Big money is flowing west of the White Tank Mountains. Howard Hughes Holdings just landed a $900 million investment that’s set to accelerate one of Arizona’s most ambitious master-planned communities—Teravalis in Buckeye.
Highlights for Real Estate Investors:
- Massive Scope: Teravalis will span 37,000 acres and is expected to include:
- 100,000 homes
- 300,000 future residents
- 55 million square feet of commercial development
- Backed by Heavy Hitters:
- Pershing Square Capital (led by Bill Ackman) is injecting $900M into Howard Hughes Holdings (NYSE: HHH).
- Bill Ackman is now executive chairman of the HHH board.
- Strategic Timing:
- The capital comes right before the grand opening of Floreo, Teravalis’ first village, which will offer 8,500 homes.
- Model homes are underway and sales kick off this fall.
- Builder Demand Already Strong:
- Seven homebuilders have secured lots in Floreo.
- Infrastructure & Water:
- Floreo has the necessary certificates of assured water supply.
- Water remains a concern for future phases, but Howard Hughes points to its desert development success in Summerlin, NV as a roadmap.
Why It Matters to Arizona Investors:
- Buckeye is Booming: West Valley investors should note that Buckeye is a magnet for massive developments—and now it’s flush with capital.
- Jobs & Retail Will Follow: Expect commercial development to rise in tandem with housing—driving demand for rentals and property management.
- Watch the Water: Future water certifications could slow later phases, but this is a long play with serious institutional backing.