Campeau Corporation was a Canadian real estate development and investment company founded by entrepreneur Robert Campeau. It was infamous from its ultimately unsuccessful acquisitions of American department store holding companies Allied Stores in 1986 and Federated Department Stores in 1988. The whole organization soon was mired in bankruptcy and spurred the decline of the regional department store.
History
Synonymous with its founder, Ottawa-based Campeau was able to construct both office complexes and residential subdivisions to accommodate Canada's rapidly expanding civil service. Campeau Corporation had two main rivals in the residential housing market: Assaly Construction Limited and Minto Developments Inc., the latter owned by the family of future Ottawa mayor Lorry Greenberg.
Policy
For many years, it was city policy in Ottawa that buildings in the downtown core not be taller than the Peace Tower of the Parliament Hill buildings. Campeau found this rule to be unnecessary and was drawn into conflict with city council over large high-rise developments such as Place de Ville. Campeau's real estate development success soon spread outside Ottawa. In Toronto, its notable developments included Scotia Tower (the city's second-tallest skyscraper) and the