Deal reached to develop 1,900-home community in Alberta

Key Takeaways:

• Mattamy Homes and Truman have closed a deal to develop a 253-acre master-planned community in Chestermere, planning roughly 1,900 homes to be built over a 13-year period, marking Mattamy’s return to the market after a decade.
• The project will feature a mix of housing types along with retail, parks, environmental reserves and stormwater infrastructure, and is strategically located to provide access to Calgary and major employment areas.
• Development approvals are expected in spring 2027, construction is set to begin in summer 2028, first residents are anticipated in early 2029, and full buildout is targeted for late 2039.

The Whole Story:

Mattamy Homes and Truman have closed a deal to develop a 253-acre master-planned community on the south edge of Chestermere Lake, with plans to deliver approximately 1,900 homes over the next 13 years.

The deal closed on Jan. 20, 2026. Mattamy’s Alberta Division and Truman will co-manage the development, with Mattamy serving as the managing partner. The project marks Mattamy’s return to Chestermere for the first time since 2015, while Truman has worked in the community since 1988.

The proposed community will include a mix of single-family, semi-detached and townhomes, along with multi-family apartment buildings, commercial retail, park spaces, more than 10 acres of environmental reserve and two landscaped storm ponds. The site is located south of Chestermere Lake with Rainbow Road as its western boundary and Township Road 240 along the south, offering access to Calgary and major employment hubs.

“Chestermere is an exciting market for us, and we’re pleased to be returning after a decade away,” said Collin Campbell, President of Mattamy’s Alberta Division, in a news release. “This partnership allows us to combine Truman’s strong local presence with our experience delivering well-planned communities across Alberta.”

George Trutina, President of Truman, added: “We’re pleased to partner with Mattamy on a project of this scale and significance. Chestermere has been an important part of our story for many years, dating back to our earliest developments in the community in the late 1980s.”

Development approvals are expected in spring 2027, with home construction anticipated to begin in summer 2028. The first homeowners are expected to move in early 2029, with the full community completion targeted for late 2039.

Mattamy Homes is the largest family-owned homebuilder in North America with operations across Canada and the United States. Truman is an Alberta-based family-owned developer and builder with more than 40 years of experience in the Calgary region.