Extended-stay hotel proposed minutes from TSMC’s Phoenix campus

A new extended-stay hotel has been proposed just minutes from the entrance to the TSMC campus in north Phoenix.

BY BRANDON BROWN/PHOENIX BUSINESS JOURNAL

Feb 20, 2026, 8:00 PM

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A new extended-stay hotel has been proposed to be built just minutes from the entrance to the Taiwan Semiconductor Manufacturing Co. campus in north Phoenix.

CaliberCos Inc. (Nasdaq: CWD), a Scottsdale-based real estate investor, developer and manager, confirmed to the Phoenix Business Journal it intends to build a 114-room Hyatt Studios Hotel on the northeast corner of Sonoran Desert Drive and 29th Avenue in Phoenix, which is just east of the intersection of Interstate 17 and the 303 freeway, according to documents filed with the city of Phoenix.

The hotel is proposed to be a four-story building.

If approved, the hotel will be built on land owned by Terrance Plas of Sonoran Desert Retail LLC. Plas acquired nearly 5 acres of land – 2.3 acres will be taken up by the Hyatt Studios Hotel – in 2023 for $3.6 million, according to Tempe real estate database firm Vizzda.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.