Peel-Elder Limited

Last updated

Peel-Elder Limited is a mining company that went into the real estate development industry in the late-1960s, with the Peel Village development in Brampton, Ontario, Canada.

Contents

1959 takeover

On December 9, 1959, shareholders approved Peel Village Developments Ltd. becoming a wholly owned subsidiary of Elder Mines & Developments Ltd. As such the mining company took over the $100-million dollar industrial and residential development of Peel Village. PVD chairman S. E. Coon, president and managing director Charles F. Watson, and secretary-treasurer J. K. Kinsella all became directors at Elder, continuing in their existing roles at the subsidiary. Industrial sites were scheduled first, followed by residential and commercial additions. [1] Through the purchase, W. J. Gilleland of Gilleland & Strutt of Ottawa was to be added as a consultant on Peel Village and in Hamilton; he was partially responsible for construction of the Ottawa airport.

Coon, Watson, and Kinsella jointly controlled a variety of companies, which owned office buildings in the GTA, retaining their own construction staff and crews, with a total of 200 employees. One of their subsidiaries purchased Syd-Co Holdings Ltd., which owned the Terminal Tower properties in Hamilton. Elder Limited had no stated interest in Syd-Co. [1]

Plans for Peel Village, as of takeover, included a 15-story apartment, 20-story apartment, a 200,000-square-foot (19,000 m2) shopping centre, and a 4,500 room hotel; [1] even today, such a hotel would be in the top 10 largest by rooms in the world.

Post expansion to real estate

As their 1961 annual report, Elder Mines & Developments had subsidiaries including Peel Village Developments, Wat-Co Holdings, Shoppers' World (Brampton), Shoppers World (Danforth), and Elder Builders' Supplies. The company's holdings included a gold mine, a major interest Eldrich Mines, which reported significant losses, and large interest in Jean Lake Lithium Mines, and Pump Metal Corporation of Canada. Its president was R. A. Roberts. [2]

That year, Peel Village Developments created Shoppers World Danforth Limited, which begat one of Toronto's earliest indoor malls, Shoppers World Danforth. The center was created before their Brampton mall project, which had been publicly planned since before 1959. Anchored by T. Eaton Co. Ltd., the targeted completion date was March 1962. [3] When it opened it advertised itself as "the world's largest all electrically heated and air conditioned mall" [4]

In April 1966, New Senator Rouyn and Peel-Elder were reported to have found large quantities of elemental sulphur about three miles (5 km) southwest of Truro, Nova Scotia. [5]

As of March 1971, the stock traded at $18.25. The company was said to be considering a "new town", Peel Village Highlands, [6] and by June, Simpsons .

The company had many of the same management team members as Canadian Goldale. [6]

By July 1977, Hambro Canada Ltd. owned 49.86% of Peel-Elder, or 1,636,978 of the 3,283,374 total shares. They announced that the company would make a cash offer for the outstanding shares of Peel-Elder that they didn't own. The proposed purchase price was CDN$13 a share, or USD$13.25 with the option of shareholders tendering the shares. [7]

Related Research Articles

<span class="mw-page-title-main">Brampton</span> City in Ontario, Canada

Brampton is a city in the Canadian province of Ontario. Brampton is a city in the Greater Toronto Area (GTA) and is a lower-tier municipality within Peel Region. The city has a population of 656,480 as of the 2021 Census, making it the ninth most populous municipality in Canada and the third most populous city in the Greater Golden Horseshoe urban area, behind Toronto and Mississauga.

<span class="mw-page-title-main">Bramalea City Centre</span> Shopping mall in Ontario, Canada

The Bramalea City Centre is a large shopping mall located in the city of Brampton, Ontario, Canada. With over a 1.5 million square feet of retail space and more than 300 outlets, it is one of Canada's largest shopping malls. Regarded as a super regional mall, the Bramalea City Centre has a market of more than 500,000 residents and attracts 16 million visitors annually. The Bramalea City Centre is located near the intersection of Queen Street and Dixie Road, just east of Highway 410.

<span class="mw-page-title-main">Brookfield Properties</span> Commercial real estate company in North America

Brookfield Properties is a North American subsidiary of commercial real estate company Brookfield Property Partners, which itself is a subsidiary of alternative asset management company Brookfield Asset Management. It is responsible for the property management of the company's real estate portfolio, which includes facilities in the office, multi-family residential, retail, hospitality, and logistics industries.

<span class="mw-page-title-main">Fairview Pointe-Claire</span> Shopping mall

Fairview Pointe-Claire is the largest shopping mall in the West Island and one of the biggest on the Island of Montreal. It is located in the city of Pointe-Claire, Quebec, Canada, at the intersection of Trans-Canada Highway and Saint-Jean Boulevard.

<span class="mw-page-title-main">Galeries d'Anjou</span> Shopping mall in Quebec, Canada

Galeries d'Anjou is a shopping mall located in the borough of Anjou in Montreal, Quebec, Canada. Major tenants include Hudson's Bay, Simons, The Brick, Saks Off 5th, Winners and Sports Experts/Atmosphere. In addition to the main indoor shopping centre, Galeries d'Anjou has several stores around its parking lot including Best Buy and Rona l'Entrepôt.

