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Minto Group

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Minto Group
Company typePrivate
IndustryReal estate
Founded1955
Headquarters
Ottawa, Ontario
,
Canada
Key people
Michael Waters (CEO)
Roger Greenberg (Executive Chairman)
RevenueDecrease US$157.088 million (2024) [1]
Increase US$100.571 million (2024) [2]
OwnerGreenberg family
Number of employees
1,500 (2025)
Websitewww.minto.com

Minto Group is a Canadian real estate company based in Ottawa, Ontario. It builds homes in Ottawa, Toronto, Calgary, Florida and South Carolina, and it manages multi-residential and commercial properties in Ontario, Alberta and British Columbia. As of 2025, Minto has built over 100,000 homes[3] and manages $2.9 billion in assets, including 13,000 multi-residential units and 2.7 million square feet of commercial space.[4][5] The firm is one of Ottawa's largest residential landlords.[6] Minto also has a publicly traded subsidiary, holding some of its multi-residential units, called Minto Apartment REIT (traded as TSX: MI.UN). Some of Minto's joint-venture partners have included LaSalle Investment Management, Greystar Real Estate Partners and the CPP Investment Board.

History

[edit]

Minto was founded as a home builder in 1955 by Gilbert, Irving, Lorry and Louis Greenberg.[7] It was originally called Mercury Homes but renamed itself as Minto Construction Company in 1957. Its first major development was Parkwood Hills in Nepean, in partnership with Westmore Investments.[8] As part of that development, Minto built Canada's first high-rise condominium – Horizon House on Meadowlands Drive.[3] The firm developed a number of other subdivisions in the Ottawa area during the 1960s and 1970s. In 1971, three quarters of the construction in Nepean was by Minto.[8]

In the early 1980s, the firm expanded to Florida.[9]

In 1991, Roger Greenberg, son of Gilbert, became CEO after the death of his uncle Irving.[9]

In 2001, Minto completed the first Minto Dream Home for the Children's Hospital of Eastern Ontario (CHEO) Dream of a Lifetime Lottery.

In 2008, Minto built Canada’s first Net Zero Inspiration Home.[10]

In 2013, Michael Waters, who is not part of the Greenberg family, became CEO.[9]

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.[11]

In 2017, Minto Communities USA and Margaritaville Holdings announced a partnership to develop active adult communities – Latitude Margaritaville – with the first location in Daytona Beach, Florida.[12]

In May 2018, Minto announced that it would hold an IPO for its Canadian multi-residential properties.[13] The properties became part of a new entity named 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.[14] The IPO took place on June 29, 2018, with an initial price of $14.50 per share, and with the share symbol MI.UN.[15]

Minto was named as one of "Canada's Best Managed Companies" in 2024 and 2025.[16]

Business

[edit]

Minto Group is divided into three divisions:

  • Minto is a home builder in Ottawa, Toronto and Calgary. It has built over 100,000 homes over its history. It builds both low-rise and high-rise housing, and in recent years has been building more luxury rental projects.[17] In 2015, Minto was the largest home builder in Ottawa, with 913 homes built, and 24 percent of the market.[18]
  • 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.[15]
  • Minto Communities USA is a Florida home builder. It has built 25,000 homes over its history.[19] It was ranked as the 56th largest home builder in the United States in 2016.[19] Minto partnered with Margaritaville Holdings to create Latitude Margaritaville, a series of retirement communities inspired by the laid-back, tropical lifestyle popularized by singer Jimmy Buffett.[20]

The CEO of Minto, Michael Waters, participated in a four-part leadership lab with The Globe and Mail.[21] The Greenberg family, which founded and still controls the Minto Group,[9] was listed as the 74th richest family in Canada in 2017, according to Canadian Business.[7]

Recent Awards

[edit]

2025

[edit]
  • One of Canada’s Best Managed Companies. [22]
  • Reputation 800 Awards winner. [23]
  • National Association of Home Builders (NAHB) Awards 2024 - two Silver Awards for Community of year: Up to 6 stories for both The Heights of Harmony and Park & Main. [24]
  • 30th annual Eliant's Homebuyers’ Choice Awards, with a total of 13 wins. [25]
  • BILD Calgary Region Award - nominated in 6 categories, won for re-designed Design Centre in Airdrie for Best Design Centre. [26]
  • 3 wins at the CHBA Awards. [27]
  • Toronto Marketing team BILD Award Win. [28]
  • Minto Calgary has been awarded the AvidCX Award for the fourth consecutive year. [29]

