Mattamy Closes Second Deal at Vistoso for a total of $13.6 Million

Mattamy Homes closed on an additional 92 gross / 61 net acres of pre-platted land at the northeast corner of Moore Road and Rancho Vistoso in Oro Valley this week for $8.7 million ($43,500 per lot), the largest residential land sale of its type for the year. This second acquisition brings Mattamy’s holdings in Vistoso to $13.6 million ($45,333 per lot) for approximately 300 potential lots.

The homebuilder is working on preliminary platting of the site however lot sizes are still to be determined.

Ryan Huffman, Vice President of Land Acquisitions and Development describes Mattamy as a ‘move-up’ segment 2 – 3 homebuilder. Mattamy does not want Tucson to be a satellite office of Phoenix and has placed Josh Robertson in the new position of Tucson Division President to oversee its activities in Tucson.

Huffman said in an earlier interview, “We recognize the uniqueness of Tucson; and looked for someone who will show our lasting commitment and intentions for rapid growth in the community.”

As we reported back in June, Mattamy Homes is Canada’s largest new home builder, with operations across Canada and the United States. From a humble beginning in 1978, Peter Gilgan, its founder named the company after his two children Matt and Amy. Mattamy has gone on to build more than 60,000 homes in 150 integrated communities, and counting. In Canada, those communities stretch across the Greater Toronto Area (Canada’s largest metro area), where the company holds 50% of the market, as well as in Ottawa and Calgary. In the United States, the company is currently represented in Minneapolis, Charlotte, Phoenix, Jacksonville and Orlando is recently added Tucson, and in a big way.

The builder has been in Phoenix since 2007. Mattamy is also constructing 172 SFRs in Dove Mountain. Thee Dove Mountain lots at Golden Barrel are already entitled so should be ready to build before the Rancho Vistoso property, in early as Spring 2015.

Mattamy gets involved in every aspect of neighborhood planning, from acquiring the land, designing the homes and striving to deliver an exceptional customer experience. The 750 people who work in Mattamy’s divisions and professional disciplines are committed to providing the best homeowner experience.

The homebuilder is interested in acquiring more land in Tucson.

Will White and John Carroll of Land Advisors Organization in Tucson represent the seller, Vistoso Partners LLC of Tempe and the builder in the all-cash transaction.

“This is another great sign of confidence for our market and Tucson’s potential in the coming years,” White said.

To learn more contact White and Carroll at (520) 514-7454.