Greenstone Developments
Greenstone Developments is a private Kelowna, BC-based real estate developer founded in 1984 that builds and operates purpose-built rental housing across British Columbia, targeting residential tenants in tight local markets with a long-term hold and ownership model.
- Company typePrivate
- Founded1984
- HeadquartersKelowna, Canada
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Greenstone Developments does
Greenstone Developments is a private real estate development company headquartered in Kelowna, British Columbia, founded in 1984. The company develops and operates purpose-built rental buildings across British Columbia, with a stated operational focus on Kelowna and Langley. Its disclosed portfolio consists of two projects: Willoughby Walk, a six-story, 181-unit rental building in Langley completed in 2015, and Bottom Wood Lake Rd., a four-story wood-frame rental building in development with an estimated 2025 completion. The company self-reports 40 years of combined team experience and 750 acres developed across the province.
Rather than operating as a build-and-sell developer, Greenstone positions itself as a long-term owner-operator of rental housing, with a stated goal to partner on and ultimately own 2,000 rental units within the next 10 years. Its value proposition centers on quality construction, professional property management, and inclusive community-oriented services, targeting residential rental seekers in tight BC housing markets, particularly the Okanagan region where vacancy rates have been historically low. Pricing is not publicly disclosed; the company markets primarily through its own website and blog content covering local development and interest rate trends.
Revenue mechanics are not disclosed in public materials. There is no reported app, no digital platform, no technology stack described, and no AI/ML capabilities referenced. The company operates as a closely held private entity with no disclosed parent company, institutional investors, or funding rounds, and no executive management team is publicly listed. Distribution is direct-leasing to tenants of completed rental buildings.
Greenstone Developments firmographics
Firmographics- Name
- Greenstone Developments
- Legal name
- Greenstone Developments
- Website
- https://greenstonedevelopments.ca
- Company type
- Private
- Founded year
- 1984
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Greenstone Developments is a private Kelowna, BC-based real estate developer founded in 1984 that builds and operates purpose-built rental housing across British Columbia, targeting residential tenants in tight local markets with a long-term hold and ownership model.
- Ownership category
- akta.pro rank
Greenstone Developments industry classification
Industry- Product category
- Residential Real Estate Development
- NAICS
- Land Subdivision (2372), Residential Building Construction (23611)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), Operators Of Apartment Buildings (6513)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Greenstone Developments is headquartered
LocationHeadquarters
- HQ city
- Kelowna
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Greenstone Developments business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales
Marketing channels2 records
Greenstone Developments product offering
Product offeringCore offering
Greenstone Developments is a real estate development company that builds and owns purpose-built multi-family rental buildings across British Columbia, focusing on quality, professionally managed properties with inclusive services. The company also acts as a development consultant, with a stated long-term goal to partner on and ultimately own 2,000 rental units over the next 10 years.
Product overview
Greenstone Developments is a real estate development company offering a portfolio of residential rental property projects across British Columbia, Canada. The company operates two primary product lines: completed rental buildings (such as Willoughby Walk in Langley, BC) and development-stage projects (such as Bottom Wood Lake Rd.). These projects range from multi-story wood frame buildings to purpose-built rental towers, with the company aiming to partner on and ultimately own 2,000 rental units in the next 10 years.
Differentiator
Problem solved
Functional benefit
Products and services
- Willoughby Walk A six-story purpose-built rental building comprising 181 units located in Langley, BC. Completed in 2015, the building features a modern design with accents of earthy browns and wood, and is part of Greenstone's rental housing portfolio for residential tenants.
- Bottom Wood Lake Rd. A four-story wood frame rental building currently in the development stage in the Okanagan/Kelowna area, with estimated completion in 2025. Designed for residential rental tenants as part of Greenstone's expansion of its BC rental portfolio.
- Development Consulting Services Development consulting services offering decades of combined construction and development expertise to stakeholders and partners in British Columbia's real estate market. The company positions itself as a development consultant working collaboratively with stakeholders to develop quality homes.
