Mattamy Homes said today it has made a “substantial investment” in Beachline South Residential, LLC, a Lake Nona area land developer. Beachline is developing the Starwood Property, which totals 2,560 acres, with 1,161 net acres slated for single-family residential development – over time, the property is expected to comprise more than 4,000 single-family homes, 2,000 multi-family homes and nearly 500,000 square feet of retail/office uses. Terms were not disclosed.
The Starwood Property is located east of SR417, south of SR528, with access through an extension of Dowden Road.
“Orlando continues to demonstrate that it is one of the strongest markets in the state of Florida, as evidenced by the positive demographic trends including employment and population growth,” said Alex Martin, Mattamy’s Orlando Division President. “We consider the Starwood Property an excellent complement to our existing Randal Park community and an opportunity to maintain our strong presence in this highly desirable and rapidly growing area of Central Florida.”
“Given their exceptional track record and experience in executing large, master-planned communities, Mattamy Homes was an obvious choice as the exclusive single-family home builder for Starwood”, added Jay Thompson, Beachline South Residential’s manager.
The proposed home sites will range from 20′ townhomes to 70′ estate lots. Mattamy plans to leverage its existing and thoughtfully designed architectural portfolio, including successful home designs from Randal Park. Pricing is yet to be determined. The community will also include an abundance of amenities; featuring amenity centers of different sizes located throughout the community as well a 20+ mile system of interconnected walking trails and bike paths,
The Starwood partnership is Mattamy’s largest real estate commitment for its Orlando Division since the company acquired the 1,000+ lot Tapestry community (Kissimmee) in 2013. (Tapestry is Mattamy’s largest exclusive master-planned community in the US to date and opened for sale in 2016.)
Mattamy is a top-10 builder in Orlando (as measured by annual closings), with an inventory of approximately 5,000 lots. Over the past year, the company has closed on land deals valued at more than $35 million that have added nearly 2,000 lots to that inventory, and has seven major communities scheduled to open for sale in the coming months.
“This partnership is another example of Mattamy’s commitment to having a major presence in the Orlando market, and of the company’s confidence in the future of housing locally,” said Martin. “We have aggressive growth plans for the future and are very much looking forward to expanding our operations.”
