is ultimately planned for 100,000 homes, with roughly 300,000 residents and 55 million square feet of commercial development.

For reference, that’s a larger footprint than the city of Miami, San Francisco, or Boston. Whoa.

This isn’t a five- or ten-year project. It is the type of development that will last 30-50 years, and being developed by a plethora of builders. A true city within a city.

Many will immediately think, “where will the water come from?” but that was figured out before the project was ever green lighted.  Arizona requires a 100-year assured water supply for any new development. In addition to Arizona’s already complex water infrastructure and diversified water sources, Teravalis is developing its own water complex including storage facilities and advanced water treatment systems that will reclaim 100% of the areas waste water.

The Bottom Line

The transformations taking place in these areas will be fascinating to watch over the next decade. With projects of this size bringing not only thousands of new homes, but also major employers, advanced industries, retail, infrastructure and supporting businesses, the impact will extend far beyond the developments themselves. These investments have the potential to reshape entire parts of the Valley and create new centers of employment and activity where very little existed before.

Phoenix has already experienced tremendous growth, but the scale of what is now underway suggests the region’s growth story is far from over.