What Shaheen Development does

Shaheen Development is a family-owned real estate development company headquartered at 1100 South Washington Avenue, Saginaw, Michigan, founded in the early 1960s and now led by brothers Samuel Shaheen, M.D. (President and CEO) and Peter Shaheen (Vice President). The firm develops, owns, and manages more than one million square feet of residential, mixed-use, commercial, healthcare, and senior-living real estate across Michigan's Great Lakes Bay Region (Saginaw, Bay City, Midland), with selected expansion into Albion. Its underlying capabilities center on brownfield redevelopment of contaminated industrial sites into mixed-use waterfront communities, historic preservation/restoration, and LEED-certified green construction, with notable projects including the 43-acre Uptown Bay City ($40M+ invested, 500+ jobs created), the $25M H Residence in Midland, the 206,000 sq ft LEED Silver Dow Chemical Business Services Center, the $9M Temple Theatre restoration, and The Manors senior living campus.

The company's revenue model combines one-time and recurring streams: real estate development and sales (condominium units priced $152K–$495K; project leasing), recurring property management fees on more than one million square feet of managed space, residential rental income (one-bedroom units from $975/month, two-bedroom from $1,150/month), and commercial leasing to enterprise tenants across technology, financial services, healthcare, hospitality, and education verticals. Go-to-market is direct — the company serves as developer, owner, and property manager for its portfolio, supported by content marketing through its website, ribbon-cutting and community events, and earned local media coverage in outlets such as MLive, WNEM, ABC12, and Midland Daily News. Customer base spans Dow Chemical Company, Dow Corning, Chemical Bank, TATA Consultancy Services, Marriott, Covenant HealthCare, Michigan CardioVascular Institute, Ascension Health, Great Lakes Bay Health Centers, Albion College, and Central Michigan University, with public-private financial partnerships through MEDC, Michigan DEQ, and the U.S. EPA providing brownfield grants, tax-increment financing, and strategic site-acquisition support.

Name

Shaheen Development

Legal name

Shaheen Development

Website

https://shaheendevelopment.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

11–50 employees

Short description

Shaheen Development is a family-owned Saginaw, Michigan real estate developer that owns and manages over one million square feet of residential, mixed-use, commercial, healthcare, and senior-living properties across Michigan's Great Lakes Bay Region, specializing in brownfield redevelopment, historic preservation, and LEED-certified construction.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (2372), Land Subdivision (237210)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

Brownfield Redevelopment & Land Reclamation (Cleanup for Reuse, Risk-Based Closure) (EUAIALAI), Land Acquisition, Lot Development & Construction Financing (AD&C) (FSALAHAI)

Keywords

• Real estate development
• Mixed-use redevelopment
• Brownfield remediation
• Commercial property leasing
• Historic preservation

Headquarters

HQ city

Saginaw

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Real Estate Development & Leasing: Develops, owns, and manages residential, mixed-use, and commercial real estate. Generates revenue through property sales, commercial leasing, and residential rentals.
2. Property Management: Manages and leases space throughout Saginaw, Bay City and Midland. Manages more than one million square feet of real estate.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Shaheen Development is a family-owned, community-based real estate development company that develops, owns, and manages more than one million square feet of residential, mixed-use, commercial, healthcare, and senior living real estate in the Great Lakes Bay Region of Michigan. The company provides development/redevelopment, design/build, leasing, and land acquisition services, with particular expertise in brownfield remediation of contaminated industrial sites, historic preservation, and LEED-certified green construction.

Product overview

Shaheen Development is a family-owned, community-based real estate development company that owns and manages residential, mixed-use, and commercial real estate in the Great Lakes Bay Region of Michigan. The company's portfolio spans over one million square feet and includes: Uptown Bay City (a 43-acre waterfront mixed-use development), The H Residence (luxury mixed-use in Midland), commercial office buildings for major tenants like Dow Chemical and Dow Corning, senior living facilities (The Manors), healthcare real estate, technology parks, and historic restorations like The Temple Theatre. Their expertise includes development and redevelopment, design/build, leasing, and land acquisition services.

Differentiator

Problem solved

Functional benefit

Products and services

• Uptown Bay City A 43-acre waterfront mixed-use development in Bay City, Michigan, featuring commercial office space, residential condominiums and apartments, retail, restaurants, hospitality (Marriott Courtyard Hotel), and a marina. The project transformed a formerly blighted industrial site into a new urbanist-inspired neighborhood for office tenants, residents, restaurant-goers, and hospitality guests.
• The H Residence A five-story, 85,000-square-foot mixed-use development in downtown Midland at Ashman and Main streets featuring street-level restaurant and retail space, executive suites operated by the H Hotel, luxury condominiums, and a rooftop garden terrace. Targets downtown residents, hotel guests, and restaurant/retail patrons.
• The Manors A senior living campus in Saginaw comprising three buildings: McBrite Manor (103 independent living apartments), Shattuck Manor (140 assisted living rooms), and Meadow View (40 memory care rooms). Serves seniors and their families seeking independent living, assisted living, and memory care housing.
• Riverfront Medical Arts Campus A three-building, 180,000-square-foot Class A medical office complex on the Saginaw River in downtown Saginaw. Tenants include Michigan CardioVascular Institute, Ascension Health Systems, Tri-City Urology, and Pain Consultants of Michigan. Targets healthcare providers and medical practices seeking modern medical office space.
• The Temple Theatre A $9 million historic restoration of a 2,200-seat 1927 vaudeville theatre completed in 2002. Theatrical venue in Saginaw, recognized with the 2005 Governor's Award for Historic Preservation and 2006 Michigan Historic Preservation Network Building Award. Serves performing arts audiences and community event attendees.
• 101 E. Main Street at Uptown Bay City Mixed-use development project at 101 E. Main Street within the Uptown Bay City district, featuring residential apartment rentals including one-bedroom units approximately 900 sq ft starting at $975/month and two-bedroom units approximately 1,100 sq ft starting at $1,150/month. Targets individual renters seeking downtown living.
• 409 Ashman A two-story multi-tenant commercial building near downtown Midland completed in 2014. Tenants include Trinseo, Wells Fargo, and Century 21 Signature Realty. Targets office and service tenants.
• HORIZONS Center A 120,000 square foot remodeling and new construction project in Saginaw housing the Dow Chemical State Street Center, Central Michigan University, and the HORIZONS Conference Center. Targets enterprise office tenants and conference/event users.
• Concentric Park A 100,000 square foot technology-intensive office park on 30 acres in Carrollton Township featuring fiber optic communications, redundant power, and emergency generators. Home to XO Communications, CMU Health, Charter Media, and Konica Minolta. Targets technology tenants requiring resilient infrastructure.
• Cardinal Professional Plaza A 70-acre development in Saginaw's Kochville Township near Mackinaw and Tittabawassee Roads. Home to Anderson Eye Associates and Reimold Printing/CUAdvantage Marketing Solutions. Targets commercial medical and office tenants.

