2nd homebuilder opens model homes at massive Teravalis development in Buckeye

Lennar announced that it has opened model homes at Teravalis, a 37,000-acre community currently under construction in the West Valley.

BY JEFF VINTON

Sep 22, 2025, 11:24 AM Updated: 11:42 am

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PHOENIX — More model homes are opening for prospective buyers to tour at a massive master-planned community in the West Valley.

Florida-based homebuilder Lennar announced Friday that it has opened model homes in Teravalis, a 37,000-acre community currently under construction in Buckeye.

The homes will be located in Floreo, Teravalis’ first village, which is scheduled to officially open in November.

“Lennar is excited to be part of the early success at Teravalis and to offer new homes tailored to today’s buyers,” Lennar Arizona Division President Alan Jones said in a press release.

The company will offer eight floor plans, all of which have either three or four bedrooms and range between 1,232 and 2,227 square feet.

Starting costs for the homes are under $400,000, according to Lennar’s website.

Lennar follows Denver-based Century Communities Inc. in opening model homes at Teravalis, as Century Communities began offering tours of homes last month.

Amenities available at Floreo, Teravalis’ first village

More than 8,000 homes are planned to be built in the Floreo portion of Teravalis by seven companies, including Lennar and Century Communities.

The area will also feature more than 30 miles of paths and trails, at least seven community parks and a 22,000-square-foot community center, which is scheduled to open in 2027.

“This location represents the best of Arizona living — natural beauty, thoughtful planning and a strong sense of community,” Jones said. “We’re proud to be helping bring that vision to life.”

A grand opening, called Floreo Fest at Teravalis, will be held on Nov. 15.

Teravalis set to become largest master-planned community in Arizona

Construction on Teravalis, which is being developed by the Texas-based Howard Hughes Holding Inc., began in October 2022.

The company purchased the land, previously known as Douglas Ranch, from JDM Partners in 2021.

JDM is owned by Phoenix sports mogul Jerry Colangelo and maintains a stake in the project.

Plans for Teravalis include the construction of 100,000 homes, which would be capable of housing about 300,000 people, along with 55 million square feet of commercial development.

If that comes to fruition, then Buckeye would become Arizona’s fourth-largest city, behind Phoenix, Tucson and Mesa.

The Teravalis community is located off of Sun Valley Parkway, west of the White Tank Mountains and north of the currently-developed portion of Buckeye. It is also along the planned Interstate 11 corridor.