Mattamy Homes and Truman are partners once again, teaming up this time for a large master-planned community in Chestermere, just outside of Calgary.

“Together, ourselves with Truman, we are planning about 1,900 houses," Joe Case, vice-president of land development for Mattamy Homes’ Alberta Division told RENX. "Housing types will include single-family homes, semi-detached houses, townhomes and multi-family, four- to six-storey options,”

Spanning 253 acres on the south side of Chestermere Lake in the suburban Alberta city, the development is expected to be ready for the first move-ins by 2029, he said.

Both developers have worked on “vertical multifamily projects” in the past, according to Case, such as Yorkville and Cityscape in Calgary, and are hoping to continue what has been a fruitful relationship for the family-owned companies. They are 50/50 partners on this project.

The Mattamy-Truman partnership

“We’ve got a tremendous amount of respect for Truman and for what they do. Both the Mattamy and the Truman team(s) saw the potential to build a long-term, thoughtfully planned community in Chestermere and we jumped at the opportunity,” Case said.

“We’ve done a few projects together over the past few years, and through that collaboration, we discovered that our approach to community design and desire to bring high-quality homes to buyers in the Calgary region is well aligned.”

Each firm will bring its unique skills to complete the project, he said.

“From our perspective, Mattamy brings a deep experience in designing and delivering large, multi-phased, master-plan communities throughout the province, and Truman brings strong local knowledge and decades of building in the municipality.”

Truman's history in Chestermere

Truman will be returning to one its earliest communities. “They’ve been developing in Chestermere since 1988,” Case said. It was also the first developer in the city to build an asphalt road along with streetlights in the 1990s.

“Like the owner often says, that when he first came to Chestermere, there were 300 cottages around the lake, and now it’s a city of over 30,000 people. They’re really proud of the city, proud of the community; they’ve played a big role in growing it.”

The partnership will be a “collaborative partnership in all aspects of the development and home building,” according to Case.

“Mattamy and Truman will co-manage the design, municipal approvals and construction of the community, and then Mattamy and Truman’s home-building teams will work together to draw potential buyers to the site and then we’ll ensure that we’ve got a diverse enough product offering to meet all the needs of potential purchasers.”

Both developers equally own the partnership company that owns the property, Case explained. Mattamy will act as the managing partner.

Construction could begin in 2027

While the “decade-long project” isn't expected to be complete until roughly 2039, the firms hope to get it off the ground next year.

“We’ve done background work to date; started some initial discussions with the City of Chestermere, but we expect to receive our development approvals in spring of 2027, so probably 12 to 14 months away. Home construction is then planned to begin in the summer of 2028,” Case said.

Other planned features of the community include retail space, parks and over 10 acres of environmental reserve space, along with two storm ponds.

For Mattamy, investing in one of the fastest-growing communities in Alberta made the decision to build easy. “There’s a lot of demand for housing in the area as a result of the amenity-rich community that Chestermere is,” Case said.

As well, Case pointed to infrastructure investments by the city and surrounding areas such as Rocky View County, and the city of Calgary, as offering even more reasons to build.

“There’s a couple large employment hubs that are being planned... south of the site and so we think that the area is right for development, with lots of jobs and employment opportunities coming to the area hopefully within the next five years.”

While he couldn’t provide a pricing range, the “goal is always to bring the most affordable product to market as possible."

Wide range of potential new residents

For now, they are keeping their options open in regards to target buyers.

“We’re trying to cast the net as wide as possible. Chestermere is an attractive, amenity-rich community and so we want to hit all ends of the buyer spectrum," he said, "from your starter, first-time home buyers, all the way up to your estate-style residential.”

Investing in a “rapidly changing” Alberta market is a no-brainer for the developers. “I would describe it as active, but buyers are taking more time and being thoughtful. They’ve got a lot more choice, but the buyers are still out there,” Case said.

While affordability is always top of mind when considering development challenges, the firms are also looking at ways to enhance their offerings.

“We want to make sure that we include things in our homes and communities that add value. Sometimes it’s not about the bottom line but if you can add solar panels or ENERGY STAR, you reduce the operating costs for people,” he said.

Mattamy is also considering more secondary suites which are a hot commodity in the Calgary market, Case said.

“They are extremely popular because they (offer) that potential income that allows people to afford an entry-level product that they may not otherwise have been able to."