Denver homebuilder gets first closing at massive Teravalis development

By Angela Gonzales

Denver-based Century Communities Inc. (NYSE: CCS) is the first homebuilder to close on a home at Teravalis, a 37,000-acre master-planned community being developed in Buckeye.

Plans call for unveiling the first homeowners at grand opening celebrations on Nov. 15. Also being unveiled that day will be the eighth homebuilder selected to build at Teravalis.

So far, 133 homebuilder permits have been pulled at Teravalis, according to RL Brown Housing Reports. The housing report also tracked Century Communities as the first homebuilder to close on a home at Floreo, the first village within Teravalis.

That October closing is a sign that things are progressing at the master-planned community, said Jim Daniel, president of RL Brown Housing Reports.

"The fact that we have permitting and closing activity is amazing for us long-time market watchers," Daniel said. "We've been talking about it for 40 years."

Being the first to close on a home within the giant master-planned community is huge bragging rights for the homebuilder, said Charley Freericks, Arizona region president at Howard Hughes Communities, developer of Teravalis.

With 170 lots at Teravalis, Century Communities also was the first to open model homes there.

Taylor Lilly, Phoenix division president for Century Communities, is humbled.

"It means a great deal to my team and I to be the first builder to close a home in Teravalis, especially with all the homebuilders we were competing against," Lilly said. "It's something we can always be proud of for years to come, and shows how hard our team worked in order to hit that achievement."

With prices starting in the mid $300,000s, homes will range between 1,445 and 2,520 square feet, Lilly said. On Nov. 15, Century Communities will have three model homes open for tours.

Even with prices under $400,000 for these newly built homes, Century Communities and other homebuilders are offering incentives at Teravalis.

For example, Century Communities will offer fixed mortgage rates starting under 4% and will help with closing costs, Lilly said.



Called Floreo Fest, the public celebration on Nov. 15 will offer tours of 20 model homes built by Century Communities, Courtland Communities, DRB Homes, KB Home, Lennar, Meritage Homes and New Home Co., with select homes available for immediate purchase.

"Floreo Fest is more than a grand opening," Freericks said. "It's a celebration of a dream taking shape just west of the White Tank Mountains."

Howard Hughes broke ground Oct. 28, 2022, on Floreo, the first community within Teravalis, after paying $600 million for the vacant land, previously called Douglas Ranch.

"Not long ago, it was flat dirt," Freericks said. "A year ago, we were starting to build some walls. Today we have 150 homes in some form of construction."
Called Floreo Fest, the public celebration on Nov. 15 will offer tours of 20 model homes built by Century Communities, Courtland Communities, DRB Homes, KB Home, Lennar, Meritage Homes and New Home Co., with select homes available for immediate purchase.

"Floreo Fest is more than a grand opening," Freericks said. "It's a celebration of a dream taking shape just west of the White Tank Mountains."

Howard Hughes broke ground Oct. 28, 2022, on Floreo, the first community within Teravalis, after paying $600 million for the vacant land, previously called Douglas Ranch.

"Not long ago, it was flat dirt," Freericks said. "A year ago, we were starting to build some walls. Today we have 150 homes in some form of construction."

Final Thoughts / Takeaways:

Teravalis is officially shifting from vision to reality. With Century Communities completing the first home closing at the massive 37,000-acre master-planned development, momentum is clearly building. Rapid permit activity, rising construction progress, and a strong lineup of national builders signal long-term confidence in Buckeye’s growth corridor. With prices starting in the mid-$300s, incentives such as sub-4% fixed rates, and more than 20 models opening for public tours, Teravalis is positioning itself as one of the West Valley’s most significant new housing hubs. The project’s scale, location, and early builder enthusiasm underscore a transformative community now taking shape.