Howard Hughes Announces First Four Homebuilders for Teravalis

Lennar, Brightland Homes, KB Home, and Courtland Communities Slated to Build Homes for Launch of New Howard Hughes Community in Phoenix West Valley

PHOENIX, April 03, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) announced today the first four homebuilders for the launch of Teravalis, the company’s new 37,000-acre community in the Phoenix West Valley. Lennar, Brightland Homes, KB Home, and Courtland Communities will build the initial homes in Floreo, the first village being developed in Teravalis, that is expected to deliver the community’s first 5,000 homes to the market over the next decade.

“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 David O’Reilly, Chief Executive Officer of Howard Hughes. “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.”

Lennar
With a history dating back to 1954, Lennar has built over one million new homes for families across America. As one of the nation’s leading homebuilders, Lennar builds homes across the homebuying spectrum, catering to all lifestyles and family dynamics. Addressing the demand for multigenerational family housing, Lennar’s Next Gen offering aligns closely with the Teravalis vision to provide housing options that meet today’s demand and provides flexibility for how people want to live.

“Having partnered with Howard Hughes in their Summerlin development in Las Vegas, we know their track record of excellence in creating and executing bold visions for what a development can be, and Lennar is pleased to be one of the first to sign on with Teravalis,” said Alan Jones, Division President at Lennar. “The pioneering, future-focused nature of Teravalis is exciting for us and we are eager to break ground on our models and showcase what Lennar can bring to this beautiful High Sonoran Desert setting.”

Brightland Homes
Brightland Homes has more than three decades of expertise building homes across the country, notably in Arizona, Texas, Colorado, Tennessee, and Florida. With accolades such as Builder of the Year, Best Product Design, and ENERGY STAR Market Leader, Brightland Homes has built a reputation of excellence by providing an array of floor plans and styles to respond to the market demand and consumer needs in the various environments in which they build.