Specializing in Maine real estate development
Coming Spring 2024: Renovated 3 BR, 2 BA, 2,100 SF waterfront home in Clifton!
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
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 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.
Single-Family Homes Renovated and Sold
2023 -- 7 Island Avenue, 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.
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.
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.
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
Fifth / Final phase -- September 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
Welcome our Bulldozer -- May 2023
Our Newest Toy -- Meet our Excavator -- July 2022!
Our New Skid Steer / Bobcat On The Jobsite!
For more information on our company or on available properties and units, contact David Spencer
at email@example.com or (207) 951-2896.