Two-phase deal for 142 total acres will ultimately comprise 333 homes at Russell Ranch development

PHOENIX, Oct. 9, 2019 /CNW/ - Mattamy Homes, North America's largest privately-owned homebuilder, is pleased to announce that it has secured a significant property in the west valley of Maricopa County, AZ, that will enable the company to expand its presence in this key Phoenix submarket while providing homebuyers with a variety of new product alternatives.

The acquisition is the first of a two-phase deal for a 142-acre piece of property that will comprise 333 new homes across multiple product sizes, including 45'-wide, 55'-wide and 60'-wide single-family homes. Mattamy purchased the first 69 acres from J&A Camelback Property, LLC for $5.8 million, which will include about 180 homesites, with expectations to purchase the second phase in the near future, adding 73 acres and another 153 homesites to the community. Mattamy closed the initial deal on October 3, 2019. Located at the northeast corner of Perryville Road and Camelback Road, part of the original Russell Ranch development, the new Mattamy community will be named Azure Canyon.

"We're excited to further expand our footprint in the West Valley with a significant community in a vibrant and highly desirable location," says Harry Lourimore, President of Mattamy's Phoenix Division. "Azure Canyon is going to meet the evolving needs of local homebuyers, including home affordability, through a large and diverse selection of home designs with flexible and unique options."

Azure Canyon will feature Mattamy's distinctive community design and architectural flair as well as commitment to home quality and customer experience. Plans call for a distinctive mix of single- and two-story homes including the highly regarded floorplans from popular communities like WestWing Mountain in Peoria and Palm Valley North in Litchfield Park. New plans are expected to offer optional attached RV garages, a highly sought, yet rare offering in the Valley.

Other Azure Canyon features for residents include more than 31 acres of open space for planned neighborhood parks, a tot lot, shaded ramadas and walking trails. The location offers easy access to Loop 303 and the connecting Interstate 10 and is close to major area employment and ease for commuting to other areas of the Valley, including downtown. There is also a wide variety of nearby retail and dining conveniences and highly rated schools.

Azure Canyon is expected to open for sale in late 2020 with first closings of homes anticipated before year-end 2020. Land development will start late this year.

For more information:
https://mattamyhomes.com/phoenix.aspx

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 more than 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, its communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. Visit www.mattamyhomes.com for more information.

SOURCE Mattamy Homes Limited