Genstar Development Company origins date back to 1950 as BACM Industries, founded by the Simkin Family in Winnipeg. 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 was acquired by Imasco Limited and the U.S operations were sold. By 1991, Genstar again added active development operations in Minnesota, San Diego, Los Angeles, Portland, Tampa, Atlanta and Houston - all under the banner of Genstar Land Company. During that time, Genstar pioneered innovative master-planned communities in both Canada and the United States, including development of some of North America’s finest master-planned lake and golf communities.
In 2001, the U.S. operations were again sold and the senior management completed a management buyout to acquire Genstar in Canada and form GDC Communities in the United States. Since that time, Genstar’s investments and operations have been highly successful. The Company has delivered some of North America's most desirable communities that offer innovative leisure amenities, lasting value, community pride and a significant enhancement to homebuyers' quality of life.
Although active in the United States since 2001, starting in 2008 the company embarked on a more aggressive acquisition strategy in California and Atlanta. Since then, Genstar has transitioned in the U.S. through changing market conditions from a buyer of distressed real estate to a buyer of quality assets and at times an equity source to others where innovative structures help our partners grow their businesses while delivering value to our investors.
Today, the company operates in five robust and geographically diverse regions; Calgary, Winnipeg, Edmonton, California and Atlanta. With over 70 projects and 20,000+ future residential units, Genstar and GDC Communities are operated under the guidance of the San Diego, California corporate office.