Quantifiable outcome

• Transformed 43-acre blighted industrial site into vibrant mixed-use waterfront community
• +2 more outcomes

Named customers14 records

Segments4 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

Eight partnerships are on record, tiered minor and core.

• Michigan Sugar CompanyminorStrategic or Co-development Partner · 18 June 2019Partnership for Cream & Sugar Ice Cream Company at Uptown Place. Michigan Sugar provides Pioneer Sugar products for ice cream production. Locally sourced ingredients strategy.
• Michigan Milk Producers AssociationminorStrategic or Co-development Partner · 18 June 2019Partnership for Cream & Sugar Ice Cream Company. MMPA provides dairy products from member farms. Jointly owned with HORIZONS Conference Center.
• Dow Chemical CompanycoreStrategic or Co-development Partner · 23 April 2018Collaboration on world-class Innovation Center. Shaheen Development serving as developer with Spence Brothers as construction manager.
• Spence BrotherscoreImplementation/ SI/ Consulting Partner · 23 April 2018Construction manager collaborating with Shaheen Development on Dow Chemical Innovation Center project.
• Main Street VenturescoreStrategic or Co-development Partner · 17 February 2017Partners for Gratzi Italian restaurant and Real Seafood Company. Ann Arbor-based restaurant group operating 18 distinctive eateries in 5 states.
• Turtle Cove PropertiescoreStrategic or Co-development Partner · 15 February 2017Joint development partnership for Gratzi restaurant in THE H Residence. Owned by David and Patti Kepler, long-time Midland residents.
• Albion CollegecoreStrategic or Co-development Partner · 19 May 2016Joint venture for Courtyard Marriott hotel development in downtown Albion. Shaheen Development as developer, Albion College as institutional partner.
• RiversEdge Development CorporationcoreStrategic or Co-development Partner · 2 December 2015Public-private partnership for Uptown at River's Edge. RiversEdge envisioned the project and selected Bay Riverfront Development/Shaheen family for execution.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Bedrock (Gilbert Capital): Detroit-based real estate firm focused on urban mixed-use and downtown redevelopment. Most comparable Michigan operator for transforming underused/industrial sites into vibrant mixed-use districts, with similar institutional tenant relationships and public-private partnership approach.
• The Forbes Company: Michigan-based developer of mixed-use, office, retail, and hospitality properties. Comparable product mix (mixed-use, Class A office, hotels) and regional focus in Michigan, with development scale similar to Shaheen's portfolio.
• Lormax Stern Communities: Michigan-based mixed-use, commercial, and industrial developer. Comparable in portfolio composition and regional operating focus, with experience developing Class A office, retail, and residential product in mid-Michigan markets.
• Soave Real Estate Group: Detroit-based diversified real estate developer and manager of mixed-use, multifamily, and commercial properties. Comparable in operating model (own/manage/develop) and regional focus on Michigan urban markets.
• REDICO: Michigan-based real estate investment and development company focused on mixed-use, office, retail, and multifamily. Similar geographic concentration in Michigan with experience in public-private partnerships and brownfield-adjacent urban redevelopment.
• Hunter Pasteur Homes: Michigan-based residential and mixed-use developer operating in Ann Arbor, Detroit suburbs, and other Michigan submarkets. Comparable in delivering residential product within mixed-use districts and working with institutional partners.
• Broder & Sachse Real Estate: Birmingham, MI-based developer of mixed-use, multifamily, and commercial properties across the Midwest. Comparable asset mix (mixed-use, multifamily, retail) and development scale to Shaheen's portfolio.

Regional players

• Signature Associates: Michigan-focused commercial real estate services and investment firm with development activity in the state. Comparable regional operating model and commercial tenant relationships, though primarily brokerage/investment rather than development-driven.

Others

• RiversEdge Development Corporation: Public-private partner that selected Shaheen for the Uptown at River's Edge project in Bay City. Listed because they are documented counterparty in Shaheen's pipeline and operate adjacent land/economic-development functions in the same region.

Emerging players

• Atria Senior Living: Owner/operator of senior living communities across the U.S. Comparable asset class to Shaheen's The Manors (independent/assisted/memory care). Different model (operator vs. developer/owner), but useful comp for senior living asset performance and demographics-driven demand.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Shaheen Development