Name

Selkirk Development

Legal name

Selkirk Development, LLC

Website

https://selkirkdev.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

New Construction & Builder Sales (BPAJAAAB)

Keywords

• Historic property redevelopment
• Urban real estate development
• Commercial property leasing
• Property management services
• Small business accelerator

Headquarters

HQ city

Spokane

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Development and Leasing: Selkirk Development acquires, redevelops, and manages rare and historical properties across the Inland Northwest. They generate revenue by developing and holding properties for lease to mixed-use, retail, office, and residential tenants. The company organizes properties around tenant needs and provides property management services.
2. Property Management Services: The company provides property management services to its own portfolio of redeveloped buildings, generating recurring management fees from tenants.
3. Papillon Fund Capital Deployment: Papillon Fund is a $40 million single-property syndicated real estate investment opportunity for the Papillon Towers development in Spokane, WA. Selkirk Development manages the fund and deploys investor capital into the development project, earning management fees (2% 2020, 2% 2021, 1% 2023), a hurdle rate of 8%, 50% catch-up, and 30% carried interest.
4. Fee Development and Consulting: Selkirk Development offers fee development and consulting services in addition to developing their own properties, generating fee-based revenue from third-party engagements.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Selkirk Development acquires, redevelops, and manages rare and historical properties across the Inland Northwest (Spokane, WA and Hayden, ID). The company leases mixed-use, retail, office, and residential spaces to tenants; provides property management, fee development, acquisitions, and consulting services; operates the Papillon Fund ($40M Opportunity Zone real estate investment); and runs the Small Business Accelerator to mentor and support small businesses opening physical locations in their buildings.

Product overview

Selkirk Development is a boutique urban development and management company specializing in the redevelopment of rare and historical properties in the Inland Northwest. Since 2007, the company has developed well-positioned, high-quality properties across the region. The company's core offering includes the Papillon Fund (a $40 million Opportunity Zone real estate investment), comprehensive real estate services (value add development, acquisitions, fee development, property management, and consulting), and the Small Business Accelerator program for emerging businesses. The portfolio spans multiple property types including office spaces (West Downtown Midcentury, The Bloomsday Building), mixed-use buildings (Browne's Addition, The Dormitory, SoDo Offices, Papillon Building), and retail properties (Fresh Soul, Hayden Commercial Bank, Hayden Retail Strip, Hayden Commercial Warehouse). The company is led by Sheldon Jackson with over 37 years of experience and emphasizes 'Historic Funk' development philosophy—respecting original architecture while evolving structures into modern gathering places.

Differentiator

Problem solved

Functional benefit

Brands

• Papillon Fund: A single-property syndicated real estate investment opportunity for the Papillon Towers development in Spokane's North Bank neighborhood, offering Opportunity Zone tax benefits.
• Small Business Accelerator (SBA)

Products and services

• Papillon Fund A single-property syndicated real estate investment opportunity offering accredited investors access to the Papillon Towers development in Spokane, WA's North Bank Neighborhood. The fund provides Opportunity Zone tax benefits (capital gains deferral, reduction, and elimination) with a $40 million fund size, $500,000 minimum investment, projected 17.55% IRR, and 2.45x equity multiple over a 10+ year period.
• Value Add Development Core real estate development service focused on repositioning and upgrading existing properties to increase their value and appeal to tenants through Selkirk's 'Historic Funk' redevelopment philosophy.
• Acquisitions Property acquisition services for identifying and purchasing strategic real estate assets in the Inland Northwest region.
• Fee Development Development services provided on a fee basis for third-party property owners seeking professional development expertise, leveraging 37+ years of industry experience.
• Property Management Comprehensive property management services for owned and managed real estate assets including tenant relations and maintenance, operated through the RentCafe tenant portal (Yardi).
• Real Estate Development Consulting Real estate development consulting services leveraging 37+ years of industry experience across diverse project types for third-party clients.
• Small Business Accelerator (SBA) A program that accelerates high potential small businesses and expedites the development process of opening physical locations in rare properties, providing access to mentorship, potential investment, and design support for new business locations.
• The Bloomsday Building (1610 W Riverside Ave) Updated West Downtown office building originally the headquarters of the Bloomsday Association, featuring bold modern design, fitness center, locker/shower/sauna, original artwork/murals, and top floor views of downtown Spokane.
• The Dormitory (1516 W Riverside Ave) Originally a women's dormitory built in 1903, fully remodeled with updated common spaces, tenant units, modernized utilities, private courtyard, and decks overlooking Spokane Falls.
• SoDo Offices (309 W 2nd Ave) Completely renovated and modernized building for commercial retail tenants and office/executive suites featuring roll-up doors, custom millwork, and heated floors.
• Papillon Building (908 N Howard St) Mixed-use property at the North Entrance of Riverfront Park representing prime commercial real estate with retail/hospitality spaces, original artwork by Ben Joyce, and proximity to Spokane Arena and Sportsplex.
• West Downtown Midcentury (1526 W Riverside Ave) A lovingly updated midcentury modern office building originally designed by Rohr Architects, featuring bold design, fitness center, deck, and views of Spokane River and Kendall Yards.
• Browne's Addition Mixed-Use (1614 W Riverside Ave) Mixed-use building under construction featuring restaurant, residential, and office space with modern finishes, river views, and rooftop patio.

