What Anew Development does

Anew Development is an independent, founder-owned real estate development firm headquartered in Portland, Maine, founded in 2013 by principal Ethan Boxer-Macomber. The company provides start-to-finish development oversight for residential, commercial, and mixed-use projects across Southern Maine — including Portland, South Portland, Westbrook, and Auburn — and has delivered more than ten projects totaling over $80 million in development cost. Its portfolio spans adaptive reuse (Meetinghouse Lofts from the 1926 Roosevelt School), new-construction condominiums (65 Munjoy), commercial parking infrastructure (Arts District Garage), mixed-use downtown revitalization (62 Spring Street in Auburn), and deeply affordable senior housing developed through complex multi-source public capital stacks (Larrabee Commons, Harnois Apartments, Emery Apartments, Riverview Terrace, and Millbrook Estates I).

The firm's core product is the assembled, financed, and permitted development itself rather than any technology platform; the "underlying technology" is the developer's expertise in HUD programs (notably the first RAD conversion in Maine), low-income housing tax credits, project-based rental assistance, and capital stack assembly drawing on federal, state, county, municipal, and private financing. Anew's differentiation rests on the founder's combined training in urban planning (MS, UC Davis) and prior senior role at Avesta Housing, AICP and LEED AP credentials, and a tightly woven network of municipal and nonprofit partners that supports deal origination.

Anew's revenue is generated through developer fees, project-level equity participation, and property sales or long-term operations of completed assets. Pricing is project-specific and not publicly disclosed; total development costs on individual projects range from approximately $2.2 million to $23 million. The go-to-market is entirely sales-led and partnership-driven: Anew originates projects with public housing authorities, municipal governments, and nonprofit development corporations, then executes with a stable of regional architects, contractors, and capital providers. The company maintains no outside institutional capital, no disclosed management team beyond the principal, and a limited public pipeline (currently Shepley Street exploratory work in Portland's Arts District).

Name

Anew Development

Legal name

Anew Development

Website

https://anew-development.com

Company type

Private

Founded year

2013

Operating status

Operating

Short description

Anew Development is a Portland, Maine-based real estate developer founded in 2013 that delivers residential, commercial, and mixed-use projects across Southern Maine through public-private partnerships with housing authorities, municipalities, and nonprofits, primarily serving low-income seniors and middle-income homebuyers.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Land Subdivision (23721)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

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

akta.pro secondary industries

New Construction & Builder Sales (BPAJAAAB), Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH)

Keywords

• Real estate development
• Affordable housing
• Mixed-use development
• Adaptive reuse
• Senior housing

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development Services: Anew Development provides comprehensive, start-to-finish development oversight of large-scale projects including adaptive reuse and new construction. Revenue is generated through development fees, project equity, and property sales or long-term leasing upon completion.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Anew Development provides comprehensive, start-to-finish development oversight of large-scale residential, commercial, and mixed-use real estate projects across Southern Maine. Its portfolio spans adaptive reuse of historic buildings, new construction condominiums and apartments, affordable senior housing via HUD programs, market-rate housing, mixed-use retail developments, and commercial parking infrastructure. Revenue is generated through development fees, project equity, and property sales or long-term leasing upon completion.

Product overview

Anew Development is an independent, Maine-based real estate development company that provides comprehensive, start-to-finish development oversight of residential, commercial, and mixed-use projects. The company develops a diverse portfolio including market-rate and affordable housing (condominiums and rental apartments), commercial properties, and adaptive reuse projects employing various funding structures. Their project portfolio ranges from new construction to acquisition rehabilitation, serving populations from middle-income homebuyers to low-income seniors, and includes projects across Southern Maine communities including Portland, South Portland, Auburn, and Westbrook.

Differentiator

Problem solved

Functional benefit

Products and services

• Meetinghouse Lofts A 19-unit residential condominium project in South Portland, Maine created through adaptive reuse of the historic Roosevelt School building. Features 950-1,150 sq ft one and two-bedroom units with high ceilings, modern finishes, balconies, and an on-site fitness center. Targeted to individual condominium buyers.
• 65 Munjoy Street Condominiums An 8-unit three-story walk-up condominium building in Portland's Munjoy Hill neighborhood offering ownership housing attainable by middle-income buyers, developed in partnership with Random Orbit and the City of Portland.
• Larrabee Commons (Arthur O. Berry Apartments) A 38-unit low-income senior rental housing development in Westbrook, Maine, later renamed Arthur O. Berry Apartments, featuring one-bedroom units approximately 608 sq ft each and serving households at 50-60% AMI.
• Riverview Terrace Rehabilitation An 83-unit scattered-site senior affordable housing development in Westbrook, Maine. Originally public housing, underwent comprehensive $6.92MM rehabilitation through the HUD RAD program - the first public housing property in Maine to use this conversion pathway.
• Arts District Garage A 287-space parking garage in Portland's Arts District serving the parking demands of the adjacent 10-story office building at 511 Congress Street plus public pay-to-park access.
• 62 Spring Street Mixed-Use Development A 41-unit mixed-use development in Downtown Auburn, Maine with over 2,500 square feet of flexible retail space at street level, featuring 9 market-rate and 38 affordable rental units serving low and very low income households.
• Robert L. Harnois Apartments The Robert L. Harnois Apartments - a 61-unit affordable senior housing development in Westbrook, Maine serving low-income seniors at 50-60% AMI with project-based rental assistance.
• Emery Apartments A 30-unit energy-efficient affordable senior apartment complex in Westbrook, Maine, Phase II of the Harnois Apartments campus, with campus amenities including outdoor gathering spaces, fitness center, and nature trail.
• Millbrook Estates I A 100-unit mixed-income senior apartment acquisition and rehabilitation project in Westbrook, Maine, with comprehensive rehabilitation completed in 2024 focusing on energy efficiency, safety, and quality improvements.

