Episode 108 – Interview with Charley Freericks on Teravalis (Part 2)

In Episode 108 of the Land to Lots™ Podcast, Carter Froelich wraps up his conversation with Charley Freericks, President of the Arizona Region of Howard Hughes Communities, about Teravalis, a 37,000-plus acre master plan community in Buckeye, Arizona.

Charley discusses how Howard Hughes’ entry into Buckeye avoided organized opposition, crediting his reputation from Verrado, his relationships with city leadership, and a close working cadence with city staff as Teravalis moves through its zoning and development agreement process. 

Carter and Charley then discuss Arizona’s water supply and policy, including Teravalis’s secured groundwater and the state’s long-term water solutions, infrastructure financing through Community Facilities Districts and how that compares to Texas-style municipal utility districts, pending Arizona legislation aimed at modernizing those financing tools, school funding challenges in the West Valley, and the builder segmentation and amenity strategy that set Teravalis apart, including the removal of a legacy lake in favor of a planned 22,000-square-foot amenity complex.

In this episode, you’ll learn:

• Charley’s closing perspective on Arizona’s water future, Teravalis’s early-stage momentum, and his outlook for the community’s long-term growth
• Why Howard Hughes Communities has faced no organized opposition moving into Buckeye, and how Charley’s reputation from Verrado and his relationships with city leadership and staff have shaped a close working cadence with the city. 
• How Teravalis’s water supply is secured, including the 100-year guaranteed supply for Floreo, the South Hassayampa Valley groundwater basin, and Charley’s take on Arizona’s groundwater moratorium and long-term water policy. 
• How Howard Hughes Communities is financing infrastructure at Teravalis through Community Facilities Districts (CFDs), and the reimbursement lag CFDs create compared to Texas-style municipal utility districts, plus pending Arizona legislation aimed at closing that gap. 
• Why school funding and education bonds, including the recent failed Saddle Mountain Unified School District bond elections, are a growing concern for master plan communities in the West Valley. 
• How Teravalis is differentiating itself through builder segmentation across a broad price spectrum, from the low $300,000s to the $700,000-$800,000 range, with seven builders on board and an eighth in the works. 
• Why Howard Hughes removed a grandfathered lake amenity over water conservation concerns and replaced it with a planned 22,000-square-foot amenity complex. 

Show Notes:

Charley Freericks

W – https://www.teravalis.com/ 

O – 602-834-9100

E – Charley.Freericks@HowardHughes.com

 

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Carter Froelich – 480-828-9555 / carter@launch-dfa.com

Carter Froelich hosts the Land to Lots™ podcast powered by Launch Development Finance Advisors. Carter shares how he and his team help their clients finance infrastructure, reduce costs, and mitigate risks all with the goal of enhancing project profitability.