What Forster Harvard Development Corp does

Forster Harvard Development Corp. is a privately held, full-service real estate development company headquartered in Regina, Saskatchewan, that specialises in the acquisition, development, and long-term ownership of commercial, residential, and mixed-use projects across Western Canada. The company's portfolio spans approximately 1,100 acres across eight active projects in Alberta, Saskatchewan, and Manitoba — including regional retail centres (Aurora, Horizons, Acre 21, Vista Ridge), Manitoba's first dedicated outlet mall (Outlet Collection Winnipeg, a joint venture with Ivanhoé Cambridge), the 77-acre Seasons mixed-use development in Winnipeg, and the 490-acre Westerra master-planned residential community in Regina — representing roughly 3 million square feet of commercial space and 3,000+ home lots at full build-out.

The company operates a vertically integrated service model spanning site selection, leasing, development management, construction management, project management, and ongoing property management, with the stated objective of owning assets in perpetuity rather than flipping developments. Anchor tenant relationships include Costco, Winners/HomeSense, PetSmart, Staples, Landmark Cinemas, Saks OFF 5TH, Nike Factory Store, DSW, Old Navy Outlet, Save-On-Foods, Dollarama, Shoppers Drug Mart, and Hilton Garden Inn, among others. Forster Harvard is an equal partnership with Harvard Developments Inc. (in operation since 1903) on multiple projects and is part of the broader Forster Group of Companies, which also includes Forster Foods Inc. The company is led by President Blair Forster (30+ years in real estate development), CFO Lamont Stradeski (CPA, former University of Regina AVP Finance), and a team of VPs covering retail leasing, development & construction, marketing & operations, and finance.

Revenue is generated through four primary streams: development management fees (due diligence, feasibility, pro-forma analysis), property management fees (ongoing operations and tenant services), leasing commissions (negotiating tenant agreements), and recurring rental income from owned assets. Pricing is not publicly disclosed and is negotiated on a per-project basis. The company has received industry recognition including the ICSC 2019 North America Design and Development Gold award and Sustainability commendation for Outlet Collection Winnipeg, along with LEED pre-certification. No revenue, funding rounds, M&A activity, or institutional ownership are disclosed in the available data.

Name

Forster Harvard Development Corp

Legal name

Forster Harvard Development Corp.

Website

https://forsterharvard.ca

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Forster Harvard Development Corp. is a privately held Regina-based real estate developer that acquires, develops, and owns commercial, residential, and mixed-use properties across Western Canada, managing eight active projects totalling 1,100 acres and serving national retailers, regional tenants, and residential buyers.

Ownership category

akta.pro rank

Headquarters

HQ city

Regina

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Development Management Fees: Project due diligence, site plan design consultation, development feasibility and financial pro-forma analysis services charged to project development.
2. Property Management: Ongoing operation and maintenance of properties and administration of services and space requirements for tenants.
3. Leasing Revenue: Consultation and administration of contractual agreements defining project amenities and tenancy terms and conditions for retail, commercial and residential tenants.
4. Asset Ownership: Company owns and manages properties in perpetuity, generating long-term rental income from commercial and residential portfolios.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Forster Harvard Development Corp. is a full-service real estate development company that acquires, develops, owns, and manages commercial, residential, and mixed-use properties in Western Canada. The company provides integrated services spanning site selection, leasing, project management, development management, construction management, and property management, with a portfolio of owned and managed properties totalling 1,100 acres and representing 3 million square feet of retail space plus over 3,000 home lots at full build-out.

Product overview

Forster Harvard Development Corp. is a full-service real estate development company offering integrated services including site selection, leasing, project management, development management, construction management, and property management. The company specializes in commercial, residential, and mixed-use developments across Western Canada. Their portfolio includes eight active projects in Alberta, Saskatchewan, and Manitoba: Vista Ridge (Edmonton retail), GROVE ON 17 (Edmonton mixed-use), SEASONS (Winnipeg mixed-use), Outlet Collection Winnipeg (Winnipeg outlet mall), Acre 21 (Regina community retail), Aurora (Regina regional retail), Horizons (Regina regional retail), and Westerra (Regina residential community). The portfolio comprises approximately 1,100 acres representing 3 million square feet of commercial space and over 3,000 home lots at full build-out.

