A Canadian homebuilder is placing another bet on demand in the U.S. Sun Belt with plans for nearly 450 homes on 118 acres outside Phoenix.
Mattamy Homes said it paid $18 million last week for the site along the Hunt Highway Corridor in San Tan Valley, Arizona. Sales are due to begin in early 2026, with the homes ready for occupancy by that April, according to the company.
The Sun Belt region, including Arizona, covers parts or all of 18 states in the U.S. Southeast and Southwest. Robust job creation is attracting new residents, and builders are searching for lots to accommodate all the growth.
The Phoenix metropolitan area is the eighth fastest-growing region in the country, adding more than 49,000 new residents between mid-2022 and mid-2023, according to the latest figures from the U.S. Census Bureau. Dallas, with a population of 8.1 million, leads the nation with more than 152,000 new residents.
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Mattamy's new 443-home development will be known as Rosewood Heights. The builder did not release prices, but it said the development will have options for first-time and move-up buyers as well as empty nesters.
The one- and two-story homes at Rosewood Heights will feature ample natural light and architectural options, according to the company. The development's amenities will include a pool, pickleball courts, social areas, walking paths, grass areas and parks.
Toronto-based Mattamy is Canada's largest homebuilder, according to Builder magazine. The publication ranks Mattamy as the fourth-largest private homebuilder in the U.S. based on 4,578 sales last year. Across Canada, it has developments in the Toronto area, Ottawa, Calgary and Edmonton, and it builds in 11 U.S. markets, including Dallas, Phoenix and Orlando, Florida.
Other Mattamy developments in the Phoenix area include Empire Pointe, Pinnacle at San Tan Heights and Landmarke in the East Valley. The builder expects to open its Bella Vista Farms development in San Tan Valley next year.