Devcore

What Devcore does

Devcore is a privately held Canadian real estate developer, builder, and property manager headquartered in Gatineau, Quebec, with offices in Cornwall, Sept-Îles, Ottawa, and Maniwaki. Founded approximately two decades ago, the company develops, owns, and manages a portfolio of nearly 3,000 residential rental units — including apartments, condos, townhouses, and single-family homes — across Quebec and Ontario secondary markets such as Gatineau, Ottawa, Cornwall, Maniwaki, Val d'Or, Sept-Îles, and Thurso, representing nearly $500 million in real estate assets. Named properties include Le CENTRAL, CINQ23, Domaine de la Baie, 1Place Thurso, the Sept-Îles portfolio (555 doors), and the DEV Centre campus in Cornwall. Differentiated named projects span from seniors housing (1Place Thurso) and emergency/transitional homelessness initiatives (Campement Guertin, Village Transition) to urban infill mixed-use (CINQ23).

The company's core technological differentiator is its sister company 1VALET, a proprietary smart building operating system that integrates facial recognition access control, video calling entry consoles, app-based temperature and amenity control, real-time package notifications, and a marketplace for on-site services (massage, medical, hairdressing). This stack is deployed across smart-branded Devcore buildings and represents a vertically integrated hardware/software layer that competitors must purchase externally. Devcore also operates a construction arm, holding multiple APCHQ Master Builder awards including the 2024 Palme d'Or Platinum.

Devcore's business model combines four revenue streams: (1) monthly residential rental income from owned units at all-inclusive pricing typically $1,299–$2,000+ per month, (2) one-time sales of investment and residential properties including CMHC-financed APH Select sales with 10% down and up to 50-year terms, (3) recurring management of pooled investor capital through the Devcore Equity Fund (co-ownership with value-enhancement) and Devcore Income Fund (stable rental distributions), and (4) third-party asset management fees. Customer segments include individual renters, individual real estate investors, corporate housing clients (notably in Sept-Îles), and seniors aged 50+. Distribution is sales-led through direct leasing agents, on-site trailers, and the corporate website, supported by social media and earned media around humanitarian initiatives that have earned regional awards including the 2025 Mercuriades Community Engagement prize.

Name

Devcore

Legal name

Devcore

Website

https://devcore.ca

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Devcore is a private Canadian real estate developer, builder, and property manager operating approximately 3,000 smart-enabled residential units across Quebec and Ontario, integrating proprietary 1VALET facial recognition and building automation. It serves individual renters, real estate investors via Equity and Income Funds, corporate clients, and seniors.

Ownership category

akta.pro rank

Headquarters

HQ city

Quebec

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Rental Income: Monthly rental income from owned portfolio of approximately 3,000 residential units across Quebec and Ontario. Units include apartments, townhouses, condos, and single-family homes with various amenity packages.
2. Property Sales: Sale of residential properties including condos, townhouses, and multi-residential developments to individual investors and end-users.
3. Investment Fund Management: Devcore Equity Fund allows investors to co-own strategic real estate assets with long-term growth through value-enhancement strategies. Devcore Income Fund generates stable rental income with quarterly distributions.
4. Asset Management Fees: Fees from managing properties for third-party owners and investment portfolios.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Devcore is a residential real estate developer, builder, and property manager that develops, constructs, and manages approximately 3,000 rental units across Quebec and Ontario. The portfolio spans apartments, condos, townhouses, and single-family homes with integrated 1VALET smart building technology offering facial recognition access, digital service booking, and package notifications. The company also offers real estate investment opportunities through its Equity Fund and Income Fund, with CMHC-backed financing enabling 10% down payments for individual investors.

Product overview

Devcore is a residential real estate developer, builder, and property manager offering rental apartments, condos, and townhouses across Quebec and Ontario. The portfolio spans approximately 3,000 units valued at nearly $500 million in markets including Gatineau, Ottawa, Cornwall, Val d'Or, Sept-Îles, Maniwaki, and Thurso. Core products include 1VALET smart building operating system enabling facial recognition access, video calling entry, package notifications, and amenity reservations. Named residential projects include Le CENTRAL (Maniwaki), CINQ23 (Gatineau), Domaine de la Baie (Gatineau), 1Place Thurso, Sept-Îles portfolio (555 units), and DEV Centre (Cornwall). Devcore also offers investment opportunities including Equity Fund and Income Fund for real estate co-ownership.

Differentiator

Problem solved

Functional benefit

Brands

• 1VALET: Smart building operating system and digital platform providing facial recognition access, temperature control, package notifications, and concierge services to residents.

