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Stanley Investment Company was founded by Louis Timothy Melton and was named after his young son. The company specialized in west Edmonton real estate and in particular the Jasper Place community. Lots were sold for $100 each with a $5 down payment.
The company name was changed to L.T. Melton Realty and was essentially a one-man operation until 1942.
Stan Melton bought the business from his father.
Several subsidiary companies were formed to complement the brokerage business, including: Melton Petroleum, Melton Insurance Agency, Sillton Developments (land development), Melton Homes, Trans-Canada Mortgage Corporation and First Investors Corporation.
Melton Real Estate expanded across western Canada
Edmonton’s population was 170,000 and there were 16 Melton Real Estate offices strategically placed to provide specialized service to specific communities.
Stan Melton felt strongly that employees should have the ability to own a piece of the company they worked for, so the company became publically trade and was first listed on the Vancouver Stock Exchange.
Melton Real Estate celebrated 15 consecutive first place finishes in MLS production. The company was the number one ranked real estate company in western Canada.
Stan Melton died of a sudden heart attack at the Western Final football game between the Edmonton Eskimos and the Saskatchewan Roughriders at the age of 54. Garry Holmes was appointed president of the company. Tim Melton, who had been with the company for 3 years, was named corporate vice president.
Timothy Charles Melton was appointed president of Melton Real Estate. The company now had dozens of offices and a sales force numbering in the 100s, however the land division assets were a growing and lucrative part of the business.
Tim and the Melton Board decided that selling the brokerage business was in the best interest of the company’s shareholders. It was sold to A.E. Lepage Real Estate for $4.25 million and required a name change. The directors approved the name Melcor Developments Ltd.
Ralph Young appointed president and Tim Melton appointed chairman and CEO.
Ralph Young named president & CEO. Tim Melton retains executive chairman position.
Brian Baker appointed president & CEO.
Melcor Developments Ltd. announces record breaking revenue of $313 million.
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