Mattamy Homes Partners with Parkbridge to Bring First Mixed Home-ownership Community to Ontario
Leading developers come together to provide creative solution for housing choice and flexibility in Innisfil, Ontario
TORONTO, April 27, 2022 /CNW/ - Potential homebuyers in the picturesque community of Innisfil, Ontario, will soon have a variety of ownership choices to meet their needs, thanks to an innovative partnership between Mattamy Homes, North America's largest privately owned homebuilder, and Parkbridge Lifestyle Communities (Parkbridge), Canada's leading developer of residential land-lease communities. The partnership will bring the first mixed-ownership community to Ontario – featuring both traditional freehold homes and land-lease homes, offering increased choice, flexibility and affordability.
The community in Innisfil, which will be named Lakehaven, is expected to total approximately 2,000 homes and be built out in four stages over 10 years. Approximately two-thirds of the homes will be single-family in the traditional ownership model and one-third will be bungalow townhomes in the land-lease ownership model. This community is expected to appeal to all demographics (age, income, family size, etc.).
"At Mattamy we are deeply invested in doing our part to address housing choice and affordability and foster a sustainable housing market for buyers in Ontario," says Brad Carr, CEO of Mattamy Homes Canada. "We believe in providing a variety of choice and homes that appeal to every type of homeowner who wants to have a home, some green space, live in a community and build equity in their home. In Lakehaven they will have that exciting opportunity of choice in a community with different options for ownership. We are so excited to be entering a new market for Mattamy and to be doing so with an amazing partner like Parkbridge."
Land lease, as a model for home ownership, is quickly growing in Canada, though it is well established in the US and Europe. "In a land-lease arrangement, the buyer owns the home outright and leases the land," says Mark Gow, CEO of Parkbridge. "By removing the expensive land portion from the ownership equation – a particular concern in central and southern Ontario – this model can increase affordability and offer an ideal housing option for people looking to downsize, or for first-time buyers."
The start of sales for the community is expected in late 2022. The Lakehaven property is located off Lockhart Road, just nine minutes to the Barrie South GO Train station and four minutes to Mapleview Park on the edge of Lake Simcoe.
Mattamy Homes is the largest privately owned homebuilder in North America, with more than 40 years of operations history across the United States and Canada. Every year, Mattamy helps 8,000 families realize their dream of home ownership. In the United States, the company is represented in 11 markets –Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its US head office is located), Tampa, Sarasota, Naples, Dallas 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.
Parkbridge is Canada's leading planner, developer, and owner of more than 50 residential land lease communities and 30 recreational resort communities across the country. Headquartered in Collingwood, Ontario, Parkbridge enriches the lives of Canadians by enabling families to buy a home, couples to downsize their home, and vacationers to reside at fun summer RV resorts. Parkbridge manages and continually invests in the properties it owns and operates, creating a relationship with our customers and vibrant communities with quality amenities. Visit www.parkbridge.com for more information.
SOURCE Mattamy Homes Limited
Brent Carey, VP Communications, Mattamy Homes, [email protected]; Dale Albers, Director, Corporate Communications, Parkbridge, [email protected]
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