NORTH PORT, Florida (AP) - Canada's largest home builder plans to team up with a Sarasota developer and land buyer to construct more than 11,000 homes in southern Sarasota County.
The Herald-Tribune reports Mattamy Homes paid $86.25 million for Thomas Ranch, a 9,650-acre tract in and around North Port.
Development is expected to begin in 2016 and span 20 to 25 years, with 700 to 2,000 homes built at a time.
The property has already been approved for more than 11,000 homes and 3 million square feet of commercial space.
Thomas Ranch also marks the largest real estate purchase for Mattamy in its 10 years of operating in the United States.