Differentiator

Problem solved

Functional benefit

Products and services

• Site Selection Evaluation of project specifications, assessment of preferred locations, and successful negotiation and acquisition of property for commercial, residential, and mixed-use development projects.
• Leasing Consultation and administration of contractual agreement defining project amenities to be provided and tenancy terms and conditions for retail, commercial, and residential tenants.
• Project Management Organization and administration of resources to meet unique goals and objectives of project scope within a specified timeframe and achievable budget.
• Development Management Project due diligence, site plan design consultation, development feasibility and financial pro-forma analysis services.
• Construction Management Overall planning, coordination, and control of a real estate development project from commencement to completion.
• Property Management Ongoing operation and maintenance of owned properties and administration of services and space requirements for the tenants.
• Vista Ridge 8-acre retail development in Northeast Edmonton, Alberta with 24,000 SF of retail space, located on a ridge descending toward the North Saskatchewan River with access from Yellowhead Trail.
• GROVE ON 17 20-acre mixed-use development in southeast Edmonton anchored by Landmark Cinemas and shadow-anchored by Walmart Supercentre, totaling one million square feet of mixed-use development with 131,000 SF of retail space.
• SEASONS 77-acre mixed-use shopping centre in southwest Winnipeg with 361,000 SF anchored by Outlet Collection Winnipeg and Co-op Food Store, featuring Hilton Garden Inn, luxury auto dealerships, restaurants, and residential developments.
• Outlet Collection Winnipeg Joint venture with Ivanhoé Cambridge and Harvard Developments — Manitoba's first pure outlet shopping centre. 40 acres with 570,000 SF featuring over 100 popular outlet brands including Coach, Kate Spade, Michael Kors, Nike Factory Store, and more; pre-certified LEED and winner of ICSC 2019 Gold & Commendation Sustainability award.
• Acre 21 21-acre community retail site in southeast Regina anchored by Save-On-Foods, Dollarama, Sherwood Co-Op Gas Bar and Shoppers Drug Mart, comprising 190,000 SF with dining options and a water feature.
• Aurora 68-acre regional retail centre in east Regina anchored by Costco, Landmark Cinemas, PetSmart, Staples, and Winners/HomeSense, comprising 715,000 SF servicing Regina and surrounding communities.
• Horizons 69-acre retail development in west Regina anchored by Costco, comprising 675,000 SF serving West Regina in the city's newest complete community.
• Westerra 490-acre Complete Community in West Regina offering single-family and multi-family homes with 46 acres of green space, 8 kilometers of pathways, a retail shopping district, and a future business park — the only new community approved for the next phase of Regina's Growth Plan targeting a population of 300,000.

Quantifiable outcome

• 3 million square feet of commercial space and 3,000+ home lots at full build-out
• +2 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered major, core and supporting.

