What Developers Collaborative does

Developers Collaborative is a Portland, Maine-based for-profit real estate development firm founded in 2010 by Kevin Bunker that develops affordable, workforce, market-rate, and senior housing alongside commercial and historic preservation projects across at least 10 Maine communities. Its portfolio spans ~250+ owned units across product lines including the 208-bed Homeless Services Center in Portland, Rumery Lofts (38 units, adaptive reuse of a 1928 building), Peasley Park (49-unit senior housing, Rockland), Congress Square Commons (48-unit mixed-income, Belfast), Riverbrook Apartments (30 units, South Portland), Griffin Road Apartments (55+ in Scarborough), The Motherhouse at Stevens Square, Freedom Place (transitional housing), and the proposed McLain School (44 units) and former Augusta police station (~100 units) developments. Technical differentiators center on LEED Gold-certified construction, passive-house-level envelopes, fossil-fuel-free operations with rooftop solar arrays (e.g., 107.8 kW at the Homeless Services Center, 175 MWh/year at Congress Square Commons), and historic preservation expertise rather than any software or AI capability.

The business model operates across three revenue streams: (1) recurring residential rental income from owned and stabilized properties (market rate units at $1,750–$2,600/month, workforce at $1,445–$1,917/month, affordable up to 80% AMI), (2) development fees earned on projects structured for municipalities, nonprofits, and private clients using complex multi-source financing (LIHTC, HOME, HTF, CDBG, TIF, project-based vouchers, construction loans from Gorham Savings, NBT Bank, Maine Community Bank, Evernorth, and CEI), and (3) ongoing property and asset management fees through the wholly-owned DC Management subsidiary, which also serves select third-party Maine clients. Go-to-market mixes direct-to-consumer leasing (DC Management, dcmaine.com, 207-772-3225) with enterprise/B2G development sales to municipal partners and housing authorities. Customers include individual renters across senior, workforce, and market-rate segments; government clients (City of Portland, Belfast, Augusta, Auburn Housing Authority, MaineHousing, Maine DECD); and social service partners such as Spurwink Services and Volunteers of America of Northern New England that provide on-site supportive services.

Operational leadership consists of Founder Kevin Bunker, CFO/COO Eric Boucher (appointed March 2026, previously 15+ years as EVP/CFO/COO at Avesta Housing), and COO Amanda Bartlett. The firm is privately held with no disclosed external institutional investors, and its value proposition rests on combining a community-and-listening-based planning approach with end-to-end execution from site selection through long-term property management—supported by deep municipal relationships, regulatory expertise in affordable housing finance, and recognition as Maine's leading developer of neighborhood-enhancing projects.

Name

Developers Collaborative

Legal name

Developers Collaborative

Website

https://developerscollaborative.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Portland, Maine-based real estate developer building affordable, workforce, market-rate, and senior housing plus historic preservation projects across Maine, generating revenue from rental income, development fees, and property management via its DC Management subsidiary.

Ownership category

akta.pro rank

Product category

Real Estate Development Services

NAICS

Residential Building Construction (23611), New Multifamily Housing Construction (except For-Sale Builders) (236116), Land Subdivision (23721)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE), Retail & Mixed-Use Commercial Construction (IMAFACAB)

Keywords

• Affordable housing development
• Real estate development
• Property management services
• Senior housing development
• Historic building restoration

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Property management fees: DC Management provides full-service commercial and residential property management, generating management fees from owned properties and select client properties in Maine
2. Development fees: Fees earned from developing housing projects for municipalities, nonprofits, and private clients. Projects include affordable, workforce, market rate, and transitional housing
3. Residential rental income: Revenue from market rate, workforce, and affordable apartments at properties including Rumery Lofts (38 units), Riverbrook, Congress Square Commons (48 units), Peasley Park (49 units), and others

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Developers Collaborative is a Maine-based real estate development firm that plans, finances, builds, and operates mixed-use residential and commercial projects spanning affordable, workforce, market rate, and senior housing, including adaptive reuse of historic buildings and emergency/transitional facilities. The company operates its own property management subsidiary, DC Management, to lease and manage its portfolio and select third-party properties. It partners with municipalities, state housing agencies, and social service nonprofits on publicly-supported developments.

