Minto Group
Developer in Ottawa, Canada From Wikipedia, the free encyclopedia
Minto Group is a Canadian real estate company based in Ottawa, Ontario. It builds homes in Ottawa, Toronto, Calgary, Florida, and South Carolina and manages multi-residential and commercial properties in Ontario, Alberta and British Columbia. As of 2024, Minto has built 100,000 new homes,[1] and manages $2.9 billion in assets, including 13,000 multi-residential units and 2.7 million square feet of commercial space.[2][3] The firm is one of Ottawa's largest residential landlords.[4] Minto also has a publicly traded subsidiary, holding some of its multi-residential units, called Minto Apartment Real Estate Investment Trust. Some of Minto's joint-venture partners have been with Lasalle Investment Management, Greystar, and CPPIB.
 | |
| Company type | Private Company |
|---|---|
| TSX: MI.UN | |
| Industry | Real estate |
| Founded | 1955 |
| Headquarters | , Canada |
Key people | Michael Waters (CEO) Roger Greenberg (Executive Chairman) |
| Owner | The Greenberg Family |
Number of employees | 1500 (2025) |
| Website | https://www.minto.com/ |
History
Summarize
Perspective
Minto Group was founded in 1955 by Gilbert, Irving, Lorry and Louis Greenberg, as a home builder.[5] 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.[6] 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.[6]
In the early 1980s, the firm expanded to Florida.[7]
In 1991, Roger Greenberg, son of Gilbert, became CEO, after the death of his uncle Irving.[7]
In 2001, Minto completed the first Minto Dream Home for the Children’s Hospital of Easter Ontario (CHEO) Dream of a Lifetime Lottery.
In 2008, Minto built Canada’s first Net Zero Inspiration Home.[8]
In 2013, Michael Waters, who is not part of the Greenberg family, became CEO.[7]
In 2016, Minto became the title sponsor of the Minto U.S. Open Pickleball Championships Powered by Margaritaville held in Naples, Florida. The U.S. Open has since become the largest annual pickleball event in the world, with over 50,000 spectators in 2024.[9]
In 2017, Minto Communities and Margaritaville Holdings announce a partnership to develop active adult communities, Latitude Margaritaville, with first location in Daytona Beach.[10]
In May 2018, Minto announced it would hold an IPO for its Canadian multi-residential properties.[11] 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.[12] The IPO took place on June 29, 2018, with an initial price of $14.50 per share, and under the share symbol MI.UN.[13]
Named one of Canada’s Best Managed Companies in 2024.[14]
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.[13]
- 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.[15] In 2015, Minto was the largest home builder in Ottawa, with 913 homes built, and 24 percent of the market.[16]
- Minto Communities USA is a Florida home builder. It has built 25,000 homes over its history.[17] It was ranked as the 56th largest home builder in the United States in 2016.[17]
The Greenberg family, who founded and still controls the Minto Group,[7] was listed as the 74th richest people in Canada in 2017, according to Canadian Business.[5]
Minto has been involved in a number of controversial developments, including Minto Mahogany in Manotick,[18] the Minto Midtown in Davisville,[19] Potter’s Key in Stittsville,[20] and Minto West in Palm Beach.[21]
Recent Awards
Summarize
Perspective
2024
- 13th among the Top 100 Private Home Builders in the USA[22]
- Canada Green Building Council's (CAGBC) LEED Gold Certification achieved at Era in Calgary[23]
- Best Design Centre at the 2023 BILD Calgary Region Awards[24]
- One of Canada’s Best Managed Companies[25]
- Best Production Net Zero Home at the 2024 Canadian Home Builders' Association (CHBA) Awards[26]
- 37th on Builder magazine's 2024 annual Builder 100 list in the USA[27]
- 2024 Oakville Hydro Sustainability Leader of the Year at the 29th annual Oakville Awards for Business Excellence Awards[28]
- Avid Gold Award winner as production builder in Alberta with the highest customer ratings on the New Home Move-In Experience Survey[29]
- 2024 Ontario Home Builders' Association (OHBA) Awards for Best Back-to-Back Townhome Unit and Green Building[30]
- Westlake and Latitude Margaritaville Watersound recognized among the Top 50 Master-planned Communities by RCLCO Real Estate Consulting[31]
- Winner of the 2024 Greater Ottawa Homebuilder's Association (GOHBA) Production Builder of the Year award for the 2023 Minto Dream Home for the Children's Hospital of Eastern Ontario (CHEO)[32]
- Winner of the 2024 Federation of Rental-housing Providers of Ontario (FRPO) MAC Award for Outstanding Company Culture[33]
- Reputation 800 Awards Winner[34]
Notable Developments
Neighbourhoods
- Parkwood Hills in Nepean was built by Minto in the late 1950s and early 1960s.[16]
- Crystal Beach in Nepean was built starting in 1961.[6]
- Briargreen was built starting in 1966.[6]
- Bayshore, Canada's first rental community, was built by Minto in the 1960s.[16]
- Tanglewood was started in 1970.[6]
- Chapel Hill in Orleans was largely built by Minto.[16]
- Centrepointe in Nepean was largely built by Minto
- Morgan's Grant in Kanata was largely built by Minto.[16]
- Avalon in Orleans was partly built by Minto.
Buildings
- The Minto Metropole is the second tallest building in Ottawa.[35] It was completed in 2004.
- The Minto Midtown, a controversial[36][19] residential complex in the Davisville neighbourhood of Toronto, was completed in 2007.
References
External links
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