In the year 2000, the city of Buckeye had a population of approximately 6,500 people. Today, it is approaching 120,000. By 2040, estimates suggest Buckeye could be home to more than half a million residents. No single project will shape that growth more than Teravalis.
At 37,000 acres, Teravalis is not just a neighborhood. It is a city within a city, planned to house 300,000 people in 100,000 homes with 55 million square feet of commercial development. To understand what this means for homeowners, investors, and the broader region, you have to look beyond the first village and imagine the decades ahead.
The Scale of the Vision
Teravalis will be larger than The Villages in Florida, currently the nation's largest master-planned community. It is larger than Howard Hughes' own Summerlin in Las Vegas and The Woodlands near Houston. At full buildout, it will contain more than 43 Central Parks worth of land.
But size is not the point. The point is integration. Teravalis is designed as a complete community where residents can live, work, shop, learn, and play without leaving the master plan. That integration is what creates lasting value and what distinguishes a Howard Hughes community from a typical subdivision.
Economic Engine
The 55 million square feet of commercial space planned for Teravalis represents a massive economic commitment. This is not strip mall retail. It is employment centers, medical facilities, corporate campuses, and mixed-use districts. As the semiconductor industry expands in Arizona, with TSMC, Intel, and Amkor driving demand for skilled workers, Teravalis will provide the housing and lifestyle infrastructure to attract and retain that workforce.
Buckeye Mayor Eric Orsborn has described Teravalis as a "cornerstone of our city's future." The project will generate thousands of construction jobs in the short term and tens of thousands of permanent jobs at full buildout. Property tax revenue from Teravalis will fund schools, roads, and public safety for the entire region.
Transportation & Infrastructure
As Teravalis grows, so will the transportation network connecting it to the broader Phoenix metro. The community is positioned approximately 15 minutes from Interstate 10, with Sun Valley Parkway providing a direct corridor. Future road improvements, potential transit expansion, and the ongoing development of the Loop 303 freeway will all improve accessibility over time.
Howard Hughes has also committed to innovative water conservation measures, including stormwater harvesting, wastewater reuse, and drought-tolerant landscaping. In a state where water sustainability is central to every growth conversation, these investments protect both the environment and the long-term viability of the community.
Schools & Education
Today, Teravalis falls within the Buckeye Elementary School District and Buckeye Union High School District. As the population grows, new schools will be needed. Howard Hughes has indicated it will work with the district to support school bond efforts and plan for future campuses within the community. Arizona's robust school choice environment also means charter and private options will likely emerge to serve Teravalis families.
Phased Development Timeline
Howard Hughes has decades of experience with phased master plans, and Teravalis follows that model. Floreo, the first village, represents roughly 10 percent of the total community. Future villages will bring apartments, townhomes, senior living, and additional single-family neighborhoods. Each phase will be timed to market demand, ensuring supply does not outpace absorption.
This phased approach protects early buyers. It prevents the oversupply that can depress prices in communities that build too fast. It also means amenities and commercial development follow residential demand, creating a balanced, self-sustaining ecosystem.
What This Means for Homeowners
If you buy in Teravalis today, you are buying at the beginning of a multi-decade growth curve. History shows that early buyers in Howard Hughes communities have been rewarded with strong appreciation as amenities mature and commercial development follows. Summerlin, which began in 1990, has consistently ranked among the most desirable communities in Las Vegas. The Woodlands has become one of the most valuable master-planned communities in Texas.
Of course, past performance does not guarantee future results. Market conditions, interest rates, and regional economic factors all play a role. But the fundamentals supporting Teravalis, population growth, job creation, infrastructure investment, and a proven developer, are as strong as any new community in the country.
"Buckeye has and always will be committed to smart, sustainable growth. Teravalis embodies that vision and will serve as a cornerstone of our city's future."
Mayor Eric Orsborn
Teravalis is not for everyone. It requires patience, vision, and a willingness to live in a community that is still taking shape. But for buyers who see the long-term opportunity, the rewards could be substantial. If you want to discuss how Teravalis fits into your investment strategy or your family's future, I am here to help you think it through.