General Development Corporation
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General Development Corporation, also known as GDC, was one of the largest land development companies in Florida. Founded in 1954 by the so-called Mackle brothers, and based in Miami, Florida, they established several communities in the 1950s & 1960s, and promoted cheap Florida land worldwide. The company was exposed for fraudulent land deals in the late 1980s: this lead to criminal indictments of the company leadership, and bankruptcy in 1991. Functional assets held by the developer in various cities were turned over to their respective governments thereafter.
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[edit] Communities developed by GDC
- North Port, Florida
- Port Charlotte, Florida
- Port St. John, Florida
- Palm Bay, Florida
- Port St. Lucie, Florida
[edit] Errata
The company had a court-appointed CEO, Thomas J. Hutchison III, from 1990-1991.
[edit] References
- "General Development Corporation 1954-1991": page from the Sarasota History Center
- History of Palm Bay
- ING Direct Board of Directors: Thomas J. Hutchison III reference
- "Charges Seen for Developer": New York Times; February 1, 1990
- "COMPANY NEWS;Stake Is Reduced By United Capital": New York Times; May 3, 1990
[edit] See also
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