Genstar Development Company (Canada) is a
real estate development
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parce ...
company that creates master planned communities throughout
Canada
Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...
. Genstar has a history dating back over 50 years developing thousands of acres into some of the most recognized communities across Canada. Today, Genstar has active projects in Calgary, Edmonton and Winnipeg.
History
The company's origins date back to 1950 as BACM Industries founded by the Simkin Family in
Winnipeg
Winnipeg () is the capital and largest city of the Provinces and territories of Canada, Canadian province of Manitoba. It is centred on the confluence of the Red River of the North, Red and Assiniboine River, Assiniboine rivers. , Winnipeg h ...
. In 1973, BACM Industries was sold to Genstar Corporation and was renamed Genstar Development Company. At that time, the Company operated in Winnipeg, Edmonton, Calgary, and Vancouver. Soon after, operations were added in Toronto and then Ottawa. In the late 1970s the Company also started operations in the United States.
In 1986, Genstar Corporation was acquired by Imasco Limited. By 1991, Genstar had active development operations in Minnesota, San Diego, Los Angeles, Portland, Tampa, Atlanta and Houston - all under the banner of Genstar Land Company.
In 1999, senior management orchestrated a management buyout and acquired the assets of Genstar in Canada and formed
GDC Communities in the United States. GDC Communities plays two roles, it owns Genstar Development Company (Canada) and directs the development of its Canadian master planned communities, and secondly, it provides the foundation for the US investments and operations.
External links
Genstar(company website)
References
{{Reflist
Real estate companies of Canada