Spruceland Properties Inc.: Social Enterprise through Real Estate Development
In February 2016, SpruceLand Properties Inc. (SpruceLand) faced a difficult decision that would determine the future of the company. SpruceLand had been founded as a community development company mandated to create financial returns while engaging in socially beneficial projects. Residents of the northern Alberta region could choose to be shareholders and invest in their own communities' economic development. The company had grown successfully, but it had become a victim of its own success. It had diversified investments and continued to grow and be profitable, but the company's initial mandates had long been achieved and the liquidity of shares remained a problem. What actions should the chief executive officer recommend to the board? Pernille Goodbrand is affiliated with University of Calgary. Thomas Holloway is affiliated with University of Calgary.