Ambitious master-planned community, now called Teravalis, breaks ground in Buckeye
PHOENIX – Developers of an ambitious master-planned community in the West Valley held a groundbreaking ceremony last week.
The plans for Teravalis, previously known as Douglas Ranch, call for 100,000 homes and 55 million square feet of commercial development over 37,000 acres in Buckeye.
The community will have space for 300,000 residents, more than currently live in all but three Arizona cities (Phoenix, Tucson and Mesa). Buckeye’s present population is just over 100,000.
The development is located west of the White Tank Mountains and north of the developed portion of Buckeye. It sits along the future site of Interstate 11, which will connect Phoenix, Las Vegas and Southern California.
The long-brewing project is a partnership between The Howard Hughes Corporation (HHC) and JDM Partners.
“Initially, our efforts will focus on attracting home buyers, but ultimately our goal is to create a cohesive, integrated community where people not only live, but also work, play and discover,” Heath Melton, HHC Phoenix region president, said during Friday’s groundbreaking ceremony.
“Ideally, Teravalis will create one-and-a-half jobs for every home and have just as many commuters coming into the community as we have going out.”
JDM Partners, Phoenix sports mogul Jerry Colangelo’s real estate company, originally purchased the land in 2002.
“I spent a career in team building, and when you look at the players involved in this incredible effort, we have the right players,” Colangelo said during his turn at the microphone.
Buckeye Mayor Eric Orsborn said the community will emphasize renewable energy and water conservation efforts, which are city priorities.
“Teravalis will include retail, offices, health care and employment opportunities, creating new jobs and services for our residents and new revenue streams to the city” Orsborn said.
“And the best part of all, Teravalis will be an eco-friendly sustainable community.”