Tuesday, May 22, 2018
Business

Canada's largest homebuilder Mattamy moves into Tampa

Canada's largest home builder is joining the snowbirds in flocking south, opening a new division in Tampa to compete for a growing demand in new homes, the company said Tuesday.

Mattamy Homes is looking to acquire land here for its newest development, calling Tampa's "diverse population and economic base ... the next great opportunity" for the Ontario-based builder.

The firm, which has divisions in Arizona, Minnesota and the Carolinas, has also built in 18 subdivisions across Jacksonville and Orlando.

With revenues of $1.5 billion in Canadian dollars (about $1.41 billion U.S.) in fiscal year 2013, Mattamy could pose a challenge to large homebuilders already established here, including D.R. Horton, PulteGroup and Lennar.

Mattamy's expansion into America underscores the changing housing markets of Canada and a resurgent United States. While home sales in Canada dove sharply last year, home builders in Tampa Bay beat local forecasts and started about 6,500 new homes this year, 35 percent higher than 2012, Metrostudy data show.

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