Minto Group
 | |
 The Minto Metropole, built by Minto | |
| Company type | Private Company |
|---|---|
| Industry | Real estate |
| Founded | 1955 |
| Headquarters | , Canada |
Key people | Michael Waters (CEO) Roger Greenberg (Executive Chairman) |
| Owner | The Greenberg Family |
Number of employees | 1,200 (2017) |
The Minto Group is a Canadian real estate company, based in Ottawa, Ontario. It builds homes in Ottawa, Toronto, Calgary, and Florida. It also manages multi-residential and commercial properties in Ontario and Alberta. It has built 80,000 new homes[1], and manages $2.9 billion in assets, including 15,000 multi-residential units and 2.7 million square feet of commercial space.[2] The firm is one of Ottawa's largest residential landlords.[3]
History
Minto was founded in 1955 by Gilbert, Irving, Lorry and Louis Greenberg, as a home builder.[4] 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 Investements.[5] As part of that development, Minto built Canada's first high rise condominium, Horizon House on Meadowlands Drive.[1] 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.[5]
In the early 1980s, thefirm expanded to Florida.[6]
In 1991, Roger Greenberg, son of Gilbert, became CEO, after the death of his uncle Irving.[6]
In 2012, Michael Waters, who is not part of the Greenberg family, became CEO.[6]
Business
The Minto Group is divided into three divisions:
- Minto Properties manages multi-residential and commercial properties, some of which have been built by Minto.
- 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.[7] In 2015, Minto was the largest home builder in Ottawa, with 913 homes built, and 24 percent of the market.[8]
- Minto Communities USA is a Florida home builder. It has built 25,000 homes over its history.[9] It was ranked as the 56th largest home builder in the United States in 2016.[9]
The Greenberg family, who founded and still control the Minto Group[6], were listed as the 74th richest people in Canada in 2017, according to Canadian Business.[4]
Minto has been involved in a number of controversial developments, including Minto Mahogany in Manotick,[10] the Minto Midtown in Davisville,[11] Potter’s Key in Stittsville,[12] and Minto West in Palm Beach.[13]
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.[14] Minto's 2017 decision to charge for visitor parking in its Ottawa buildings also angered some tenants.[15]
Notable Developments
Neighborhoods:
- Parkwood Hills in Nepean was built by Minto in the late 1950s and early 1960s.[8]
- Crystal Beach in Nepean was built starting in 1961.[5]
- Briargreen was built starting in 1966.[5]
- Bayshore, Canada's first rental community, was built by Minto in the 1960s.[8]
- Tanglewood was started in 1970.[5]
- Chapel Hill in Orleans was largely built by Minto.[8]
- Centrepointe in Nepean was largely built by Minto
- Morgan's Grant in Kanata was largely built by Minto.[8]
- Avalon in Orleans was partly built by Minto.
Buildings:
- The Minto Metropole is the second tallest building in Ottawa.[16] It was completed in 2004.
- The Minto Midtown, a controversial[17][11] residential complex in the Davisville neighbourhood of Toronto, was completed in 2007.
References
- ^ a b Willing, Jon (20 August 2017). "The Capital Builders: How the Greenbergs mix business, philanthropy and sports". Ottawa Citizen. Retrieved 5 January 2018.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "About The Minto Group - Our Organization and Capabilities | Minto". www.minto.com. Retrieved 5 January 2018.
- ^ "Minto paid $94.55M for Craig Henry community: records | Ottawa Business Journal". www.obj.ca. Retrieved 9 March 2018.
- ^ a b "Canada's Richest People: The Greenberg Family". Canadian Business - Your Source For Business News. 24 December 2015. Retrieved 5 January 2018.
- ^ a b c d e Elliott, Bruce (1990). The City Beyond: A History of Nepean, Birthplace of Canada's Capital 1792-1990. the City of Nepean. pp. 277–279. ISBN 1-55036-258-5.
- ^ a b c d Bagnall, James (9 October 2013). "Minto No Longer All in the Family". The Ottawa Citizen.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ Lorinc, John (8 December 2016). "Builders flock to high-end rental development". The Globe and Mail. Retrieved 5 January 2018.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ a b c d e Langston, Patrick (5 June 2015). "Minto Communities marks 60th anniversary". Ottawa Citizen. Retrieved 5 January 2018.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ a b Goodman, Jennifer (25 May 2016). "Minto announces three new large-scale communities". BuilderOnline.com. Retrieved 5 January 2018.
{{cite web}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Controversial Manotick development gains provincial approval". CTV News Ottawa. 10 April 2009. Retrieved 9 March 2018.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ a b "Residential skyscraper rising in shadow of controversy". The Globe and Mail. 3 October 2003. Retrieved 9 March 2018.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Ottawa committee to vote on controversial Stittsville subdivision plan | Ottawa Business Journal". www.obj.ca. Retrieved 9 March 2018.
- ^ "Palm Beach County board endorses Minto West plan in 5-2 vote". mypalmbeachpost. 27 August 2014. Retrieved 9 March 2018.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Minto tenants say rent hike 'not justified'". The Ottawa Citizen. 30 January 2002.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "'Absolutely ludicrous': Minto tenants upset visitors will have to pay for parking". Ottawa Citizen. 30 September 2017. Retrieved 9 March 2018.
- ^ "Ottawa - High-Rise Buildings (all)". Emporis.com. Retrieved 26 August 2009.
- ^ Moore, Aaron A. (2013). Planning politics in Toronto : the Ontario Municipal Board and urban development. Toronto: University of Toronto Press. p. 1999–. ISBN 978-1-4426-4423-6. Retrieved 18 May 2017.