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Mattamy welcomes empty nesters to RiverTown, Florida

October 30, 2014 - 0 comments

If you’re a fan of Mattamy Homes in Canada, you night want to consider their products in the Sun Belt of the U.S. as the company continues to expand south of the border.

In April of this year, Mattamy announced the purchase of the RiverTown community in Jacksonville, Fla. for $43.6-million U.S. from St. Joe Company in what it termed “one of the most significant real estate transactions in north Florida in the last 10 years.”

RiverTown, covering 4,057 acres, is the only riverfront master-planned community in Jacksonville. As of the April purchase, 150 families lived there, and it is approved for up to 4,950 homes, meaning the final population will reach over 10,000 people when the mixed-residence neighbourhood is built out. Ultimately the project may last up to 15 years.

Mattamy, with a corporate head office in Oakville, Ont., has built more than 60,000 homes in communities across North America. In Canada, Mattama has built across the Toronto region 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-Sarasota.

“We have definitely had interest in our communities in Florida (and RiverTown specifically) from the retiree, empty-nester and active-adult buyer segments – really anywhere that we feature "ranch style" (single storey) homes,” Brent Carey, vice-president of communications, told FYI and Southbound. “And going forward we will also be factoring age-targeted developments into our plans in large-scale developments like RiverTown in the Jacksonville area and Lakewood Ranch in Sarasota, for example.”

Carey, reached in September, said he did not know when Mattamy would start building a new phase in RiverTown. In the last phase, costs were as follows: one-storey ranches sold from the $200s on 50-foot homesites, in the $240s on 60-foot lots and the $280s on the 70-foot lots.

Said Steve Parker, president of Mattamy's U.S. Group, in the spring media release, "We are so excited about our acquisition of the RiverTown community, which is the largest real estate purchase that Mattamy has ever done in the United States.

“Our company has a long history of developing large master-planned communities, and we're looking forward to bringing that successful model to life in RiverTown."

RiverTown's amenities include the RiverHouse Community Clubhouse, 58 acres of natural space, RiverTown fitness centre, tennis courts, junior-sized Olympic lap pool, a zero-entry (sloping entry) community pool, and community dock and fishing pier, as well as event lawns and jogging trails with waterfront views. "We've seen an increased demand for home sites in the submarket of northwest St. Johns County," said Parker. "Along with a number of other significant purchases over the last year, our RiverTown acquisition is another example of Mattamy's confidence in the future growth of the Florida housing market."

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