What Happened to Mattamy Homes?
Mattamy Homes is North America's largest privately owned homebuilder, founded in 1978 by Peter Gilgan. The company operates across Canada and the United States, focusing on creating complete communities and helping over 8,000 families annually achieve homeownership. In response to market shifts, Mattamy is currently pivoting towards prefabricated, missing-middle housing and expanding its presence in key growth markets across the U.S. and Canada.
Quick Answer
Mattamy Homes continues to be North America's largest privately owned homebuilder, actively expanding its footprint across various U.S. and Canadian markets as of April 2026. The company is strategically adapting to market demands by investing in prefabricated housing solutions and focusing on multi-unit, family-oriented developments. Recent activities include significant land acquisitions in Florida and Arizona, new community launches, and receiving awards for energy efficiency and workplace culture, despite facing a prolonged real estate downturn in some regions.
📊Key Facts
📅Complete Timeline14 events
Company Founded
Peter Gilgan founds Mattamy Homes in Toronto, Canada, starting with the construction and sale of a single home.
Donation to Ryerson University
Peter Gilgan donates $15 million to Ryerson University (now Toronto Metropolitan University) to create the Mattamy Athletic Centre.
Donation to The Hospital for Sick Children
Peter Gilgan donates $40 million to The Hospital for Sick Children for its Centre for Research and Learning.
Customer Complaints Surface
Mattamy Homes faces public criticism and media reports regarding homeowners in Ontario being forced to take possession of homes with significant deficiencies.
Mattamy Asset Management Founded
Peter Gilgan creates Mattamy Asset Management Inc. as the parent company for Mattamy Homes and other diversified investments.
Largest Healthcare Benefactor Donation
Peter Gilgan donates $100 million to The Hospital for Sick Children in Toronto, becoming Canada's largest healthcare benefactor at the time.
Historic Donation to Trillium Health Partners
Peter Gilgan donates $105 million to Trillium Health Partners, the largest donation to a Canadian hospital in history, for the 'Peter Gilgan Mississauga Hospital' and Queensway Health Centre expansion.
Lawsuits Over Construction Concerns
Reports indicate over 100 lawsuits filed statewide against Mattamy Homes in Florida, alleging systemic defects and deficiencies in construction.
Announces FY2025 Operating Results
Mattamy Group Corporation announces its fourth-quarter and full-year operating results for fiscal year 2025, reporting $6.40 billion in revenue and 8,453 homes closed.
Announces Q2 2026 Operating Results
Mattamy Group Corporation announces second-quarter operating results for the period ended November 30, 2025, with revenue increasing 20.6% to $1.41 billion and homes closed increasing 16.1% to 1,865.
Expands Tucson Footprint
Mattamy Homes closes two land deals in the greater Tucson area, acquiring phase two of Mountain View Ranch and the new Stone House community, expanding its presence in key growth submarkets.
Recognized with ENERQUALITY Awards
Mattamy Homes receives three honors at the 2026 ENERQUALITY Building Innovation & Awards, highlighting its leadership in energy efficiency and innovative communities.
Closes on Pasadena Ridge Land
Mattamy Homes closes on homesites in Pasadena Ridge, a new master-planned community in Zephyrhills, FL, with sales for Mattamy's homes beginning April 18, 2026.
Pivot to Prefabricated Housing
Mattamy Homes announces a strategic pivot to prefabricated, missing-middle housing, including building a 470,000-square-foot factory near Toronto to scale production and improve affordability.
🔍Deep Dive Analysis
Mattamy Homes was founded in 1978 in Toronto by Peter Gilgan, growing from a single home sale into North America's largest privately owned homebuilder. The company's name is a portmanteau of Gilgan's two oldest children, Matt and Amy. Mattamy's business model encompasses land acquisition, community design and development, and housing construction, with a strong emphasis on creating complete, enduring communities.
Peter Gilgan, who remains the Chairman & CEO of Mattamy Asset Management (the parent company of Mattamy Homes), has been a significant figure in Canadian philanthropy, donating over $500 million to various causes, including healthcare, education, and athletics. His business acumen led Mattamy to expand significantly, establishing a presence in 11 U.S. markets and across major Canadian cities like Toronto, Ottawa, Calgary, and Edmonton.
In recent years, Mattamy Homes has navigated a dynamic real estate market. The company reported its second-quarter 2026 operating results (for the period ending November 30, 2025) with revenue increasing by 20.6% to $1.41 billion and homes closed increasing by 16.1% to 1,865 compared to the prior year quarter. However, net sales orders and sales order backlog saw decreases, reflecting broader market challenges. For the full fiscal year 2025 (ending May 31, 2025), revenue and homes closed remained relatively stable, while net sales orders decreased by 13.0%.
A key strategic pivot for Mattamy Homes in 2026 is its move into prefabricated, 'missing-middle' housing, particularly in Canada, to address affordability and market downturns. The company is building a 470,000-square-foot factory near Toronto Pearson International Airport to produce thousands of prefab homes annually, with initial projects launching in Mississauga. This strategy aims to scale production and improve affordability, focusing on multi-unit, family-oriented housing in six-storey formats.
Geographically, Mattamy continues to expand its presence. In March 2026, the company closed on homesites in Pasadena Ridge, Zephyrhills, Florida, with sales commencing in April 2026. Also in March 2026, Mattamy expanded its Tucson, Arizona footprint with two new land acquisitions: phase two of Mountain View Ranch and the new Stone House community, with homesites expected to be available in April and a grand opening anticipated in December 2026, respectively. In January 2026, Mattamy acquired Baker Farms in Phoenix, Arizona, for 83 single-family homesites and nearly 300 lots in the Tampa Bay region, planning 279 homes across three sites.
Despite its growth, Mattamy Homes has faced customer complaints regarding construction defects and warranty issues, leading to lawsuits in some regions, such as Florida in April 2024. The company has also been recognized for its commitment to sustainability and energy efficiency, receiving three honors at the 2026 ENERQUALITY Building Innovation & Awards. Mattamy Home Funding was also named the #1 Best Mortgage Company to Work For by National Mortgage News in March 2026.
What If...?
Explore alternate histories. What if Mattamy Homes made different choices?