What is a 1031 exchange and how does it defer taxes?

A 1031 exchange lets a real estate investor defer capital gains taxes by reinvesting the proceeds from the sale of an investment property into a like-kind replacement property. The deferral keeps full buying power intact, but the larger advantage is repositioning capital into a stronger market and a higher-quality, newer asset with a reset depreciation schedule.

How close is Norterra to the TSMC campus in North Phoenix?

Union Park at Norterra sits roughly 15 minutes from the TSMC semiconductor campus, about 10 minutes from the I-17 / Loop 101 employment corridor, and about 20 minutes from Deer Valley's logistics and industrial sector — placing it inside the commute radius most relocating semiconductor professionals search within.

Is North Phoenix a good market for rental property investment in 2026?

North Phoenix benefits from the TSMC build-out, strong in-migration, and limited single-family oversupply. While metro apartment rents softened in 2025 due to new apartment supply, single-family rentals in master-planned communities stayed more insulated, new apartment starts have fallen, and forecasts project Phoenix rent growth re-accelerating toward roughly 5% by 2027.

What are the 1031 exchange deadlines investors must meet?

Two IRS deadlines apply. Within 45 days of selling the relinquished property, the investor must formally identify replacement properties in writing. The replacement property must then close within 180 days of the original sale. Both timelines are fixed and run concurrently.

How much is TSMC investing in Phoenix and how many jobs will it create?

TSMC's planned U.S. investment has grown to roughly $165 billion — the largest greenfield foreign direct investment in U.S. history — with about $65 billion committed to its first three North Phoenix fabs. The Arizona operation is expected to create around 6,000 direct manufacturing jobs plus more than 20,000 construction jobs and tens of thousands of indirect roles this decade.

How a Strategic 1031 Exchange Near TSMC Positioned an Investor for Long-Term Growth in North Phoenix

by Eric Ravenscroft, CRS

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About the Author

Eric Ravenscroft is a Top 1% REALTOR® across North America and one of Arizona’s most trusted real estate strategists. With 15 years of experience spanning real estate, wealth management, and investment planning, he helps clients make smarter, financially grounded decisions, from new construction and relocations to STR investments, 1031 exchanges, and long-term portfolio strategy.

Eric’s expertise has earned him industry recognition, Elite status with Real Broker, and features in major publications including the Wall Street Journal, MarketWatch, MSN, and Morningstar. Clients across the Greater Phoenix Metro rely on his clarity, strategic insight, and results-driven guidance.

Ready to make a confident real estate move? Call or text Eric today.

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How a Strategic 1031 Exchange Near TSMC Positioned an Investor for Long-Term Growth in North Phoenix

by Eric Ravenscroft, CRS

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