Howard Hughes has outlined Teravalis, a large-scale master-planned community west of Phoenix that could ultimately house about 400,000 residents.
At completion, the development is expected to include more than 130,000 homes alongside 60 million square feet of commercial space, according to HousingWire.
The scale places Teravalis among the most consequential long-term development propositions in the Phoenix-area market, combining residential supply with a substantial commercial component.
For investors, developers and prospective occupiers, the project’s eventual buildout will hinge on the delivery of housing and commercial districts across a desert location west of the region’s established urban core.
