Valley National Bancorp Supports Mattamy Homes’ Phoenix Expansion with Baker Farms Purchase

### Mattamy Homes Expands Presence in Phoenix with Baker Farms Acquisition

Mattamy Homes, the largest family-owned homebuilder in North America, reinforces its position in the Arizona housing market with the acquisition of Baker Farms, a new residential community in Phoenix. The deal, valued at $13.4 million, is finalized on December 10, 2025, and marks a significant step in the company’s strategic expansion plans. Located at the northwest corner of 79th Avenue and McDowell Road, Baker Farms is ideally situated just under a mile from Interstate 10 and approximately 10 miles from Downtown Phoenix. This prime location not only enhances accessibility for future residents but also connects them to a plethora of recreational and entertainment options.

The Baker Farms development will comprise 83 single-family homesites, showcasing eight distinct floorplans that range from 1,313 to 2,490 square feet. The homesites average 40 by 110 feet, catering to families seeking spacious living arrangements. Matthew Arneson, Vice President of Land Acquisition for Mattamy's Phoenix Division, expresses excitement about collaborating with Richmond American Homes to bring this community to life. The design of Baker Farms prioritizes family-friendly amenities, including a 4,500-square-foot splash pad, picnic areas equipped with charcoal grills, and a playground, creating an inviting environment for families to thrive.

This acquisition aligns with Mattamy Homes' long-term growth strategy by introducing a new product line tailored to modern buyers' preferences. Don Barrineau, President of Mattamy's Phoenix Division, emphasizes that the community’s offerings will attract buyers looking for spacious homes combined with outdoor amenities and convenient access to shopping, dining, and employment centers. Sales for Baker Farms are projected to commence in spring 2026, with potential closings beginning as early as that summer, signaling a promising addition to the local housing market.

In addition to enhancing its portfolio in Phoenix, Mattamy Homes continues to target regions that demonstrate strong growth potential. The company's commitment to developing family-oriented communities reflects its understanding of current market demands, where homebuyers increasingly seek environments that foster both community engagement and convenience.

As the housing market evolves, Mattamy Homes' strategic investments, like the acquisition of Baker Farms, position the company to meet the growing demand for quality residential options in urban areas. This development not only underscores the company's ambition but also reinforces its commitment to providing homes that cater to the needs of modern families.