Mattamy Homes purchases Lakewood Ranch site for $17 million

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Jan 09, 2014, 02:10 ET

Highly successful master-planned community model coming to Southwest Florida

WINTER PARK, FL, Jan.9, 2014 /PRNewswire/ - The Sarasota market will be the site of Mattamy Homes' next exclusive master-planned community in the US – with the company's $17.2 million purchase from Lakewood Ranch developer Schroeder-Manatee Ranch Inc.

The Mattamy model for such "complete communities" has proven highly successful in many signature, sought-after neighborhoods across North America. Mattamy communities are renowned for their integration, as the company is involved in every aspect of community planning, from purchasing the raw land, to planning the streets, to designing the homes to creating park spaces and walking/biking trails and other amenities.

The $17.2 million deal is for some 230 acres within the existing Lakewood Ranch development. Mattamy plans to build 675 homes in its community, a mixture of single-family homes and townhomes. The company expects to break ground on roads and servicing in mid-summer 2014, with the community including model homes opening for sale in spring 2015.

"This will be an individual Mattamy master-planned community within the larger Lakewood Ranch development – totally Mattamy, from raw dirt to complete community, and we're very proud and excited about that opportunity," says Steve Parker, President of Mattamy's US Group. "Mattamy has a long history of developing large master-planned communities, and we're looking forward to bringing that successful model to life in Sarasota."

Amenities within the community will include a clubhouse and pool, as well as two large parks with a "tot lot", dog park, and walking trails. The property is located conveniently to Interstate-75 (3.5 miles), which provides access to the Bradenton and Sarasota employment centers. More locally, Lakewood Ranch Boulevard provides quick access to nearby retail outlets, services and entertainment.

Lakewood Ranch is currently home to 8,000 households and 18,000 residents. It has four of the newest and best public schools in Manatee County, and about a dozen private schools and pre-schools. The development is home to 100 miles of sidewalks and trails, and hundreds of acres of parks and playgrounds. The community is recognized nationally for its quality planning that makes it a desirable place to live, work, play, shop and learn. Lakewood Ranch is the largest "green" certified community in Florida.

"Mattamy's entry into the Sarasota market is the latest example of our company's commitment to being a major presence in the Florida homebuilding industry, and of our confidence in the future of housing locally," says Ed Suchora, President of Mattamy's newest division, Tampa. "Lakewood Ranch is one of the most highly desirable and fastest-growing communities in the area, with good schools, excellent community appearance and a good track record for sustained values at the core of its appeal. We're so excited that Mattamy is going to be a big part of it."

About Mattamy Homes
Mattamy Homes is Canada's largest new home builder, with operations across Canada and the United States. Mattamy has built more than 60,000 homes in hundreds of communities across North America. In Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton, while in the United States, the company is represented in six metropolitan areas: Minneapolis, Charlotte, Phoenix, Jacksonville, Orlando and Tampa. Visit www.mattamyhomes.com for more information.