2024

[edit]
  • 13th among the Top 100 Private Home Builders in the USA[30]
  • Canada Green Building Council's (CAGBC) LEED Gold Certification achieved at Era in Calgary[31]
  • Best Design Centre at the 2023 BILD Calgary Region Awards[32]
  • One of Canada’s Best Managed Companies[33]
  • Best Production Net Zero Home at the 2024 Canadian Home Builders' Association (CHBA) Awards[34]
  • 37th on Builder magazine's 2024 annual Builder 100 list in the USA[35]
  • 2024 Oakville Hydro Sustainability Leader of the Year at the 29th annual Oakville Awards for Business Excellence Awards[36]
  • Avid Gold Award winner as production builder in Alberta with the highest customer ratings on the New Home Move-In Experience Survey[37]
  • 2024 Ontario Home Builders' Association (OHBA) Awards for Best Back-to-Back Townhome Unit and Green Building[38]
  • Westlake and Latitude Margaritaville Watersound recognized among the Top 50 Master-planned Communities by RCLCO Real Estate Consulting[39]
  • 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)[40]
  • Winner of the 2024 Federation of Rental-housing Providers of Ontario (FRPO) MAC Award for Outstanding Company Culture[41]
  • Reputation 800 Awards Winner[42]

Community

[edit]

CHEO

[edit]

Minto has demonstrated a deep and lasting commitment to community support through its long-standing partnership with the Children’s Hospital of Eastern Ontario (CHEO). Since 2001, Minto has proudly designed and built the Minto Dream Home, the grand prize in CHEO’s annual Dream of a Lifetime Lottery.[43]

This initiative has raised close to $60 million to date, directly supporting CHEO’s vital programs and services for children and families across Eastern Ontario. Each year, Minto collaborates with designers, trade partners, and suppliers to create a home that not only inspires ticket sales but also showcases innovation in sustainable living—such as the introduction of Net Zero Energy homes.[44]

Developments

[edit]

Communities

[edit]

Toronto and GTA

[edit]

Ottawa

[edit]

Calgary

[edit]

USA

[edit]
  • The Isles of Collier Preserve [58]
  • Westlake [59]
  • Latitude Margaritaville – Daytona Beach [60]
  • Latitude Margaritaville – Hilton Head [60]
  • Latitude Margaritaville – Watersound [60]

Apartments

[edit]

Ottawa

[edit]

Toronto

[edit]
Minto Yorkville
  • High Park Village [72]
  • York Mills and Leslie [73]
  • 39 Niagara [74]
  • Minto Yorkville [75]
  • Marlborough Court [76]
  • The ROE [77]
  • Upper Canada Drive [78]
  • Aquitaine Avenue [79]
  • Jameson Avenue [80]
  • Richgrove Village [81]
  • Lord Seaton Road [82]
  • The Links Road [83]
  • 620 Martin Grove Road and 610 Martin Grove Road [84]
  • Elora [85]

Calgary

[edit]

Vancouver

[edit]

Montreal

[edit]

