Kathy Bonillas and Everardo Rodarte Lara moved early on their homebuying journey.
A home in Manzanita at Teravalis by Century Communities was the second stop for the couple — and they didn't need to see anything else. The two closed on a three-bedroom, two-bathroom home in Buckeye, Arizona, in mid-October and moved in later that month.
"We just fell in love with it," Bonillas said in an interview with Homes.com. "It's quiet here. There's nobody right now."
The couple is relocating from Laveen — a west Phoenix town roughly an hour away from Teravalis. Rodarte Lara is a musician, while Bonillas works at an Arizona Department of Transportation Motor Vehicle Division office.
Howard Hughes Communities — the developer behind the 37,000-acre Teravalis community — hopes that will change soon. The global firm behind ambitious communities across the nation, such as The Woodlands and Summerlin, Nevada, looks to replicate those returns at Teravalis.
Howard Hughes held a grand opening party at Teravalis on Nov. 14 that brought in its top executive, David O'Reilly, Arizona Gov. Katie Hobbs and several project partners now that this milestone has been reached.
In the decades to come, this vacant desert land is expected to transform into a city within a city, covering more than 55 square miles — with 100,000 homes for 300,000 residents, alongside 55 million square feet of commercial space, parks, schools and more.
Floreo — a 3,000-acre chunk of the Teravalis master plan — is the first of "many future villages" that are set to rise over the decades to come.
"Just the fact that we're the first people here, too, seeing the whole community get [built]," Rodarte Lara said. "I think it's a really good experience."
Howard Hughes looks to capitalize on momentum
While Bonillas and Rodarte Lara have moved in, Tatiana Weems, another first-time buyer, was the first to sign a contract for Teravalis. Weems told Homes.com that she signed her contract in September as Lennar Corp. finished building out her home. She did a final walkthrough earlier this week and expects to move in by the first week of December.
Weems works remotely as an associate director of recruiting for a travel agency.
"It's perfectly located directly in between my parents and my sister," Weems told Homes.com. "I couldn't ask for more. The build is gorgeous.
"Hopefully I won't be alone [in my neighborhood] for too long."
Century Communities and Lennar are two of the seven builders in Floreo, along with Brightland Homes, Courtland Communities, KB Home, Meritage Homes and New Home Co. Charley Freericks, Howard Hughes' president of the Phoenix region, told Homes.com that the firm is in talks with an eighth builder to join the mix.
Howard Hughes held "Floreo Fest" on Nov. 15 to attracted interested buyers, who could tour 20 model homes.
"The buzz will be high, homes will be selling and that will be fun," Freericks said at the grand opening. "It reminds you why you're here."
Freericks said Howard Hughes will now turn its attention to bringing in a grocer, kicking off retail services at Teravalis, and to launch bond campaigns next year to build a school.
'A once in every five- or 10-year opportunity'
At roughly 37,000 acres, Teravalis would surpass The Villages in Florida as the largest master-planned community in the United States in size. The Villages encompasses 30,000-plus acres and more than 70,000 homes, with a population approaching 160,000.
Phoenix's West Valley has been a population magnet, with relatively affordable entry prices and ample developable land for new residential and commercial construction. Buckeye is the fastest-growing West Valley city in Maricopa County, with its population jumping more than 20% between 2020 and 2024, according to an analysis of U.S. Census Bureau data by CoStar, Homes.com's commercial real estate data affiliate.
Howard Hughes completed the land purchase during that time for $600 million. Early construction started in 2022 before builders signed on and completed the first models earlier this year.
"Finding a community of this scale and scope is a once in every five- or 10-year opportunity," O'Reilly, CEO of Howard Hughes Holdings, said in an interview with Homes.com. "It's great land, near major infrastructure with access to a good city that's warmer, less expensive and a business-friendly climate.
"It had all the [hallmarks] of what will be an incredible community to develop over the next 40 to 50 years."