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Tel: +1 (905) 415-9267 or +350 200 400 48

Purchase signals optimism in Orlando housing market

17th Oct, 2012back

196 In a massive sign of optimism regarding the future of the housing market in Orlando, the whole of the remaining land in Randal Park ? a much sought after community ? has been purchased by Mattamy Homes.  The deal, which is believed to be worth as much as $18 million, closed on Friday 12th October this year and is perhaps the most significant purchase of land in Orlando for quite some time.


Mattamy has bought all of the 560 remaining lots, meaning that the firm now has a controlling interest in the popular community.  Currently, the approved land plan for the area is for 760 lots.  When the purchase of Randal Park is combined with the firm's purchase in Millennia Park earlier in 2012, it means that the company's recent commitment to the market in Orlando is as much as $30 million. This figure is at a level unlike that of any other builder, according to the president of Mattamy's US Group, Steve Parker.


"With the way the housing market has started to improve, we see the demographic projections in Orlando making it one of the strongest markets in the state of Florida in regards to employment and population growth," Parker says.  "Our Randal Park investment will provide Mattamy with the inventory that's needed to handle the demand we feel is going to occur as the market continues to improve."


Mattamy believes that its sales in Randal Park are set to start in the third quarter of next year, together with the opening of model homes. Closings are expected to take place by the close of 2013, with as many as four different company product lines to be featured in the community.