The Howard Hughes has broken ground on a 37,000-acre mixed-use community at Phoenix West Valley in Arizona, US.
Called as Teravalis, this project is estimated to feature 100,000 homes and 55 million ft2 of commercial space.
Teravalis, earlier called Douglas Ranch, is expected to become the largest master planned community in Arizona, and also meet the housing demand in the region.
The Howard Hughes president of the Phoenix Region Heath Melton said: “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.
“Teravalis is designed as an authentic extension of the Phoenix West Valley’s natural landscape—a place of extraordinary beauty.”
Teravalis is strategically located at the West Valley in Phoenix, which leads the country with 80% population growth in last 10 years.
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By GlobalDataBuckeye Mayor Eric Orsborn said: “This innovative, smart community is a great asset for Buckeye, the West Valley, Maricopa 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.”
This project lies near the new Interstate 11 that links Phoenix, Las Vegas, and Southern California.
The new Interstate is estimated to create $30bn to $60bn of economic impact in the region, with the project’s location enabling logistics operations to benefit from strategic supply chain access to and from the West Coast.
The company plans to announce builders later this year, with the opening of Teravalis scheduled for late 2024.
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Image: Conceptual rendering of Teravalis community entrance. Credit: The Howard Hughes Corporation via PRNewswire.
