Based in the Bangor area, Black Bear Development, LLC seeks to unlock value in each of our real estate transactions. We specialize in the acquisition, renovation, and re-sale or lease of formerly distressed properties. Our goals are to ensure that each project or assignment is a financial success and enhances each location or community. Black Bear Development, LLC was formed by David Spencer in May 2019.

Projects to date have included acquisition and subdivision of a 50-acre parcel in Holden; purchase, renovation and management of a 6-unit rental apartment / commercial property in Brewer; and the purchase, renovation and re-sale of foreclosed, single-family homes throughout Central Maine.

David Spencer, President and CEO

Immediately prior to forming Black Bear Development, LLC, David worked for two years at Camden National Bank in Commercial Lending. David also has construction experience with Hamel Builders, Inc. (Elkridge, Maryland) as an assistant site manager, working on renovation of a 150-unit apartment community in Takoma Park, Maryland, and new construction of seniors apartments in Germantown, Maryland. He also volunteered in July, 2012, on a Habitat for Humanity Metro Maryland home construction project in Morazán, El Salvador.

David is a 2017 cum laude graduate of the Maine Business School at the University of Maine, Orono, where he majored in Finance and Economics.

John Spencer, CPA, Vice President and CFO

John has 40 years of experience in the development, financing and management of affordable and seniors rental housing in the Washington, DC area, most recently 28 years as Senior Vice President and CFO of Victory Housing, Inc. in Rockville, Maryland. He holds an undergraduate degree in Economics from the University of Pennsylvania and a MBA from the University of Maryland. John is a licensed CPA in Maryland.