Industry Real Estate Website www.gdccommunities.com Founded 2001 Type of business Private | Founder Frank L. Thomas Headquarters San Diego Number of employees 30 | |
Key people Frank L. Thomas (CEO)
James Hammermeister (President)
Gina R. Papandrea (Executive VP & CFO) Products Real estate development | ||
GDC Communities is a private real estate investment and land developer based in the United States which originated from Genstar Development Company to facilitate US projects.
In 2000, Genstar formed GDC Communities to pursue new opportunities in the US, allowing Genstar to focus exclusively on the Canadian market. Today, both companies continue to operate independently but remain under common management out of the San Diego corporate office.
Over the years, GDC Communities fine-tuned Genstar's proven, disciplined approach to the U.S. market. GDC Communities formed partnerships with builders and developers on select assets to purchase, entitle, develop and build out residential communities. All told, GDC Communities and its affiliates have completed over 60 communities in Canada and the U.S.
History
The company’s origins date back to 1950 as BACM Industries founded by the Simkin Family. In 1970, the company first expanded into the United States. BACM Industries was sold in 1973 to Genstar Corporation and was renamed Genstar Development Company. Genstar Corporation was later acquired by Imasco Limited in 1986, and only retained Genstar Development Company which was the Canadian land development entity of Genstar Corporation.
In 1994, realizing the growth and land development opportunities in the United States, Genstar Development Company (Canada) and Genstar Land Company (USA) relocated the Corporate Office from Vancouver, British Columbia, Canada to San Diego, California.
GDC Communities was formed when senior management bought the company from British American Tobacco (BAT) taking the company private. GDC Communities operates under two initiatives: it owns Genstar Development Company and directs the development of the Canadian master planned communities, and secondly, it provides the foundation for the US investments and operations.