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Harbor Development

Harbor Development, an affiliate of Harbor Management, buys, develops and manages apartment communities and retail shopping centers in eastern Massachusetts, New Hampshire, and in Maine within markets along the Maine Turnpike corridor. We also specialize in rehab projects and conversions to residential housing using tax credits.

Recommendations and strategies for these assets include financing solutions, recommendations for additional asset-value creation, exit strategies, and establishing investment partnerships. In addition to preserving and increasing the quality and value within our existing portfolio, Harbor Development consistently identifies and pursues new real estate investment opportunities.

Harbor Development also provides in-house professional services to our affiliated management company, and its diverse portfolio of residential apartment communities, shopping centers and other commercial properties. The long term history of the company and strong portfolio of residential communities and commercial properties is a testament to the experience and integrity of ownership and its employees.

Investment & Development Criteria

Harbor Development actively pursues real estate development and ownership opportunities which will enhance its existing portfolio. Here is an outline of our investment and development criteria.

Residential

Specializing in apartment buildings, older buildings needing $10K per unit rehab, conversions of underutilized commercial properties to residential use (candidates for tax-credits deals).

  • Market, subsidized, or tax-credit apartment communities
  • Deal Size-preferably 100 units but will consider smaller
  • Buildings suited for conversion to residential, i.e. older mill buildings
  • Land for new single-family or condominium developments
  • Existing apartment communities within our market area

Retail

Specializing in any-size existing shopping centers or new retail development sites with opportunities for value creation.

  • Land for development with excellent location
  • Single or multi-tenant properties (i.e. bank buildings, ground leases, etc.)
  • Deal Size- $500k- $20,000,000.00
  • Neighborhood retail properties with good location and tenant history
  • Shopping centers with upside potential, ie vacancy, below market rents, ground leases with near term expirations

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