About 7 miles south of a massive construction site where Taiwan Semiconductor Manufacturing Co., the world’s biggest chipmaker, is building three factories, one neighborhood is undergoing dramatic change.
The Golden Triangle — as at least one real estate developer calls it — occupies about a half-mile square in Phoenix, Arizona. It has about 100 houses, connected by mostly dirt roads. In addition to the human residents, many of whom moved there in search of a rural lifestyle, it’s home to horses, goats, cows, donkeys, chickens, bees and a 16-year-old tortoise named Crush.
One of many dirt roads in the Golden Triangle, a rapidly developing area in north Phoenix. (Maria Hollenhorst/Marketplace)
But the economy of the Golden Triangle is getting an overhaul. Three new apartment complexes, with a combined 852 units, have been approved for construction inside its borders. Developers and city officials say the housing is needed, in part, to meet demand driven by the semiconductor industry.
As part of our ongoing series “Breaking Ground,” about how federal government investment is changing the economy in complicated, invisible and contradictory ways, Marketplace looked at the impact of the CHIPS and …
See the full article on Arizona’s economic indicators, or, read more Arizona real estate investing news. Take your pick!