Product overview

Developers Collaborative operates as a real estate development company with a portfolio of residential and commercial projects across Maine. The company's core offering encompasses multiple housing product lines: affordable senior housing (Peasley Park, Griffin Road Apartments, The Motherhouse at Stevens Square), affordable multifamily housing (Congress Square Commons, McLain School Project), market rate housing (Riverbrook Apartments, Rumery Lofts), and transitional/specialized housing (Homeless Services Center, Freedom Place). DC Management provides integrated property and asset management services for the portfolio. Projects span affordable, workforce, and market rate segments across Maine communities including Portland, South Portland, Scarborough, Rockland, Belfast, Augusta, and Bath, with historic preservation and adaptive reuse as key differentiators.

Differentiator

Problem solved

Functional benefit

Products and services

• Rumery Lofts 38 loft-style apartments at 509 Forest Avenue in Portland (28 market rate and 10 workforce/income-restricted) inside a converted 1928 auto showroom and dance hall, with 12,000 SF of first-floor commercial space, polished concrete floors, high ceilings, in-unit laundry, heated garage parking, and secure bike storage.
• Riverbrook Apartments

Quantifiable outcome

• 208-bed facility completed under budget and within one month of original schedule despite COVID-19 mid-stream design changes and soil remediation
• +3 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

23 partnerships are on record, tiered core and minor.

