The Real Deal Miami

Mattamy Homes buys site near Lake Worth for resi community

Development includes 150 houses, 35 workforce housing units
By Amanda Rabines | June 15, 2018 10:30AM

Gulfstream Polo Club and Mattamy Homes CEO Peter Gilgan (Credit: Atlantic Western Realty Corp. and Mattamy Homes)

Mattamy Homes is on a roll.

The Canadian home builder paid about $12 million for a 37-acre development site at the former entrance of the Gulfstream Polo Club west of Lake Worth.

The deal comes on the heels of its $5.5 million purchase of 39 lots that will be part of its Enclave at Boynton Waters single-family home development in Boynton Beach.

Lake Worth Road Investors LLC, led by Robert Lipman of Nashville, sold the property to Mattamy Homes. Lipman’s company paid $1.52 million for the site in 1999. It sits on the southwest corner of Polo Road and Lake Worth Road.

Tony Palumbo, director of land acquisitions for Mattamy’s Southeast Florida division, said the company will build 150 single-family homes and 35 workforce housing units. Mattamy is also planning to build a mixed-use project on about 11 acres within the property, Palumbo said.

Other home builders are building residential communities next to Mattamy’s site, including Pulte Group and Lennar Corp.