<span class="mw-page-title-main">Danforth Avenue</span> Arterial street in Toronto

Danforth Avenue and Danforth Road are two historically-related arterial streets in Toronto, Ontario, Canada. Danforth Avenue is an east-west street that begins in Old Toronto at the Prince Edward Viaduct as a physical continuation of Bloor Street and continues for about 6 kilometres (3.7 mi) east through old Toronto, about 350 metres (1,150 ft) of old East York, and a further 5 kilometres (3.1 mi) in Scarborough until it intersects with Kingston Road via a ramped interchange. Danforth Road splits off the Avenue west of Warden Avenue and runs diagonally northeast until south of Lawrence Avenue, where it continues as McCowan Road.

<span class="mw-page-title-main">Intu</span> United Kingdom-based real estate investment trust

Intu Properties plc was a British real estate investment trust (REIT), largely focused on shopping centre management and development. Originally named Liberty International plc, it changed its name in May 2010 to Capital Shopping Centres Group plc after demerging its Capital & Counties Properties business unit to form an independent business. The company adopted the Intu name on 18 February 2013, and this was followed by the rebranding of most of its shopping centres under the Intu title from May 2013.

Towers, operating as Bonimart in Quebec, was a Canadian discount department store chain owned by the Oshawa Group, a now-defunct grocery retailer and distributor.

<span class="mw-page-title-main">Steinberg's (supermarket)</span> Defunct Canadian supermarket chain

Steinberg's was a large family-owned Canadian grocery store chain that mainly operated in the province of Quebec and later Ontario. In addition to its flagship supermarket chain, the company operated several subsidiaries across the country. The company went bankrupt in 1992, three years after being sold to private interests, after 75 years in business.

<span class="mw-page-title-main">Shoppers World Brampton</span> Shopping mall in Ontario, Canada

Shoppers World Brampton is a shopping mall in Brampton, Ontario, Canada. It is host to over 190 stores, including Canadian Tire, Winners and Staples.

<span class="mw-page-title-main">Montreal Eaton Centre</span> Shopping mall in Montreal, Quebec, Canada

The Montreal Eaton Centre is a shopping mall located in Montreal, Quebec, Canada. It is located in the downtown core within the borough of Ville-Marie, and is accessible through the Underground City, and is connected to the Montreal Metro via McGill station.

<span class="mw-page-title-main">History of Brampton</span>

Following is an outline is for the history of Brampton, the fourth largest city in Ontario, Canada. European settlers arrived began to settle the area in the early 19th century, with Brampton being formally incorporated into a village in 1853.

The Champlain Mall is a shopping mall located in Brossard, Quebec, Canada at the intersection of Taschereau Boulevard and Lapinière Boulevard. Champlain Mall is named in honour of Samuel de Champlain but references the Champlain Bridge that was built 13 years prior to the mall's opening.

Bus companies in Ontario range in scale from small family-run businesses to subsidiaries of large international transportation groups. Many operate yellow school buses for student transportation on behalf of local school boards, while others concentrate on luxury coach charters and tours. Some municipalities use these private companies to run their public transit systems.

<span class="mw-page-title-main">Shoppers World Danforth</span>

Shoppers World Danforth is a hybrid shopping plaza and shopping mall in Toronto, Ontario, Canada. It has 40 stores serving parts of East York, Scarborough and The Beaches, near the Victoria Park subway station. Today a moderately sized suburban plaza, it has a notable place in history as one of the first suburban and one of the first enclosed malls in Canada. It is approximately 342,500 square feet (31,820 m2) in area.

The Ghermezian family is a Canadian business family of Iranian Jewish origin. The Ghermezians are best known for building North America's three largest shopping malls: West Edmonton Mall, Mall of America, and American Dream. The family has been based in Edmonton since 1964.

Bramalea Limited, founded in 1957 as Bramalea Consolidated Developments Ltd., was a Canadian real estate developer best known for its development of the town of Bramalea which would later become part of Brampton, Ontario. The company name Bramalea was formed by combining the names of local towns Brampton, Malton, and "lea", the Old English word for a meadow.

The Brampton Assembly Plant is a former automobile manufacturing facility originally owned and operated by American Motors Corporation (AMC) in Brampton, Ontario. The factory began production in 1962 to build over 1.2 million AMC cars and Jeep vehicles through the automaker's acquisition by Chrysler in 1987, until it was closed in 1992.

References

  1. 1 2 3 "The Financial Post - Google News Archive Search".
  2. ↑ "The Financial Post - Google News Archive Search".
  3. ↑ "The Montreal Gazette - Google News Archive Search".
  4. ↑ "Shopper's World advertisement." Toronto Star Saturday, May 12, 1962 page. 11
  5. ↑ "The Montreal Gazette - Google News Archive Search".
  6. 1 2 "The Calgary Herald - Google News Archive Search".
  7. ↑ "The Montreal Gazette - Google News Archive Search".
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.