100,000-home Teravalis breaks ground in Buckeye

Real Estate | 14 hours ago |

The Howard Hughes Corporation has broken ground on Teravalis, a 37,000-acre mixed-use master planned community in Northwest Buckeye projected to include 100,000 homes and 55 million square feet of commercial development. Teravalis, previously known as Douglas Ranch, will become Arizona’s largest master planned community, addressing the demand for housing in one of the country’s fastest-growing metro regions and supporting long-term sustainable growth in the Southwest.

“In the game of states, people vote with their feet—and Arizona is winning. Since 2015, Arizona has welcomed over 584,000 new residents and we don’t expect that momentum to stop anytime soon,” said Arizona Governor Doug Ducey. “This increases the demand for housing opportunities and Howard Hughes is answering that call with this impressive community, providing quality housing options for current and future Arizonans.”


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Teravalis joins The Howard Hughes Corporation’s national portfolio of award-winning large-scale master planned communities—including Summerlin, NevadaThe Woodlands and Bridgeland in TexasDowntown ColumbiaMaryland; and Ward Village, Hawai’i—which are integrated into expansive natural settings and are consistently ranked among the country’s best places to live. Teravalis will follow the company’s established best practices in sustainability and conservation, emphasizing open public space and enhancing its natural environment.

“The name Teravalis means ‘land of the valley’ and this new community, situated between the White Tank and Belmont Mountain ranges, is firmly grounded in deep respect for its Sonoran Desert setting,” said Heath Melton, President of the Phoenix Region for The Howard Hughes Corporation. “Teravalis is designed as an authentic extension of the Phoenix West Valley’s natural landscape—a place of extraordinary beauty.”

Teravalis is strategically positioned in the pathway of Phoenix’s significant growth in the West Valley. Phoenix leads the country with 80% population growth in the past 10 years, including 100,000 tech workers and nearly 30,000 students graduating from the state’s largest universities each year.

“Teravalis is an eco-friendly, sustainable community which sets the bar high for other cities to model,” said Buckeye Mayor Eric Orsborn. “This innovative, smart community is a great asset for Buckeye, the West ValleyMaricopa County and the entire state of Arizona. Teravalis also provides our residents with more options to live, work and raise a family, while complementing the city’s goal of maintaining successful long-term growth.”

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The planned future construction of Interstate 11 will connect PhoenixLas Vegas, and Southern California, eventually establishing a trade route between Canada and Mexico. The new Interstate is projected to create $30 to $60 billion of economic impact in the region, with Teravalis’ location allowing logistics operations to take advantage of strategic supply chain access to and from the West Coast, furthering Arizona’s reputation as one of the nation’s top economic development performers.

“Today’s groundbreaking of Teravalis is an exciting moment for Arizona and for The Howard Hughes Corporation, as we create a new community from the ground up and HHC adds the next chapter to the legacy of the visionary placemakers who founded our communities in MarylandTexasNevada and Hawai’i,” said David R. O’Reilly, Chief Executive Officer of The Howard Hughes Corporation. “Teravalis joins these great American communities which offer an exceptional quality of life and will continue to define how we live and thrive for generations to come.”

The Howard Hughes Corporation plans to announce builders later this year, with a grand opening of Teravalis set for late 2024. For more information visit Teravalis.com, @teravalisaz/ Facebook and @teravalis/ TwitterInstagramTikTok, and LinkedIn.

 

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