Products and services

• Le CENTRAL Rental community in Maniwaki, Quebec featuring 28 modern residential units (1-3 bedrooms) with all-inclusive package. Smart apartments with 1Valet facial recognition access, temperature control from phone, and package notifications. Starting at $1,499/month.
• Domaine de la Baie Gatineau's first smart living residence featuring high-quality materials, spacious balconies, insulated concrete construction, 1Valet technology with digital entry, virtual concierge, theater room, pool table, rooftop terraces with BBQ, underground parking with EV charging, and building elevator.
• 1Place Thurso

Quantifiable outcome

• 268% increase in homelessness in Outaouais region since 2018
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Transition QuébeccoreStrategic or Co-development Partner · 1 May 2024Non-profit organization managing Village Transition project for temporary housing of people experiencing homelessness. Nancy Martineau, former Director of Humanitarian Projects at Devcore, now serves as Executive Director of Transition Québec.
• 1VALETcoreStrategic or Co-development Partner · 1 April 2024Sister company and prominent Canadian leader in smart building operating systems. Part of 1601 Telesat Court in Ottawa will house 1VALET's future headquarters.
• NexLiving CommunitiesmajorStrategic or Co-development Partner · 1 January 2024Transaction comprising 16 properties and 991 units sold to NexLiving, doubling their portfolio to 2,157 units. Devcore assets valued at approximately $225 million. Jeff York, partner of Jean-Pierre Poulin, serves as Chairman of NexLiving Board.
• Ville de GatineaucoreOthers · 1 December 2023Partner in Campement Guertin and Village Transition initiatives, providing land and infrastructure support for homelessness solutions.
• CISSS de l'OutaouaiscoreOthers · 1 December 2023Centre intégré de santé et de services sociaux de l'Outaouais supporting Village Transition with health and social services.
• Groupe Gatineau-OttawaminorStrategic or Co-development Partner · 1 January 2023Devcore is co-owner of the Ottawa Senators through partnership with Michael Andlauer and Groupe Gatineau-Ottawa.

Scale indicators11 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• NexLiving Communities: Canadian multifamily residential REIT focused on secondary and tertiary markets in Ontario and Quebec. Direct comparability is established through the 2024 transaction in which Devcore sold 16 properties (991 units) to NexLiving, materially expanding NexLiving's portfolio.
• Brigil: Gatineau-based residential developer and landlord with a significant multifamily rental footprint in the National Capital Region. Comparable as a Quebec-focused residential operator developing and leasing apartments in overlapping Ottawa-Gatineau submarkets; also listed as a Campement Guertin funding partner.
• Mainstreet Equity Corp: Canadian mid-market multifamily acquirer and operator known for value-add repositioning of aging apartment buildings across secondary markets in Alberta, Saskatchewan, Ontario, and Quebec. Directly comparable in strategy: acquire undermanaged multifamily assets, renovate, lease at market rates.
• BSR REIT (formerly Bluestone Residential REIT): Canadian multifamily REIT focused on mid-market apartment communities in Quebec, Ontario, and Alberta. Comparable as a publicly listed multifamily acquirer in similar secondary markets across the same provinces.

Broad incumbents

• Killam Apartment REIT: Canadian multifamily REIT owning and operating apartments and townhomes, with a meaningful Quebec and Ontario portfolio. Comparable as a public multifamily operator investing in markets similar to Devcore's footprint.
• Dream Unlimited Corp: Canadian real estate company with residential and development operations across Ontario and Quebec. Comparable as a broader residential developer/landlord active in some of Devcore's markets.
• Minto Group: Canadian residential developer and landlord with multi-family rental and condo portfolios across Ontario and Quebec, including the National Capital Region. Directly comparable as a much larger established residential operator in Devcore's core footprint.
• Boardwalk REIT: One of Canada's largest residential landlords operating multifamily communities across Alberta, Saskatchewan, Ontario, and Quebec. Comparable as an institutional-grade multifamily operator with significant Quebec exposure.

Regional players

• Taggart Group of Companies: Ottawa-based real estate developer with residential rental and community development activity across the National Capital Region. Comparable as a regional residential developer landlord in overlapping Ottawa-Gatineau geography.

Others

• 1VALET: Sister company and platform vendor providing the smart building operating system that powers Devcore's residential portfolio (facial recognition, smart access, amenity booking). Included as a related party, not a competitor, but a meaningful operational dependency in Devcore's tech stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@GroupeDevcore
• Facebookfacebook.com/DevcoreGroup
• LinkedInlinkedin.com/company/devcore-group
• Instagraminstagram.com/groupedevcore

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Devcore