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A Texas-based developer has proposed a 344-unit apartment complex near Interstate 17 and Dove Valley Road in north Phoenix, an area that is seeing explosive growth around the development of the Taiwan Semiconductor Manufacturing Co. campus.

TSMC’s campus is across the freeway from the apartment complex proposed by Trumont Group, a Dallas developer that also has a Scottsdale office.  The site totals about 20 acres, but much of it is not developable because of a wash that runs through the site, putting it in the Flood Hazard and Erosion Management District.