• Red River Co-opmajorChannel Partner/ Reseller/ Distributor · 5 February 2020Red River Co-op building 35,000 square foot food store at Seasons development. Grand opening planned for summer 2021. Store will feature over 600 locally made products, fresh produce and meats, bakery, health and wellness section, and pharmacy.
• Landmark CinemascoreChannel Partner/ Reseller/ Distributor · 29 April 2019Landmark Cinemas operating premium recliner seating movie theatres at Aurora and Grove On 17. Construction began August 2019 for Grove On 17 with completion in summer 2020. Eight-screen theatres featuring luxury recliner seating and Barco Laser Projection.
• Ivanhoé CambridgecoreStrategic or Co-development Partner · 3 May 2017Equal partner and project manager for Outlet Collection Winnipeg. Ivanhoé Cambridge joined as development/mall partner with Forster Harvard Development Corp. and Harvard Developments. Owner and operator of Outlet Collection Winnipeg with Forster Harvard. Pre-certified LEED development.
• Harvard Developments Inc.coreStrategic or Co-development PartnerEqual partner in Forster Harvard Development Corp. and co-developer of major projects including Seasons and Outlet Collection Winnipeg. One of Western Canada's most respected full-service real estate companies since 1903.
• SK Developments Inc.majorStrategic or Co-development PartnerOwned by Winnipeg developer/hotel operator Darshan Kaila and family. Developed $35-million, four-star 127-room Hilton Garden Inn Winnipeg South hotel adjacent to Seasons/Outlet Collection Winnipeg.
• 505Design, Inc.supportingTechnology or IntegrationDesign architects and graphic designers for Outlet Collection Winnipeg. Coined the term 'industrial chic' for the development's aesthetic. Based out of Colorado.
• Stantec Architecture LTD.supportingTechnology or IntegrationProduction/Executive Architects for Outlet Collection Winnipeg - Winnipeg office.
• PCLsupportingImplementation/ SI/ Consulting PartnerGeneral contractors for Outlet Collection Winnipeg development.
• HTFC Planning & DesignsupportingTechnology or IntegrationLandscape architects for Outlet Collection Winnipeg.
• JK Design GroupsupportingTechnology or IntegrationLighting designers for Outlet Collection Winnipeg.

Scale indicators5 records

Recent moves3 records

Expansion highlights4 records

Direct peers

• Morguard Corporation: Diversified Canadian REIT that owns and develops retail, office, and multi-suite residential across Canada, including Western Canada. Comparable in vertical integration of development, leasing, and property management, and in exposure to mid-market Canadian cities.
• Cadillac Fairview: Major Canadian owner, developer and operator of retail and mixed-use properties including outlet centres (e.g., Toronto Premium Outlets, CrossIron Mills near Calgary). Directly comparable in outlet mall and large-format retail real estate category, particularly to Outlet Collection Winnipeg.
• Harvard Developments Inc. Equal JV partner in Forster Harvard Development Corp. itself, also a Western Canadian full-service real estate company (in operation since 1903). Most directly comparable firm because it co-develops the same projects (Outlet Collection Winnipeg, Seasons) and shares the same institutional JV with Ivanhoé Cambridge.
• Anthem Properties: Western Canadian (Vancouver-based) full-service real estate developer of master-planned communities, retail, and mixed-use projects. Closely comparable in regional scope, complete-community model, and full-service development-to-management integration.
• RioCan REIT: Canada's largest retail REIT with a portfolio of shopping centres anchored by many of the same national retailers (Costco, Walmart, Staples, Winners, Shoppers Drug Mart) that anchor Forster Harvard's properties. Comparable in asset class, tenant base, and anchor-tenant strategy.
• Ivanhoé Cambridge: One of Canada's largest institutional real estate investors and the JV partner on Outlet Collection Winnipeg. Directly comparable because it owns, develops, and operates retail and mixed-use assets across Canada and selected international markets at institutional scale, validating the asset class Forster Harvard operates in.
• Primaris REIT: Canadian REIT focused on enclosed shopping centres and grocery-anchored retail, including Save-On-Foods and Shoppers Drug Mart — both anchors in Forster Harvard's Acre 21. Comparable in asset class and tenant relationships.
• SmartCentres REIT: Canadian retail REIT focused predominantly on Walmart-anchored shopping centres, directly comparable to GROVE ON 17 (Walmart-shadow-anchored) and other Forster Harvard Walmart/COST-anchored retail properties. Similar tenant mix and Western Canadian footprint.

Regional players

• Wesgroup Properties: Western Canadian (BC-based) real estate developer of mixed-use and master-planned communities, including retail and residential. Comparable in full-service development model but concentrated primarily in British Columbia rather than the Prairies.

Broad incumbents

• Brookfield Property Group: One of the world's largest real estate operators with retail, office, and mixed-use holdings including Canadian shopping centres. Comparable in asset class and tenant universe but operates at vastly greater scale and global breadth rather than Western Canadian focus.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/forster-harvard-development-corp

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forster Harvard Development Corp