References

[edit]
  1. ^ "Minto Annual Report - Section II - Financial Highlights and Performance" (PDF). Retrieved May 11, 2025.
  2. ^ "Minto Annual Report - Section II - Financial Highlights and Performance" (PDF). Retrieved May 11, 2025.
  3. ^ a b Willing, Jon (August 20, 2017). "The Capital Builders: How the Greenbergs mix business, philanthropy and sports". Ottawa Citizen. Retrieved January 5, 2018.
  4. ^ "About The Minto Group - Our Organization and Capabilities | Minto". www.minto.com. Retrieved January 5, 2018.
  5. ^ GmbH, finanzen.net. "Minto Capital Celebrates Topping Off at 39 Niagara in Toronto | Markets Insider". markets.businessinsider.com. Retrieved October 3, 2018.
  6. ^ "Minto paid $94.55M for Craig Henry community: records | Ottawa Business Journal". www.obj.ca. Retrieved March 9, 2018.
  7. ^ a b "Canada's Richest People: The Greenberg Family". Canadian Business - Your Source For Business News. December 24, 2015. Retrieved January 5, 2018.
  8. ^ 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.
  9. ^ a b c d Bagnall, James (October 9, 2013). "Minto No Longer All in the Family". The Ottawa Citizen.
  10. ^ "Green Building Audio Tours - Inspiration - The Minto Eco Home". www.greenbuildingaudiotours.com. Retrieved February 27, 2025.
  11. ^ "Minto US Open Pickleball Championships Powered by Margaritaville The Biggest Pickleball Party in the World! April 26 - May 3, 2025". usopenpickleball.com. Spirit Promotions LLC. Archived from the original on April 16, 2025. Retrieved April 16, 2025.
  12. ^ "Making hay in Margaritaville: Billionaire Canadian developer hits Jimmy Buffett-branded lifestyle community home run".
  13. ^ "Ottawa real estate giant Minto files for initial public offering estimated at $200 million on TSX". Ottawa Citizen. May 24, 2018. Retrieved May 28, 2018.
  14. ^ "Canada's Minto Is Said Seek $156 Million in Real Estate IPO". Bloomberg Quint. May 10, 2018. Retrieved May 18, 2018.
  15. ^ a b "Minto REIT shares rise 9% in first day of public trading | Ottawa Business Journal". www.obj.ca. Retrieved July 12, 2018.
  16. ^ "What Canada needs now more than ever is rental units – and Minto Group knows how to build them". The Globe and Mail. May 14, 2024. Retrieved February 27, 2025.
  17. ^ Lorinc, John (December 8, 2016). "Builders flock to high-end rental development". The Globe and Mail. Retrieved January 5, 2018.
  18. ^ a b c d e Langston, Patrick (June 5, 2015). "Minto Communities marks 60th anniversary". Ottawa Citizen. Retrieved January 5, 2018.
  19. ^ a b Goodman, Jennifer (May 25, 2016). "Minto announces three new large-scale communities". BuilderOnline.com. Retrieved January 5, 2018.
  20. ^ O'Connor, Joe (May 2, 2022). "Making hay in Margaritaville: Billionaire Canadian developer hits Jimmy Buffett-branded lifestyle community home run". The Financial Post.
  21. ^ "Home builders are only part of the solution to the housing crisis". The Globe and Mail. December 4, 2024. Retrieved September 9, 2025.
  22. ^ "Still the best: Welcome Best Managed Companies 2025". The Globe and Mail. May 7, 2025. Retrieved September 9, 2025.
  23. ^ "2025 U.S. Real Estate 800 Award Winners". Reputation. Retrieved September 9, 2025.
  24. ^ "The Nationals 2024 Winners Book Feb 2025". FlippingBook. Retrieved September 9, 2025.
  25. ^ "Eliant's Homebuyers' Choice Awards 2024 - Winner's List". Eliant.
  26. ^ "2024 BILDCR Awards Winners - BILD Calgary". April 7, 2025. Retrieved September 9, 2025.
  27. ^ "Winners Announced for the 2025 CHBA National Awards for Housing Excellence". Canadian Home Builders' Association. May 16, 2025. Retrieved September 9, 2025.
  28. ^ BILD. "BILD Awards 2025 - Winners and Finalists". bildawards.ca. Retrieved September 9, 2025.
  29. ^ "2025 AvidCX Award Winners: Top Homebuilders in CX". ECI Software Solutions. Retrieved September 9, 2025.
  30. ^ Editor, Town-Crier (March 8, 2024). "Minto Ranked 13th Among Top 100 Private Home Builders In U.S." Town-Crier Newspaper. Retrieved April 9, 2025. {{cite web}}: |last= has generic name (help)
  31. ^ "USGBC". www.usgbc.org. Retrieved April 9, 2025.
  32. ^ Achtymichuk, Matthew (April 9, 2024). "2023 BILDCR Awards Winners - BILD Calgary". Retrieved April 9, 2025.
  33. ^ "Best Managed new winners | Canada's Best Managed Companies". Deloitte Canada. Retrieved April 9, 2025.
  34. ^ "Winners Announced for the 2024 CHBA National Awards for Housing Excellence". Canadian Home Builders' Association. May 10, 2024. Retrieved April 9, 2025.
