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Specializing in Maine real estate development

New Apartments in Hampden! Fifth / Final Phase Now Under Construction - For leasing inquiries click here.


Based in the Bangor area, Black Bear Development, LLC seeks to unlock value in each of our real estate transactions. We specialize in the acquisition, renovation, development, and re-sale or lease of formerly distressed properties. Our goals are to ensure that each project or assignment is a financial success and enhances each location or community. Black Bear Development, LLC was formed by David Spencer in May 2019.

Projects to date have included purchase, renovation and management of a 6-unit apartment / commercial property in Brewer; construction of a 20-unit apartment community in Hampden; and the purchase, renovation and re-sale of numerous foreclosed, single-family homes throughout Central Maine.

David Spencer, President and CEO

David Spencer.

Immediately prior to forming Black Bear Development, LLC, David worked for two years in commercial lending for a large regional bank based in Maine. David also has construction experience with Hamel Builders, Inc. (Elkridge, Maryland) as an assistant site manager, working on renovation of a 150-unit apartment community in Takoma Park, Maryland, and new construction of seniors apartments in Germantown, Maryland. He also volunteered in July, 2012, on a Habitat for Humanity Metro Maryland home construction project in Morazán, El Salvador.

David is a 2017 cum laude graduate of the Maine Business School at the University of Maine, Orono, where he majored in Finance and Economics.

John Spencer, CPA, Vice President and CFO

John Spencer.

John has 40 years of experience in the development, financing and management of affordable and seniors rental housing in the Washington, DC area. He holds an undergraduate degree in Economics from the University of Pennsylvania and a MBA from the University of Maryland. John is a licensed CPA in Maryland.

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Single-Family Homes Renovated and Sold

2024 -- Clifton -- Renovated 3 BR, 2 BA, 2,100 sf home. Click here for details.

2023 -- Orono -- Renovated 2 BR, 1 BA single-family home. Click here for details.

2023 -- Hudson -- 2 BR, 1BA, 860 square foot newly renovated home. Click here for details.

2022 -- Newport -- 2 BR, 1BA, 960 square foot renovated home with garage. Click here for details.

2022 -- Stockton Springs -- 3 BR, 2BA, 2400 square foot renovated home with garage, barn, acreage and Penobscot Bay water view. Click here for details.

2021 -- Corinth -- Renovated 4 BR, 2 BA home with two-car garage, on 2 acres Click here for details.

2021 -- Glenburn -- Renovated 3 BR, 1 BA, 1200 square foot home with garage, on 1.65 acres. Click here for details.

2021 -- Union -- Renovated 3 BR / 2.5 BA, 2,058 square feet home.

2020 -- Bucksport -- Substantially renovated 3 BR, 2 BA, 1200 sf single-family home.

2020 -- Eddington -- Updated 4-bedroom, 2.5-bath single-family home with 2-car garage.

2019 -- Eddington -- Purchase, substantial renovation and re-sale of 3 BR, 2 BA single-family home.

2018 -- Lambert Road, Holden -- Purchase, subdivision and re-sale of 50-acre undeveloped tract of land.

Rental Apartments

2022 -- 2023 -- Rockhaven Apartments -- New construction of 20 two-bedroom, two-bath, one level apartment homes with garage on Canaan Road in Hampden. For progress photos, please see the Gallery.

2020 -- 347/349 Wilson Street, Brewer -- Four(4) newly renovated apartments and a total of 2,300 square feet of commercial and office space completed in June. Fully leased shortly after completion. For some before and after photos of our Wilson Street project, please click here.

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Work continues in Hampden on the eventual 20-unit new construction apartment community called Rockhaven Apartments. Two four(4)-unit buildings were completed and occupied during 2022. Two additional four-unit buildings have been completed and fully leased during 2023. All units are one-level, two-bedroom, two-bath homes with attached one-car garage, and include stainless steel appliances, washer and dryer, and patio. Click here to see plans of the new units. A fifth and final phase was started in Summer 2023, bringing the community to 20 total units. For leasing inquiries, click here. For progress photos of Rockhaven Apartments, please go to our Gallery.

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Rockhaven Apartments, Hampden

August 2023

Fifth / Final phase -- January 2024

Fifth / Final phase -- December 2023

First Four-Unit Building -- July 2022

Rockhaven -- Buildings #1 and #2 -- October 2022

Building #3 -- March 2023

Interior Progress Photos from Second 4-Unit Building

2020 Brewer Commercial Renovation

347 Wilson Street, Exterior - Before and After

349 Wilson Street, Exterior- Before and After

347 Wilson Street, Interior - Before and After

349 Wilson Street, Apartment - Before and After

2020 Union Single-family Home Renovation

Union, Exterior - After

Union, Kitchen - Before and After

Union, Bedroom - Before and After

Union, Bathroom - Before and After

Meet Other Members of Our Team

New Trailer -- August 2023

Welcome our Bulldozer -- May 2023

Our Newest Toy -- Meet our Excavator -- July 2022!

Our New Skid Steer / Bobcat On The Jobsite!

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For more information on our company or on available properties and units, contact David Spencer
at dspencer@blackbeardevelopmentllc.com or (207) 951-2896.

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Copyright © Black Bear Development LLC 2024

Last updated: 3/18/2024