Mattamy Homes makes grand entrance into the South Florida market with Tradition purchase

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Jul 05, 2018, 16:00 ET

The acquisition includes commercial and retail, more than 2,780 acres and 7,800 homesites
in the highly sought-after community.

PORT ST LUCIE, FL, July 5, 2018 /PRNewswire/ - Mattamy Homes, the largest privately-owned homebuilder in North America, recently closed on more than 7,800 residential lots in Tradition to establish the company's flagship development in the South Florida region.

Florida contemporary home by Mattamy Homes (CNW Group/Mattamy Homes Limited)

The purchase provides Mattamy with 2,780 acres planned for 7,800 homesites for single-family, multifamily and active-adult homes, as well as 150 acres of commercial land. The build out will take from 10-15 years with prices ranging from the low-200s to 400s. According to a recent Metrostudy market summary report, Tradition is the Top Selling Community in the region for 2017 with more than $270 million in existing infrastructure investments, a thriving town center with neighborhood focused retail including anchors such as Publix and Target, and the area's strongest schools.

"This is a significant move into the South Florida market, that demonstrates we're committed to the region due to its vibrant and sustained growth," said Lara Swanson, Mattamy's Southeast Florida Division President. "We bring a depth of knowledge and have an incredible team in place to re-invigorate. Tradition, expand on Tradition's well-known brand and offer new product to an already strong sales market. We are excited to be part of this unique and thriving community and are ready to fulfil the ultimate vision of Tradition."

As part of the deal with Mattamy, the City of Port St Lucie took ownership of more than 1,200 acres of land located east of Village Parkway and north Becker Road. The City proposes to create diverse employment opportunities to expand on Tradition's recently opened 177-bed hospital with an outpatient surgery center, medical offices, and research and development centers, in addition to attracting new employers and commercial development opportunities.

About Mattamy Homes
Mattamy Homes is the largest privately-owned homebuilder in North America, with a 40-year history of operations across the United States and Canada. Every year, Mattamy helps 7,000 families realize their dream of home ownership. In the United States, the company is represented in 10 markets – Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its US head office is located), Tampa, Sarasota, Naples and Southeast Florida – and in Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. For more information, visit www.mattamyhomes.com.