Northern Parkway Logistics Center, on the west end of Glendale near the Loop 303 Corridor, secured $53.55 in construction financing. (CUSHMAN & WAKEFIELD, COURTESY)
By Richard Smith | YourValley
The pace of development announcements and construction surrounding Loop 303 in the West Valley is nearly occurring as fast as traffic on the freeway.
Goodyear laid the groundwork in the 2010s for the first Loop 303 development boom near the freeway’s terminus, and numerous name brand manufacturing and distribution centers landed in the city. Glendale followed suit, to a lesser extent.
Taiwan Semiconductor Manufacturing Co. began construction on its plant on Loop 303 just west of Interstate 17 in Phoenix, then announced an expansion in December, pushing its total investment in Arizona to $40 billion.
That has kicked off a second Loop 303 boom and cities nearby on the route, Peoria and Surprise in particular, stand to reap the benefits — and faster than those cities expected.
“I think the post-2020 economy has been one of acceleration in the West Valley primarily along Loop 303. The 303 has almost filled in overnight,” said Surprise Economic Development Director Jeanine Jerkovic. “We’ve had to accelerate our thought process as being part of a growing corridor. We’re having conversations today that I did not think we would be having until around 2030.”