01
Affordable Housing
Income-restricted rental housing supported by public-private financing, serving households at 50–80% of area median income.
Develecor LLC · Real estate development · Twin Cities
We build what neighborhoods need.
Affordable, mixed-use, and workforce housing — underwritten conservatively, built hands-on, and owned for the long term.
44.9778° N · 93.2650° W
Est. 2018 · Minneapolis
01
Conviction
Housing is infrastructure. Develecor develops essential housing across the Twin Cities — projects that fit their neighborhoods, pencil in the real world, and are built to be owned for decades, not flipped between cycles.
Evaluating
New infill sites and small-to-mid-scale opportunities across the Twin Cities metro.
Building
Working relationships with lenders, public agencies, nonprofits, and landowners.
Operating
4111 Colfax — furnished rental housing, run and maintained by its developer.
02
Development Focus
Essential housing,
four ways.
02
Mixed-Use Infill
Rental housing over neighborhood-serving commercial space, on urban corners that deserve more than a parking lot.
03
Workforce Housing
Quality rentals for the people who keep a city running — nurses, teachers, students, and the trades.
04
Urban Projects
Small-to-mid-scale buildings that respect the block, raise its standard, and add the homes it was missing.
03
Completed Work
4111 Colfax
Minneapolis, Minnesota
A new-construction triplex in Minneapolis, completed in 2025 and operated as furnished rental housing for working professionals, students, and workforce renters. From first underwrite to first lease — one team, end to end.
- Year
- 2025
- Status
- Completed
- Type
- New construction
- Configuration
- 3 furnished units
From the drawing
to the front door.
The building as it stands — photographed as delivered and furnished, floor by floor. No renders, no staging studio.
L3
Third Level
Unit 3
L2
Main Level
Unit 2
L1
Lower Level
Unit 1
04
Process
From dirt
to doors.
Site Control
Sourcing and tying up parcels where housing is needed — and where the numbers pencil before a dollar of capital moves.
Entitlements
Zoning, approvals, and neighborhood alignment — managed early, honestly, and without drama.
Capital Stack
Public and private financing layered conservatively, underwritten to reality rather than to the pitch deck.
Construction
Hands-on delivery. Hard costs controlled, schedule kept honest, quality inspected in person.
Lease-Up & Operations
Buildings filled, run, and maintained for the long term — because we still own them tomorrow.
05
Operating Philosophy
Disciplined Underwriting
Conservative assumptions, realistic projections, and a clear understanding of risk before committing capital — or reputation.
Practical Execution
Hands-on project management from site control through construction closeout. No abstraction — real work, real results.
Durable Housing
Buildings designed for long-term ownership and decades of reliable operation. Quality construction, sustained commitment.
06
Principal
Built by
an operator.
Shahir Saleem founded Develecor in 2018 and leads every stage himself — underwriting, capital coordination, construction oversight, lease-up, and operations. No layers between the person who signs and the person who shows up on site.
Shahir SaleemPrincipal & Developer
We work with
LendersBanksPublic AgenciesNonprofit PartnersFundersLandownersConsultantsDevelopment Partners
07
Contact
Let's build something durable.
New sites, new partnerships, new capital relationships across the Twin Cities metro — wherever you sit in a deal, the conversation starts directly with the principal.
Landowners
A site that should be housing? Let's walk it together.
Start the conversation → Lenders & Capital PartnersConservative numbers, clean reporting, no surprises.
Start the conversation → Public Agencies & NonprofitsA developer who delivers what was approved.
Start the conversation → Development PartnersCo-develop with an operator who shows up on site.
Start the conversation →