CHESTERMERE, ALTA. – Builders and have teamed up to create a brand-new 253-acre master-planned community on the south edge of Chestermere Lake in the City of Chestermere, Alta.
With the deal officially closing on Jan. 20, the two will deliver approximately 1,900 homes. According to a release, the proposed plan includes a mix of single family, semi-detached and townhomes along with multi-family apartment buildings, commercial retail conveniences, park spaces, more than 10 acres of environmental reserve and two landscaped storm ponds.
Located south of Chestermere Lake with Rainbow Road as its western boundary and Township Road 240 along the south, the future community centred around a lake-inspired lifestyle with quick access to Chestermere Lake.
Mattamy’s Alberta Division and Truman will co‑manage the development, with Mattamy serving as the managing partner.
Development approvals are expected for the spring of 2027, with home construction anticipated to begin in the summer of 2028 and the first homeowners moving in early 2029. The full community is expected to be completed by late 2039.
The project marks Mattamy’s return to Chestermere for the first time since 2015, while Truman local experience, built over decades of work in the community since its first Chestermere development in 1988, the release notes. Truman was also the first developer in Chestermere to construct an asphalt road with streetlights in the early 1990s.
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