General Development Corporation
Encyclopedia
General Development Corporation, also known as GDC, was the largest land development company in Florida
. Founded in 1954 by brothers Elliot, Robert, and Frank Mackle Jr., and based in Miami, Florida
, GDC established several "NEW" communities in the 1950s & 1960s, and promoted inexpensive Florida homesites worldwide.
As each community started the developer built the roads, sewer and water plants, golf courses, marinas, other basic amenities and even operated landfills. These new communities had the feel of "company towns." When North Port was incorporated GDC employees even made up the first City Council.
In the 1960s GDC's board of directors hired Charles H. Kellstadt, retired Chairman of Sears as President and Chairman. This was just after the GDC board voted to split with the founding Mackle Brothers. The Mackle's went on to develop Marco Island and other prominent communities.
Kelstadt, it was said, implemented a money back guarantee on homes and lots, similar to what Sears offered. This was a powerful sales tool, and combined with the ability to swap remote lots for lots in the developed areas, this allowed GDC to achieve tremendous sales success, selling several thousand lots each month and several hundred homes.
In 1974, GDC was a publicly traded company. It was purchased and taken private by City Investing, George T Scharffenberge, Chairman.
Then, in the mid 1980s City Investing took the company public again.
In the late 1980s GDC's management team was accused of fraudulent home sales: this led to criminal indictments of the company leadership, and bankruptcy
of GDC in 1991. Functional assets held by GDC in various cities were turned over to their respective governments thereafter.
Subsequent to the indictments and convictions of management, the 11th Circuit Court of Appeals exonerated the men, reversing their convictions and directing that all charges against them be dismissed (see US v. Brown, 79 F.3rd 1550 (1996), for a complete discussion of the case and a general exoneration of General Development Corporation).
Port Charlotte/North Port
Over several decades many general managers came and went, but locals would say, "Woody Hogan sold it, and John Stanton built it."
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
. Founded in 1954 by brothers Elliot, Robert, and Frank Mackle Jr., and based in Miami, Florida
Miami, Florida
Miami is a city located on the Atlantic coast in southeastern Florida and the county seat of Miami-Dade County, the most populous county in Florida and the eighth-most populous county in the United States with a population of 2,500,625...
, GDC established several "NEW" communities in the 1950s & 1960s, and promoted inexpensive Florida homesites worldwide.
Communities developed by Mackle Bros. and GDC
- Port LaBelle, Florida
- Port Charlotte, FloridaPort Charlotte, FloridaPort Charlotte is a census-designated place in Charlotte County, Florida, United States. The population was 46,451 at the 2000 census. It is part of the Punta Gorda Metropolitan Statistical Area.-History:...
- North Port, FloridaNorth Port, FloridaNorth Port is a city in southern Sarasota County, Florida, United States. The population was 22,797 at the 2000 census. As of 2007, the population recorded by the U.S. Census Bureau is 54,308. It is part of the Bradenton–Sarasota–Venice Metropolitan Statistical Area...
- Port St. John, FloridaPort St. John, FloridaPort St. John is a census-designated place located between Titusville and Cocoa in Brevard County, Florida, United States. The population was 12,112 at the 2000 census. It is part of the Palm Bay–Melbourne–Titusville Metropolitan Statistical Area....
- Palm Bay, FloridaPalm Bay, FloridaPalm Bay is a city in Brevard County, Florida, United States. The U.S. Census Bureau estimated the city's population as 100,786 on 1 July 2008; it is the most populous city in the county...
(also known as Port Malabar) - Port St. Lucie, FloridaPort St. Lucie, FloridaPort St. Lucie is a city in St. Lucie County, Florida, United States. The population of Port St. Lucie was 88,769 at the 2000 census but grew rapidly during the 2000s. In 2009 the State of Florida estimated the City's population at 155,251. Port St. Lucie forms part of a metropolitan area called...
- Sebastian Highlands, Florida
- Deltona, FloridaDeltona, FloridaDeltona is a city in the central region of the U.S. state of Florida and is the largest city in Volusia County. It is located east of DeBary and north of Lake Monroe. It is the twenty-ninth largest city in Florida, with a 2010 Census population of 85,182...
- Key Biscayne, FloridaKey Biscayne, FloridaKey Biscayne is a village in Miami-Dade County, Florida, United States on the island of Key Biscayne. The population was 10,507 at the 2000 census. As of 2004, the population estimated by the U.S. Census Bureau is 10,324....
As each community started the developer built the roads, sewer and water plants, golf courses, marinas, other basic amenities and even operated landfills. These new communities had the feel of "company towns." When North Port was incorporated GDC employees even made up the first City Council.
In the 1960s GDC's board of directors hired Charles H. Kellstadt, retired Chairman of Sears as President and Chairman. This was just after the GDC board voted to split with the founding Mackle Brothers. The Mackle's went on to develop Marco Island and other prominent communities.
Kelstadt, it was said, implemented a money back guarantee on homes and lots, similar to what Sears offered. This was a powerful sales tool, and combined with the ability to swap remote lots for lots in the developed areas, this allowed GDC to achieve tremendous sales success, selling several thousand lots each month and several hundred homes.
In 1974, GDC was a publicly traded company. It was purchased and taken private by City Investing, George T Scharffenberge, Chairman.
Then, in the mid 1980s City Investing took the company public again.
In the late 1980s GDC's management team was accused of fraudulent home sales: this led to criminal indictments of the company leadership, and bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
of GDC in 1991. Functional assets held by GDC in various cities were turned over to their respective governments thereafter.
Subsequent to the indictments and convictions of management, the 11th Circuit Court of Appeals exonerated the men, reversing their convictions and directing that all charges against them be dismissed (see US v. Brown, 79 F.3rd 1550 (1996), for a complete discussion of the case and a general exoneration of General Development Corporation).
Port Charlotte/North Port
Over several decades many general managers came and went, but locals would say, "Woody Hogan sold it, and John Stanton built it."