Union Development Company, Inc., founder R.E. Ibbetson got his start by subdividing land to build tract homes. The Lakewood, California, houses on Ibbetson Avenue were among the first tract homes built in Los Angeles County prior to WWII.
In the early years, Union Development Company, Inc., owned and managed extensive dairy and agricultural properties throughout Los Angeles and Imperial Counties. The 1,500 acres of farmland included crops such as barley, cotton, melons, and alfalfa.
Over time, the family-owned company diversified and redeveloped much of this farmland for residential and commercial use. In 1953, Union Development Company built the first enclosed shopping mall in Southern California; it was a 25-acre complex in Lakewood, known as “Dutch Village.”
Union Development Company, Inc.’s current holdings exceed 1.5 million square feet of properties and include retail shopping centers, apartment complexes, office buildings, industrial parks, self-storage units, and R.V. storage facilities. In each endeavor, the company remains committed to the high standards of quality set forth by its founder.
After 110 years of ownership by the Ibbetson family, the company was sold in 1996 to an entity controlled by Barker Pacific Group and Angelo Gordon & Company, a major New York-based investment manager. Barker Pacific Group is the manager of Union Development, which continues to operate as an independent company.