Dunhill Developments was a large Vancouver-based developer, founded in 1967 as an amalgamation of several smaller firms. Originally named United Provincial Investments, the company went public in 1969, listing shares for sale on the now-defunct Vancouver Stock Exchange.
The company changed its name to Dunhill Development in 1972.
In 1976, the now government-owned Dunhill Development changed its name once again to the Housing Corporation of British Columbia.
The company is now defunct.
Beginning of the end
On June 7, 1974, all outstanding shares of the company were purchased by the B.C. provincial government of Dave Barrett, at the price of $4.28 per share for a total price of $5.8-million. Controversially, the principal of Dunhill Development, Mr. K.W. Paulus, personally benefited $3-million from the deal and received a 2-year employment contract from the provincial government to continue working for Dunhill.
While Dunhill enjoyed an excellent reputation as a quality builder capable of taking on and finishing large-scale commercial projects, they were constantly dogged by rumours of government favouritism which was only exacerbated by their ultimate takeover by the government in 1974.
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