Quantifiable outcome
- Historic low vacancy rate in Okanagan being addressed through new rental development
Companies that use Greenstone Developments
Customer profileSegments3 records
Ideal customer profiles1 record
Greenstone Developments technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Greenstone Developments partnerships and signals
Strategic signalScale indicators5 records
Recent moves4 records
Expansion highlights3 records
Greenstone Developments competitors and assessment
Company assessmentEmerging players
- Adera Development Group: BC-based developer focused on wood-frame multifamily rental and for-sale projects in the Lower Mainland and Vancouver Island. Comparable as a BC purpose-built residential developer with rental exposure, though smaller in scale.
Direct peers
- Cressey Development Group: Vancouver-based residential developer with a long track record of mid- and high-rise multifamily projects in BC. Comparable as a regional purpose-built residential developer serving the same Greater Vancouver / Fraser Valley corridor.
- Polygon Homes: BC-focused homebuilder with a large portfolio of multifamily communities throughout the Lower Mainland and Vancouver Island. Comparable as a regional residential developer with a similar BC operating footprint.
- Wesgroup Properties: Private BC-focused real estate developer with rental, mixed-use, and master-planned community projects across the Lower Mainland. Directly comparable as a regionally focused BC developer with rental and for-sale exposure.
- Onni Group: BC-based private developer of multifamily residential, office, and retail projects across Western Canada and the U.S. West Coast. Directly comparable as a privately held BC multifamily developer with similar build-to-rent and for-sale strategies.
- Bosa Properties: Long-established BC residential developer active in the Lower Mainland with multifamily rental and condo projects. Comparable as a BC-based residential builder-developer with similar customer segments and product types.
Broad incumbents
- CAPREIT (Canadian Apartment Properties REIT): Largest Canadian residential REIT with a national portfolio of multifamily apartments. Comparable as a broad incumbent owning and operating purpose-built rental apartment buildings across Canada.
- Killam Apartment REIT: Canadian apartment REIT owning and operating multifamily rental properties across Canada, with growing BC exposure. Comparable as a large-scale, publicly traded residential rental operator with a similar long-hold strategy.
- Boardwalk REIT: One of Canada's largest residential landlords, owning and operating tens of thousands of multifamily units primarily in Alberta, Saskatchewan, and BC. Comparable as a multi-family rental operator pursuing long-duration ownership of purpose-built apartments.
- Morguard Corporation: Canadian real estate company owning, developing, and managing a diversified portfolio of residential and commercial properties. Comparable as a diversified real estate owner-operator with multifamily rental exposure across Canada.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Greenstone Developments social profiles
Digital presenceGreenstone Developments financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greenstone Developments leadership team
Management profileNumber of profiles
Greenstone Developments funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greenstone Developments M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greenstone Developments
What does Greenstone Developments do?
Greenstone Developments is a real estate development company that builds and owns purpose-built multi-family rental buildings across British Columbia, focusing on quality, professionally managed properties with inclusive services. The company also acts as a development consultant, with a stated long-term goal to partner on and ultimately own 2,000 rental units over the next 10 years.
Is Greenstone Developments a public or private company?
Greenstone Developments is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Greenstone Developments founded?
Greenstone Developments was founded in 1984. It employs 1 to 10 people.
Where is Greenstone Developments based?
Greenstone Developments is headquartered in Kelowna, Canada, in the North America region.
Who are Greenstone Developments's main competitors?
Adera Development Group is listed as an emerging player. Direct peers are Cressey Development Group, Polygon Homes, Wesgroup Properties, Onni Group and Bosa Properties. Broad incumbents are CAPREIT (Canadian Apartment Properties REIT), Killam Apartment REIT, Boardwalk REIT and Morguard Corporation.
Does Greenstone Developments have an API?
No public API is recorded for Greenstone Developments.
What industry is Greenstone Developments in?
Greenstone Developments's product category is Residential Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities). Its NAICS code is 2372 and its SIC code is 6552.