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As a result, the fate of a massive science and technology park in north Phoenix is now in the hands of Mack Real Estate Group. The New York City-based firm spent $56.28 million to win the auction for prime acreage surrounding the Taiwan Semiconductor Manufacturing Co. complex being built in North Phoenix....As the winning bidder, MREG is required to invest hundreds of millions of dollars to initiate an estimated $1 billion worth of infrastructure improvements for the area including water, power and roads. Once certain requirements are met, the firm can then develop parcels or sell to other developers.