Major New Master-Planned Community Announced for Chestermere
Exciting growth continues just east of Calgary. Two respected family-owned builders — Mattamy Homes and Truman — have joined forces to develop a large-scale, 253-acre master-planned community on the southern edge of Chestermere, near the shores of Chestermere Lake.
The land acquisition officially closed on January 20, 2026, setting the stage for what is expected to become one of the most significant residential developments in the region over the next decade.
What Is Planned?
The vision for the new community includes approximately 1,900 homes, offering a broad mix of housing types to appeal to a wide range of buyers:
- Single-family detached homes
- Semi-detached homes
- Townhomes
- Multi-family apartment buildings
In addition to residential options, the master plan incorporates:
- Neighbourhood commercial and retail spaces
- Thoughtfully designed parks and green corridors
- Over 10 acres of environmental reserve
- Two landscaped stormwater ponds
- Pedestrian-friendly streetscapes
The location is strategically positioned south of Chestermere Lake, bordered by Rainbow Road to the west and Township Road 240 to the south. Residents will benefit from convenient access to Calgary, major transportation corridors, and key employment hubs.
A Return and a Reinforcement
This project marks a return to Chestermere for Mattamy, which last developed in the area in 2015. Truman, meanwhile, brings decades of local development experience dating back to the late 1980s and has played a longstanding role in shaping the Chestermere community.
The two builders will co-manage the project, with Mattamy acting as the managing partner. Their collaboration combines national-scale planning expertise with strong local knowledge — an approach that typically results in well-coordinated, infrastructure-supported communities.
Timeline and Phasing
While still in the planning stages, the anticipated development timeline is as follows:
- Spring 2027 – Expected development approvals
- Summer 2028 – Initial home construction begins
- Early 2029 – First homeowners take possession
- Late 2039 – Projected full community build-out
This long-term horizon reflects the scale of the project and the phased delivery required for infrastructure, amenities, and residential construction.
What This Means for the Calgary & Chestermere Market
Chestermere continues to rank among Alberta’s fastest-growing municipalities. With proximity to Calgary, lake access, and increasing retail and school amenities, it remains attractive to families, professionals, and investors alike.
Large master-planned communities like this often influence:
- New construction pricing benchmarks
- Rental inventory growth (particularly townhomes and apartments)
- Long-term resale values in surrounding neighbourhoods
- Demand for property management services as investor activity increases
From an investment standpoint, projects of this scale typically create opportunities for both end-users and rental portfolio expansion.
Final Thoughts
This partnership represents a significant step in the continued growth of Chestermere. With nearly 1,900 homes planned across a thoughtfully designed 253-acre site, the development is poised to shape the city’s southern edge for years to come.
As development approvals move forward, we will continue to monitor how this project may impact both homeownership and rental trends in the broader Calgary region.
If you’re considering investing in new construction or expanding your rental portfolio in Chestermere or Calgary, understanding the timing and absorption of communities like this is key to making informed decisions.
