In the not-so-distant future, the Phoenix West Valley will look dramatically different from how it does today, thanks to Arizona’s largest master-planned community: Teravalis.
The Howard Hughes Corporation recently broke ground on the 37,000-acre project of Teravalis, formerly known as Douglas Ranch, located in north Buckeye between the White Tank and Belmont mountain ranges. Strategically positioned in the pathway of growth, Teravalis is designed to meet the ongoing demand for quality housing in one of the nation’s fastest-growing cities. At final buildout, Teravalis is set to deliver 100,000 homes for nearly 300,000 residents, along with 55 million square feet of commercial real estate to be added over the next 50 years.
Our initial efforts will focus on attracting homebuyers — residents who are seeking an exceptional quality of life integrated into the beautiful Sonoran Desert landscape. Incorporating best practices from across our national portfolio to advance environmental priorities and technological innovations, Teravalis will follow our company’s commitment to sustainability, conservation and open spaces.
Phoenix projects to grow by 100,000 people annually over the next decade. With the construction of Interstate 11 projected to pump $30 to $60 billion into the region’s economy, Teravalis will provide vital commercial businesses and amenities for residents and employees in the area.
Teravalis aims to create 1.5 jobs for every home and have just as many commuters coming in on a weekly basis as we have going out. Our planning and development take a broad, cohesive view as we work closely with local stakeholders, including our partners JDM Partners and El Dorado Holdings, to responsibly meet the needs of our community and plan for long-term sustainable growth.
The grand opening of model homes will take place in 2025.
Heath Melton is president of the Phoenix Region for The Howard Hughes Corporation.
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