P
ulteGroup is planning a massive 6,355-acre master-planned neighborhood with over 19,000 homes in North Phoenix. The Atlanta-based developer has filed plans for a Planned Unit Development on state trust land south of the Taiwan Semiconductor Manufacturing (TSMC) campus, which will be sold at an upcoming auction. PulteGroup aims to build a mixed-use project called NorthPark, featuring single-family homes and apartments.

    The site is bounded by Loop 303, Interstate 17, and the Central Arizona Project canal, making it highly desirable for development. However, there's limited land available near TSMC, with Miami-based Lennar having recently acquired the last private parcel in the area. Lennar's Middle Vista project has already sold 165 homes out of 228 units.

    RL Brown's Jim Daniel estimates that it will take three to four years before any homes are built on the state land parcel coveted by PulteGroup, citing the complexity and time required for development. In contrast, nearby Northpointe at Vistancia is expected to be completed with 3,200 homes in the near future.