• Town of RumfordcoreStrategic or Co-development PartnerLocal government partnership for the $11M senior housing project at 101 Hancock St., redeveloping a site damaged by the 2020 fire.
• Portland Builders Inc.minorImplementation/ SI/ Consulting PartnerGeneral contractor for the Rumford senior housing project.
• Gorrill PalmerminorImplementation/ SI/ Consulting PartnerEngineering consultant for Rumford senior housing project.
• Invivid ArchitectureminorImplementation/ SI/ Consulting PartnerArchitecture firm providing design services for the Rumford senior housing project.
• Curtis ThaxterminorImplementation/ SI/ Consulting PartnerLegal counsel for Rumery Lofts development.
• Berry DunnminorImplementation/ SI/ Consulting PartnerAccounting firm providing services for Rumery Lofts project.
• Essex Preservation ConsultingminorImplementation/ SI/ Consulting PartnerHistoric preservation consultant for Rumery Lofts adaptive reuse project.
• Ducas ConstructionminorImplementation/ SI/ Consulting PartnerConstruction services for Rumery Lofts project.
• The Boulos CompanyminorChannel Partner/ Reseller/ DistributorCommercial real estate broker handling leasing for 12,000 SF of commercial space at Rumery Lofts.
• City of PortlandcoreStrategic or Co-development PartnerPartner on Homeless Services Center (654 Riverside Street). City provided $6.5M upfront payment and $6.5M COVID relief funds, selected Developers Collaborative via RFP.
• CianbrocoreImplementation/ SI/ Consulting PartnerConstruction partner for Homeless Services Center using pre-engineered Murox building system. Also delivered 179-bed asylum seeker shelter in November 2023.
• Winton Scott ArchitectscoreImplementation/ SI/ Consulting PartnerArchitecture firm designing Homeless Services Center - durable, functional, comfortable, and humane design maximizing natural light.
• City of BelfastcoreStrategic or Co-development PartnerPartner on Congress Square Commons development. Created Affordable Housing Tax Increment Financing District and secured CDBG Housing Assistance Program funding.
• Penobscot General ContractorsminorImplementation/ SI/ Consulting PartnerGeneral contractor for Congress Square Commons new construction project.
• Archetype ArchitectsminorImplementation/ SI/ Consulting PartnerProject architect for Congress Square Commons development.
• C&C Realty ManagementminorChannel Partner/ Reseller/ DistributorProperty management company handling leasing for Congress Square Commons (207-621-7700).
• Lake City Holdings LLCcoreStrategic or Co-development PartnerJoint venture partner with Developers Collaborative for McLain School redevelopment in Rockland. Lake City also developed Criehaven Lofts above Loyal Biscuit.
• Auburn Housing AuthoritycoreStrategic or Co-development PartnerHousing authority coordinating 30-bed housing first project in Auburn, owning property and partnering with Developers Collaborative for development.
• Spurwink ServicescoreStrategic or Co-development PartnerSocial services provider offering 24-hour on-site services for Auburn housing first development, modeled after Preble Street's programs.
• Preble StreetminorStrategic or Co-development PartnerPortland nonprofit operating housing first programs (Huston Commons) that serve as model for Auburn project.
• Johnson Hall Redevelopment LLCminorStrategic or Co-development PartnerHistoric restoration of Johnson Hall Opera House in Gardiner. Developers Collaborative engaged as consultant on historic tax credit strategy.
• Augusta Housing AuthoritycoreStrategic or Co-development PartnerPartnership on Riverlands project (25 units for chronically homeless) and other affordable housing initiatives in Augusta.
• Volunteers of America of Northern New EnglandcoreStrategic or Co-development PartnerDeveloper of Riverlands 25-unit supportive housing project for chronically homeless with 24/7 staff and wraparound services.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Avesta Housing: Maine's largest affordable housing nonprofit, directly comparable as both developer and operator of affordable multifamily housing across Maine. Strongly relevant because Developers Collaborative's new CFO/COO Eric Boucher previously spent 15+ years as Avesta's EVP/CFO/COO, indicating direct familiarity and likely overlap in markets, funding sources, and tenant segments.
• Wishrock Housing Group: Portland, Maine-based real estate development and property management organization focused on affordable and mixed-income housing. Directly comparable in geographic market (Portland metro), product type (affordable multifamily), and mission-driven approach.
• Community Housing of Maine: Maine-based nonprofit developer and manager of affordable rental housing serving low-income households, including supportive housing for vulnerable populations. Closely comparable to Developers Collaborative's affordable housing and Housing First segments.
• The Caleb Group: Maine nonprofit developer of affordable housing serving people with intellectual disabilities and other vulnerable populations. Comparable in operating geography (Maine), affordable housing focus, and reliance on LIHTC and state housing finance.
• Dakota Partners: New England-based affordable housing development and consulting firm specializing in LIHTC-financed multifamily projects. Comparable in product type, funding model (LIHTC-heavy), and regional New England focus.

Broad incumbents

• Pennrose: Multi-state affordable housing developer and property manager with significant Northeast presence. Comparable product mix (affordable, workforce, mixed-use, mixed-income) and capital-stack structuring capabilities, though at substantially larger scale and broader geographic footprint.
• Beacon Communities: Northeast-based affordable and mixed-income housing developer and manager. Comparable in product type (workforce, affordable, mixed-use) and use of LIHTC and public financing, with broader geographic footprint and larger institutional capacity.
• WinnCompanies: Boston-based multifamily developer, owner, and manager with substantial New England affordable and market-rate portfolio. Comparable in integrated development-plus-property-management model, though at much larger scale and national footprint.
• The Community Builders: Northeast-based nonprofit developer of affordable and mixed-income housing. Comparable mission-driven model, LIHTC-financed multifamily product, and integration of supportive services, though with significantly larger portfolio and broader geographic reach.

Emerging players

• Preservation of Affordable Housing (POAH): National nonprofit focused on preserving and developing affordable rental housing. Comparable mission and product type, particularly relevant for Developers Collaborative's adaptive reuse and historic preservation activities; operates at larger scale but with similar values-driven positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@developerscollaborative7966
• Facebookfacebook.com/developerscollaborativemaine
• LinkedInlinkedin.com/company/developers-collaborative-maine
• Instagraminstagram.com/developerscollaborative

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Developers Collaborative