Quantifiable outcome

• Papillon Fund projects 17.55% IRR and 2.45x equity multiple for investors over a 10+ year period
• +3 more outcomes

Named customers8 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

Partnerships

Four partnerships are on record, tiered core and minor.

• SERA (Spokane East Side Reunion Association)coreStrategic or Co-development PartnerSelkirk Development partnered with SERA on the Fresh Soul project, transforming a vacant building in East Central Spokane into a vibrant not-for-profit restaurant. Selkirk Development provided property and development support for the community-driven initiative.
• Bernardo Wills ArchitectscoreImplementation/ SI/ Consulting PartnerServed as the architecture firm for the Fresh Soul project in East Central Spokane. Bernardo Wills Architects designed the transformation of the vacant building into a not-for-profit restaurant, working with Selkirk Development and the SERA organization.
• Numerica Credit UnioncoreStrategic or Co-development PartnerNumerica Credit Union partnered on the Fresh Soul project as a community development initiative, providing financial support for the not-for-profit restaurant that serves youth life skills and job training in East Central Spokane.
• Gonzaga UniversityminorStrategic or Co-development PartnerGonzaga University partnered with Selkirk Development, SERA, and other organizations on the Fresh Soul project, contributing to the community development initiative in East Central Spokane.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Paces Properties: Paces Properties is an Atlanta-based boutique mixed-use developer known for transforming historic buildings into community-oriented retail and office destinations. Comparable to Selkirk's 'Historic Funk' model and small-business tenant positioning.
• Bosa Properties: Bosa Properties is a Vancouver-based mixed-use real estate developer with a strong portfolio of urban residential and mixed-use towers. Comparable to Selkirk in urban mixed-use development orientation and owned-investment-fund structures.
• Hanover Company: Hanover Company is a Texas-based privately held multifamily and mixed-use developer with a long track record in urban infill. Comparable to Selkirk in scale and mixed-use/residential product mix.
• The Kor Group: The Kor Group is a boutique Los Angeles-based real estate developer specializing in mixed-use, hotel, and historic adaptive-reuse projects. Comparable to Selkirk in scale, design-led approach, and mixed-use repositioning strategy.
• North American Properties: North American Properties is a mixed-use real estate developer with a portfolio of retail-anchored urban districts. Comparable to Selkirk in mixed-use tenant curation and community-oriented leasing approach.
• Tower Investments: Tower Investments is a boutique mixed-use real estate developer and operator focused on adaptive reuse and historic renovation projects. Highly comparable to Selkirk in scale, niche focus, and vertically integrated acquisition-to-management model.

Broad incumbents

• Bozzuto Group: Bozzuto Group is a mid-Atlantic diversified real estate firm with integrated development, construction, and property management. Comparable to Selkirk in vertical integration and small-team delivery of branded mixed-use assets.

Regional players

• Lake Union Partners: Lake Union Partners is a Seattle-based boutique urban real estate developer with a focus on mixed-use, live/work, and historic redevelopment in the Pacific Northwest. Closest geographic comparable to Selkirk's Inland NW focus.

Emerging players

• Sterling Bay: Sterling Bay is a Chicago-based real estate developer focused on transformative urban mixed-use districts. Comparable to Selkirk in community-driven, district-level urban redevelopment philosophy.
• Brook Partners: Brook Partners is a boutique real estate investment and development firm focused on mixed-use and historic projects in mid-sized U.S. cities. Comparable to Selkirk in geographic profile, niche focus, and small-team boutique positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SelkirkDevelopment
• LinkedInlinkedin.com/company/selkirk-development

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 Selkirk Development