Banner Health paid $22.13 million for 18.8 acres near the $165 billion TSMC factory in north Phoenix. The nonprofit hospital giant will now be in the center of what is becoming the city’s most talked-about growth area.
Banner Health operates Banner–University Medical Center Phoenix and lists 33 hospital locations across six states on its website.
To illustrate how heated the area is becoming, the price Banner paid per acre was considerably higher than the amount the chipmaker paid, about $197.25 million for roughly 900 acres in north Phoenix. Banner paid more than five times the price per acre that TSMC did for its factory site.
The area falls into the North Park area plan, which will span roughly 7,000 acres and bring all types of commercial development. Commercial entities, such as Marriott hotels and a Costco, have already announced their intent to build in the area.
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