General Development Corporation
- General Development Corporation
General Development Corporation, also known as GDC, was one of the largest land development companies in Florida. Founded in 1954 by brothers Elliot, Robert, and Frank Mackle Jr., and based in Miami, Florida, they established several communities in the 1950s & 1960s, and promoted cheap Florida land worldwide. Long after the three founders left to start another company, the new management team was exposed for fraudulent land deals in the late 1980s: this led 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. Subsequent to the indictments of the company leadership, the 11th Circuit Court of Appeals exonerated these men, reversing their convictions and directing that all charges against them be dismissed. Please see, US v. Brown, 79 F.3rd 1550 (1996), for a complete discussion of the case and a general exoneration of General Development Corporation.
Communities developed by GDC
*North Port, Florida
*Port Charlotte, Florida
*Port St. John, Florida
*Palm Bay, Florida
*Port St. Lucie, Florida
*Sebastian, Florida
*Deltona, Florida
*Key Biscayne, Florida
Errata
The company had a court-appointed CEO, Thomas J. Hutchison III, from 1990-1991.
References
* [http://scg.co.sarasota.fl.us/Historical_Resources/Dreamers/dreamer_gdc.asp "General Development Corporation 1954-1991"] : page from the Sarasota History Center
* [http://www.palmbayflorida.org/about/history.html History of Palm Bay]
* [https://home.ingdirect.com/about/about.asp?s=BoardMembers ING Direct Board of Directors] : Thomas J. Hutchison III reference
* [http://query.nytimes.com/gst/fullpage.html?res=9C0CE3D8153CF932A35751C0A966958260 "Charges Seen for Developer"] : "New York Times"; February 1, 1990
* [http://query.nytimes.com/gst/fullpage.html?res=9C0CEED7143FF930A35756C0A966958260 "COMPANY NEWS;Stake Is Reduced By United Capital"] : "New York Times"; May 3, 1990
See also
*The Compound
Wikimedia Foundation.
2010.
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