Howard Hughes Holdings Inc. (NYSE: HHH) announced the first four homebuilders for the launch of Teravalis, the company’s new 37,000-acre community in Arizona’s Phoenix West Valley.
Brightland Homes, Courtland Communities, KB Home and Lennar will build the initial homes in Floreo, the first village being developed in Teravalis. The builders are slated to bring 5,000 homes to the market over the next decade.
Howard Hughes Holdings is promoting Teravalis as one of the nation’s largest master planned communities. When completed, it will encompass 100,000 homes, 300,000 residents and 55 million square feet of commercial development.
“We are pleased to begin residential development in Teravalis as we build this innovative new community that will help meet the ongoing market demand for homes in the Phoenix West Valley,” said CEO David O’Reilly. “Howard Hughes sells more lots to homebuilders than any other developer in the country, and we are pleased to announce our partnerships with acclaimed homebuilders at Teravalis who share our track record for building expertly planned communities designed for long-term, sustainable growth.”
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