A genetic algorithm for building-block placement of ICs and MCMs is presented that simultaneously minimizes layout area and an Elmore-based estimate of the maximum path delay while trying to meet a target aspect ratio. Explicit design space exploration is performed by using a vector-valued, 3-dimensional cost function and searching for a set of distinct solutions representing the best trade-offs of the cost dimensions. From the output solutions, the designer can choose the solution with the preferred trade-off. In contrast to existing approaches, the required properties of the output solutions are specified without using weights or bounds. Consequently, the practical problems of specifying these quantities are eliminated. Promising experimental results are obtained for various placement problems, including a real-world design. Solution sets representing good, balanced cost trade-offs are found using a reasonable amount of runtime. Furthermore, the performance is shown to be comparable to that of simulated annealing in the special case of 1-dimensional optimization, in which direct comparison is possible.