  35. ^ "2024 - Builder 100". Builder. Retrieved April 9, 2025.
  36. ^ root (April 16, 2024). "Finalists announced for the 29th Annual Oakville Awards for Business Excellence". The Oakville Chamber of Commerce. Retrieved April 9, 2025.
  37. ^ kyle.faino (May 14, 2024). "21st Annual Avid Awards Recognize Leading Canadian Builders for Outstanding Homebuyer Satisfaction". Avid Ratings. Retrieved April 9, 2025.
  38. ^ "Winners 2024". OHBA AoD. Retrieved April 9, 2025.
  39. ^ Hoeft, Rachel (January 7, 2025). "The Top-Selling Master-Planned Communities of 2024 - RCLCO Real Estate Consulting". Retrieved April 9, 2025.
  40. ^ "Housing Design Awards Sets Multiple Records – Winners Announced". Greater Ottawa Home Builders’ Association. November 7, 2024. Retrieved April 9, 2025.
  41. ^ "2024 Award Winners | FRPO MAC Awards". Retrieved April 9, 2025.
  42. ^ "2025 U.S. Real Estate 800 Award Winners". Reputation. Retrieved April 9, 2025.
  43. ^ "CHEO's Dream of a Lifetime Lottery". CHEO Foundation. Retrieved September 9, 2025.
  44. ^ Staff, News (September 9, 2019). "'Net Zero' home up for grabs in 28th annual CHEO Dream of a Lifetime Lottery". CityNews Ottawa. Retrieved September 9, 2025. {{cite web}}: |first= has generic name (help)
  45. ^ a b c d e f g h "Minto Communities GTA | UrbanToronto". urbantoronto.ca. Retrieved September 9, 2025.
  46. ^ "Riversbend at Harmony by Minto Group in Nepean ON | Livabl". www.livabl.com. Retrieved September 9, 2025.
  47. ^ "Anthem, Barrhaven | development summary, prices". allthingshome.ca. Retrieved September 9, 2025.
  48. ^ Porter, Kate (October 10, 2018). "Minto nears approval for 897-home development in Manotick". CBC News.
  49. ^ "Quinn's Pointe, Barrhaven". All Things Home.
  50. ^ "Parkside at Arcadia, Kanata | development summary, prices". allthingshome.ca. Retrieved September 9, 2025.
  51. ^ "Abbott's Run | development summary, prices". allthingshome.ca. Retrieved September 9, 2025.
  52. ^ "Brookline, Kanata". allthingshome.ca. Retrieved September 9, 2025.
  53. ^ science, Tyler Choi Business editor Tyler Choi is a journalist based in the Toronto area He has covered a wide range of sectors ranging from; technology; Environment, The; business; Policy, Government; crime; interviewed, to finance Among the many people he has; winner, his favourite was an Ig Nobel Prize. "At Weavers Way, Minto steps out into Almonte". renxhomes.ca. Retrieved September 9, 2025. {{cite web}}: |first1= has generic name (help)
  54. ^ "East Hills Crossing - Townhomes and Condos by Minto Group in Calgary AB | Livabl". www.livabl.com. Retrieved September 9, 2025.
  55. ^ "Belvedere Rise Back-To-Back Townhomes by Minto Group in Calgary AB | Livabl". www.livabl.com. Retrieved September 9, 2025.
  56. ^ Leonowicz, Ursula (September 24, 2024). "Wildflower: An exciting new community is taking shape". Calgary Herald.
  57. ^ "Engage Parkline - A thoughtfully designed, multi-residential community". Engage Parkline. Retrieved September 9, 2025.
  58. ^ Staff (November 3, 2022). "Minto Communities introduces final phase of The Isles of Collier Preserve - Naples Florida Weekly". Naples Florida Weekly -. Retrieved September 9, 2025.
  59. ^ "Westlake Reaches New Home-Building Milestone". The Town Crier. November 27, 2024.
  60. ^ a b c "What Canada needs now more than ever is rental units – and Minto Group knows how to build them". The Globe and Mail. May 14, 2024. Retrieved September 9, 2025.
  61. ^ "Ottawa - High-Rise Buildings (all)". Emporis.com. Archived from the original on July 28, 2012. Retrieved August 26, 2009.
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  63. ^ "One80five - Ottawa Apartment Rentals | uhomes.com". en.uhomes.com. Retrieved September 9, 2025.
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  74. ^ "39 Niagara - 39 Niagara Street, Toronto, ON". Rentals.ca. Retrieved September 9, 2025.
  75. ^ "Minto Yorkville". Zillow.
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  78. ^ "Upper Canada Drive - 199 Upper Canada Drive, Toronto, ON". Rentals.ca. Retrieved September 9, 2025.
  79. ^ "Aquitaine Avenue | Condo/Apartment for rent: Mississauga". vistoo.com. Retrieved September 9, 2025.
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  90. ^ "The Hyland - 3350 Prince Albert Street, Vancouver, BC". Rentals.ca. Retrieved September 9, 2025.
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