1,476 New Homes Boost Metro Phoenix Real Estate Market in 2023 

Phoenix real estate
Mattamy Homes is thrilled to develop six vibrant communities in the Phoenix metro area, Phoenix Real Estate including Las Ventanas in Goodyear, which will feature 412 beautiful homes. 

Don Barrineau is experiencing remarkable success. 

The Phoenix division president of Orlando, Florida-based Mattamy Homes is spearheading development of six new communities in metro Phoenix, totaling 1,473 homes with four set to open this calendar year. 

He mentioned that the majority of the land was acquired over two years ago. 

“When the interest rates increase, everyone in the U.S. held their breath and paused all their land deals for a while, Barrineau explained. We paused them temporarily”. “Had we maintained our original pace, these developments would have been completed last year.” 

Four of the six communities will open this year, and the remaining two will open within the next 12 months, he said. Four of these communities are in the West Valley and two in the East Valley. 

Don Barrineau, the Phoenix division president for Mattamy Homes. 

In 2023, the homebuilder achieved a record year for its Arizona division, selling 759 homes, According to Barrineau. 

He mentioned that with 92 employees in metro Phoenix, the homebuilder is set to more than double its footprint in Phoenix area. 

“As we get scaled up to approximately 1,100 homes a year, we will likely employ around 150 people,” he said. “We are deeply committed and think it’s a great long-term opportunity for us.” 

Mattamy Homes will integrate into existing master plans

Mattamy Homes, operated by Toronto-based Mattamy Asset Management with operations all over the U.S. and Canada, typically develops its own communities rather than purchasing lots within existing master-planned communities. 

We have acquired properties from another developer, depending on our desired growth rate,” Barrineau said. 

“In this market, we’re going to start working with key partners to integrate some of these existing master plans,” he said. 

Out of the six communities being developed, five are by Mattamy Homes, and one is part of Bella Vista Farms, a huge 1,500-acre master-planned community in San Tan Valley developed by Scottsdale-based El Dorado Holdings Inc. 

Mattamy Homes is constructing 1.473 homes throughout the Valley. 

The $16.23 million acquisition of 118 lots at Bella Vista Farms, located off Hunt Highway and Bella Vista Road, signifies Mattamy Homes’ debut in this master planned development. 

“We believe it is essential to collaborate with master plan developers,” Barrineau said. “El Dorado is highly esteemed and known for developing outstanding neighborhoods. We feel very fortunate to have secured this position.” 

His team is currently grading the land and anticipates beginning home sales within approximately a year. 

Although it is too early to establish home prices, the homes at Bella Vista Farms will range between 1,800 and 2,800 square feet. 

“Bella Vista has a thousand more lots to develop as the neighborhood grows,” Barrineau said. “If things go well and the partnership is successful, we will purchase more lots. They’ve been great to work with and we closed the deal in record time in May.” 

Mattamy Homes also plans enter the Queen Creek

In the East Valley, near Combs and North Gantzel roads in Queen Creek, Mattamy is working on its own master-planned community with 254 lots. 

With a grand opening scheduled for spring 2025, this development will mark Mattamy’s third entry into that submarket. 

“It is located near the Olive Mill, within a short distance,” Barrineau said. “It’s situated behind several horse properties.” 

Homes will range from 1,800 to 4,000 square feet and will be priced between $450,000s to the $620,000s, he said. 

Each of Mattamy’s master-planned communities will feature amenities, such as parks, trails and ramadas. 

In the West Valley, their largest project is Las Ventanas, with 412 lots at 187th Avenue and Yuma Road in Goodyear. 

This development is crucial for us,” According to Barrineau. 

Las Ventanas will offer three product types, including a floorplan featuring an RV garage.

Only 30% of homebuyers who purchase lots with RV garages have recreation vehicles, he said, opting to use the space for “desert toys.” 

Homes will range from 1,700 square feet to 4,000 square feet across three product types, with prices starting from $450,000s to the $650,000s. 

Sales for that community are expected to start selling homes in December. 

Also in the West Valley, Mattamy Homes is working on a community called Tyler Ranch near West Broadway and Miller Road in Buckeye. 

Surrounded by alfalfa fields, the plan is to build 303 homes starting at $389,000. 

“This project will be a more affordable approach for us, similar to the San Tan Valley deal,” Barrineau said. It will be more entry-level. Instead of utilizing our design center, we will offer professionally designed packages with pre-selected colors and materials for the house.” 

Featuring homes ranging from 1,500 to 3,100 square feet, this community is scheduled to open in December. 

Mattamy is preparing for the influx of TSMC employees

Furthermore, Mattamy Homes is developing two communities in Surprise to accommodate the thousands of workers from Taiwan Semiconductor Manufacturing Co. who will need homes. 

Barrineau has already sold nearly 1,000 homes at other communities near TSMC. 

Miravida, a new community with 208 homes near West Happy Valley Road and 147th Avenue in Surprise. 

One of the product offerings features a lot with three-car front-load garages. 

With a grand opening scheduled for July, homes will range from 1,700 and 3,500 square feet with prices starting in the $420,000s and go up to the $550,000s. 

The floor plans are family friendly, featuring modern design, with an entryway at the door. 

“The house opens up dramatically as you move past that entry,” he said. “I’m proud of that. We use more glass than most competitors in our price range because we believe in natural light. We include 20% more windows in any given floor plan compared to our competitors.” 

Furthermore, Tierra Vistoso in Surprise will offer three-car garage on its 60-foot lots. 

Scheduled for a grand opening in November, plans include 178 homes ranging from 1,800 to 3,500 square feet, with prices starting in the $450,000s to more than $600,000. 

Located near Jomax Road and 171st Avenue, Tierra Vistoso offers convenient access to amenities, grocery stores and employment opportunities. 

“But it’s like a hidden little gem,” Barrineau said. “You feel as though you’re countryside. As you approach the property, you pass by ranches, providing a pleasant country escape.” 

He mentioned considering cross-selling between Tierra Vistoso and Miravida, despite them not being adjacent communities. 

“There is a distinct look and feel between the two communities,” he said. 

For future development, Mattamy Homes has letters of intent or contracts for an another 12,000 lots in metro Phoenix, Barrineau said. 

“It’s still early,” he said. “We won’t close on all of them, that’s uncommon. However, it demonstrates our serious commitment to the market.” 

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