Sprawling Teravalis master-planned community in Buckeye adds another homebuilder

PHOENIX — Another company has joined the list of homebuilders working to create the sprawling Teravalis master-planned community in Buckeye.

New Home Co. became the sixth company building houses in Floreo, which will be Teravalis’ first village, developer Howard Hughes Holdings Inc. announced Monday.

“We’re excited to partner with Howard Hughes, a nationally acclaimed community builder, and help bring their vision for Teravalis to life over the coming years,” Eric Montgomery, an executive with New Home Co., said in a press release.

Brightland Homes, Century Communities, Courtland Communities, KB Home and Lennar have already been building homes in Floreo, which is slated to open next year and grow to more than 8,000 residences over the next decade.

“Innovation and sustainability are at the forefront of our shared approach to expert community building as we work with our homebuilder partners to bring much-needed housing to the rapidly growing Phoenix West Valley — and deliver the outstanding quality of life that Howard Hughes communities are known for,” Charley Freericks, the real estate developer’s Phoenix region president, said in the release.

How big will Teravalis be?

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 the West Valley.

A groundbreaking ceremony for the ambitious project was held in October 2022.

The community will have space for 300,000 residents, which would turn Buckeye into Arizona’s fourth-largest city behind Phoenix, Tucson and Mesa.

Teravalis is located west of the White Tank Mountains and north of the developed portion of Buckeye, along the planned Interstate 11 corridor.

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