The Phoenix suburb of Buckeye, home to 90,000 people, is recognized for wildlife and outdoor recreation, including hiking, mountain biking and camping, and is most famous for its annual fall Country Fest, according to a glossy overview by real estate brokerage Redfin Corp. (NASDAQ:RDFN).
But the idyllic lifestyle is about to change. The enormous Teravalis development broke ground in late October on a project that will bring the once-quiet town more than 100,000 homes. The new development comes courtesy of the Howard Hughes Corp. (NYSE:HHC), which is developing the 37,000-acre master-planned Teravalis community in the Phoenix West Valley. In addition to the residential community, the project includes more than 55 million square feet of commercial development.
