Toronto-based developer Mattamy Homes -- primarily known for building suburban single-family dwellings -- plans to expand and enhance its multi-family mid-and high-rise offerings in the Greater Toronto Area (GTA).
Mattamy, one of the largest privately owned builders in North America and the largest residential home builder in Canada, is launching a new dedicated high-rise division that will expand the developer's urban footprint and address housing needs in the country's largest housing market.
The new business, named Mattamy GTA Urban, was created to meet the region's needs of increased density and affordability, said Brad Carr, CEO of Mattamy Homes Canada.
The Urban Division will include the company's current 40 high-rise projects and all multi-family developments within its master-planned communities in the GTA market.
READ: Mattamy Homes Founder Donates $100M To SickKids
"Multi-family mid-and high-rise housing is a core component of future development in the GTA, as Canada's largest urban centre looks to provide increased supply of housing and livable communities while keeping the Greenbelt intact," said Carr.
"We fully intend to be at the forefront of this exciting and high-growth area, developing and designing communities that reflect how people live, work, shop, and visit," added Carr.
With aggressive growth targets for both the 416 and 905-areas, the developer says it expects to be building as many urban, multi-family units as it does single-family low-rise homes within five years.
The division will be supported by a team of leading urban development professionals and is being led by David Stewart. He brings more than 30 years of development experience, both in Canada and the US. Stewart started his career at Mattamy and moved on to be President of Minto Communities Canada before rejoining Mattamy to lead the GTA Urban Division.
"We are building off an already strong base of multi-storey projects across the GTA, and we have an ambitious growth plan to expand that portfolio significantly in the short to medium term," said Stewart. "Our dedicated and growing team will spearhead our plan to deliver innovative, high-quality, multi-story housing in the Toronto region."
As the division advances, all multi-story projects, including high-rise and multi-family housing within master-planned communities, will be organized under the Mattamy GTA Urban division.
Mattamy says its current single-family business will be consolidated into the GTA Low Rise division focused on low-rise housing across the region.
