The Minto Group is a Canadian real estate company, based in

Ottawa Ottawa (, ; Canadian French: ) is the capital city of Canada. It is located at the confluence of the Ottawa River and the Rideau River in the southern portion of the province of Ontario. Ottawa borders Gatineau, Quebec, and forms the core ...

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. It builds homes in Ottawa, Toronto, Calgary, and

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, a ...

. It also manages multi-residential and commercial properties in Ontario and Alberta. It has built 85,000 new homes, and manages $2.9 billion in assets, including 13,000 multi-residential units and 2.7 million square feet of commercial space. The firm is one of Ottawa's largest residential landlords. Minto also has a publicly traded subsidiary, holding some of its multi-residential units, called Minto Apartment

Real Estate Investment Trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping ce ...

. Minto is also partners with Dellray Group, another leading real estate developer.

History

Minto Group was founded in 1955 by Gilbert, Irving,

Lorry A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame constructi ...

and Louis Greenberg, as a home builder. It was originally called Mercury Homes, but renamed itself Minto Construction Company in 1957. Its first large development was Parkwood Hills in Nepean in partnership with Westmore Investments. As part of that development, Minto built Canada's first high-rise condominium, Horizon House on Meadowlands Drive. The firm developed a number of other subdivisions in the Ottawa area in the 1960s and 1970s; in 1971, three quarters of construction in Nepean was by Minto. In the early 1980s, the firm expanded to Florida. In 1991, Roger Greenberg, son of Gilbert, became CEO, after the death of his uncle Irving. In 2013, Michael Waters, who is not part of the Greenberg family, became CEO. In May 2018, Minto announced it would hold an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

for its Canadian multi-residential properties. The properties became part of a new entity, Minto Apartment Real Estate Investment Trust (REIT), which Minto Group continues to have a significant ownership stake in. The trust would initially own 4279 rental suites, 72% of which would be in Ottawa, with the intention of eventually holding all of Minto's 13,000 multi-residential units. Minto Group held the IPO in part to provide money to Minto's owners, the Greenberg family. Minto raised $200 million in the IPO, which took place on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in th ...

. The IPO took place on June 29, 2018, with an initial price of $14.50 per share, and under the share symbol MI.UN.

Business

Minto Group is divided into three divisions: * Minto Apartments manages multi-residential and commercial properties, some of which have been built by Minto. Minto Apartments owns 57% of Minto Apartment Real Estate Investment Trust. * Minto Communities Canada is a home builder in Ottawa, Toronto, and Calgary. It has built 60,000 homes over its history. It builds both low-rise and high-rise housing, and in recent years has been building more luxury rental projects. In 2015, Minto was the largest home builder in Ottawa, with 913 homes built, and 24 percent of the market. * Minto Communities USA is a Florida home builder. It has built 25,000 homes over its history. It was ranked as the 56th largest home builder in the United States in 2016. The Greenberg family, who founded and still controls the Minto Group, was listed as the 74th richest people in Canada in 2017, according to Canadian Business. Minto has been involved in a number of controversial developments, including Minto Mahogany in Manotick, the

Minto Midtown The Minto Midtown is a residential complex on Yonge Street in Toronto in the Davisville neighbourhood near Yonge and Eglinton consisting of two towers, Quantum (37 storeys) and Quantum 2 (52 storeys) developed by Minto Developments Inc. The p ...

in Davisville, Potter’s Key in Stittsville, and Minto West in Palm Beach. Minto has also been involved in a number of controversies in its role as a landlord. There have been complaints about the company's proposed rent increases. Minto's 2017 decision to charge for visitor parking in its Ottawa buildings also angered some tenants.

Notable Developments

Neighbourhoods

* Parkwood Hills in

Nepean Nepean may refer to: Places Australia *Nepean Bay, a bay in South Australia, ** Nepean Bay Conservation Park, a protected area in South Australia, ** Nepean Bay, South Australia, a locality *Nepean Highway, Victoria *Nepean Island (Norfolk Islan ...

was built by Minto in the late 1950s and early 1960s. * Crystal Beach in Nepean was built starting in 1961. * Briargreen was built starting in 1966. * Bayshore, Canada's first rental community, was built by Minto in the 1960s. *

Tanglewood Tanglewood is a music venue in the towns of Lenox and Stockbridge in the Berkshire Hills of western Massachusetts. It has been the summer home of the Boston Symphony Orchestra since 1937. Tanglewood is also home to three music schools: the ...

was started in 1970. *

Chapel Hill Chapel Hill or Chapelhill may refer to: Places Antarctica *Chapel Hill (Antarctica) Australia * Chapel Hill, Queensland, a suburb of Brisbane * Chapel Hill, South Australia, in the Mount Barker council area Canada *Chapel Hill, Ottawa, a neighbo ...

in Orleans was largely built by Minto. *

Centrepointe Centrepointe is a neighbourhood in College Ward in the west end of the city of Ottawa, Ontario, Canada. It was formerly part of the city of Nepean. It is a newer residential subdivision in the west/central part of Ottawa, developed from 1984 onwa ...

in Nepean was largely built by Minto * Morgan's Grant in Kanata was largely built by Minto. *

Avalon Avalon (; la, Insula Avallonis; cy, Ynys Afallon, Ynys Afallach; kw, Enys Avalow; literally meaning "the isle of fruit r appletrees"; also written ''Avallon'' or ''Avilion'' among various other spellings) is a mythical island featured in th ...

in Orleans was partly built by Minto.

Buildings

* The Minto Metropole is the second tallest building in Ottawa. It was completed in 2004. * The

, a controversial residential complex in the Davisville neighbourhood of Toronto, was completed in 2007.

References

{{Reflist

External links

Minto Timeline
Companies based in Ottawa Real estate companies of Canada Home builders Construction and civil engineering companies established in 1955 1955 establishments in Ontario Real estate companies established in 1955 Canadian companies established in 1955