Quantifiable outcome

• Developed over a dozen large-scale projects valued at over $80MM in total development costs since 2013
• +2 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

17 partnerships are on record, tiered core and minor.

• Westbrook HousingcoreStrategic or Co-development PartnerLong-standing partnership with Westbrook Housing Authority and Westbrook Development Corp. Multiple joint projects including Larrabee Commons (38 units, completed 2018), Harnois Apartments (61 units, completed 2021), Emery Apartments (30 units, completed 2021), and Millbrook Estates I (100 units, completed 2024). Partnership has developed over 200 units of senior affordable housing in Westbrook.
• Auburn Housing Development CorpcoreStrategic or Co-development PartnerPartnership for 62 Spring Street, a 41-unit mixed-use development in Downtown Auburn completed in 2019. Features affordable urban apartments with over 2,500 sq ft of ground floor retail space to catalyze downtown revitalization.
• Random OrbitcoreStrategic or Co-development PartnerJoint development of 65 Munjoy Condominium with Peter Bass of Random Orbit. Partnership was formed in 2014 to address the lack of housing options for middle-income Portlanders.
• Westbrook Development CorporationcoreStrategic or Co-development PartnerFourth joint project developed with Westbrook Development Corporation, building on an established partnership spanning multiple years and over 90 units of senior housing on the Harnois & Emery campus.
• City Oak LLCcoreStrategic or Co-development PartnerAffiliate entity through which Anew Development acquired the Shepley Street parking lot for exploratory development in Portland's Downtown Arts District. Anew is examining options to develop the half-acre, 68-space parking lot.
• Drummond WoodsumcoreImplementation/ SI/ Consulting PartnerLegal counsel for multiple projects including Riverview Terrace, Larrabee Commons, Harnois Apartments, and Emery Apartments. Provided expert legal guidance for complex development transactions.
• Archetype ArchitectscoreImplementation/ SI/ Consulting PartnerArchitecture and design services for Larrabee Commons and Harnois Apartments. Provided innovative design and engineering services for the senior housing developments.
• Bild ArchitecturecoreImplementation/ SI/ Consulting PartnerArchitectural design for 65 Munjoy Condominium, creating a three-story walk-up building that respects traditional architectural forms of Portland's Munjoy Hill.
• PDT ArchitectscoreImplementation/ SI/ Consulting PartnerArchitecture firm for Meetinghouse Lofts adaptive reuse project, working on gut rehabilitation and new addition design for the historic Roosevelt School.
• Zachau ConstructioncoreImplementation/ SI/ Consulting PartnerConstruction manager for Larrabee Commons and Meetinghouse Lofts projects. Provided excellent planning and oversight as the project's construction manager.
• Benchmark ConstructioncoreImplementation/ SI/ Consulting PartnerConstruction manager for Emery Apartments and 62 Spring Street projects. Provided construction planning and oversight services.
• Wright Ryan ConstructioncoreImplementation/ SI/ Consulting PartnerGeneral contractor for 65 Munjoy Condominium. Project was delivered well under budget and ahead of schedule.
• Ransom ConsultingcoreImplementation/ SI/ Consulting PartnerCivil and environmental engineering for Riverview Terrace and Meetinghouse Lofts. John Mahoney and Peter Sherr provided engineering services.
• Peter Burke Landscape ArchitectureminorImplementation/ SI/ Consulting PartnerLandscape design services for 65 Munjoy Condominium and Riverview Terrace rehabilitation projects.
• Platz ArchitectscoreImplementation/ SI/ Consulting PartnerDesign partner for Arts District Garage project, working with Anew Development on the 287-space parking structure.
• Allied Cook ConstructioncoreImplementation/ SI/ Consulting PartnerConstruction partner for Arts District Garage project, collaborating on design and construction of the 287-space parking structure.
• CHA ArchitecturecoreImplementation/ SI/ Consulting PartnerArchitecture firm for 62 Spring Street mixed-use project in Downtown Auburn, providing design services for the 41-unit development.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Anew Development