Development

David oversees all multifamily development for DevCo Residential Group and supports the CEO in day‑to‑day operations. Appointed successor CEO by his business partner and mentor, Jack Hunden, David is dedicated to empowering his team to make a meaningful impact on tenants’ lives through high‑quality housing. As President of DevCo, LLC and DevCo Preservation, LLC, he helps turn this commitment into reality. Since joining DevCo in 2013, he has overseen development of more than 10,000 units.

David graduated from Washington State University with a Bachelor of Science in Finance and Real Estate and from Arizona State University with a Masters in Real Estate Development. He has also been a licensed real estate broker in the State of Washington.

David enjoys an active lifestyle and is frequently out adventuring. You can find him on the ski hill, backpacking in the mountains or out on the water. He frequently asks anyone he can about travel recommendations and is always planning his next adventure.

As President of Finance & Investments, Michael Volz leads DevCo Residential Group’s capital markets, investment strategy, and financial operations. He oversees underwriting, deal structuring, and corporate financial planning while providing executive leadership to the CFO function and Asset Management.

Michael holds a Bachelor of Music from the University of Puget Sound and a Master of Science in Finance from Pacific Lutheran University.

Outside the office, Michael is an avid musician and enjoys spending time with his wife, their son, and their dogs.

Shawna joined Devco at the end of 2022 as Executive Assistant to President of Development David Ratliff. Her main responsibilities include providing support to David, working on projects for the development team and other operational items.

Before joining Devco, Shawna spent 7 years working in Seattle’s residential real estate industry. She was Executive Assistant to a top-producing broker in the Greater Seattle area.  Shawna has also been a licensed real estate broker in the State of Washington.

Shawna graduated from Western Washington University with a Bachelor of Arts in Business Management. In her free time, Shawna enjoys golf, skiing, pickleball, planning her next trip, and spending time with family and friends.

Chase has been with DevCo Residential Group for 5 years and currently oversees the Intermountain Region as a Development Manager. In those 5 years, Chase has sourced, entitled, and financed over 15 LIHTC transactions across five different states. Chases’ efforts during his time with DevCo have created or preserved nearly 2,000 affordable housing units in communities across his region.

Prior to working for DevCo. Chase spent five years at Security Properties where he primarily focused on acquisition, asset management and development of market rate housing across the country.

Chase graduated from Washington State University with an MBA in Data Analytics and an Undergraduate Degree in Accounting.

Outside of work, Chase enjoys playing golf, skiing, fishing, and spending time with his Wife, Kendra, and two children, Emilia and Easton. He has recently relocated from Seattle to Phoenix and looks forward to more days in the sunshine.

Trevor Martinez oversees the Midwest Region for Devco Residential Group’s development team. He is responsible for sourcing, underwriting, and executing on development transactions including overseeing regulatory applications, raising debt, equity, and subsidy capital, managing internal and external design teams, and leading entitlement efforts.

Trevor has a decade of experience in the real estate development industry and has closed over $900 million in new financing. He has developed 3,000 housing units and 160,000sf of commercial space across eight states. He has experience in ground up, acquisition-rehabilitation, and historic tax credit transactions in both the LIHTC and Market Rate spaces.

Trevor holds a bachelor’s degree in Urban Studies and Entrepreneurial Management from the University of Minnesota and is on the Board of Directors for NAIOP Minnesota. He has also been active in Minnesota Housing Partnership, Twin Cities Housing Alliance, and the Urban Land Institute.

In his free time, Trevor judges high school debate tournaments, and teaches various real-estate oriented classes at the University of Minnesota.

Nick Storlie joined DevCo in January 2022 where he serves as a Senior Development Associate focusing on the Midwest. Storlie is responsible for underwriting new multifamily development and acquisition opportunities, securing financing for new acquisitions and developments, and aiding with projects throughout construction.

Storlie holds a Bachelor of Science in Finance from St. Cloud State University. He was a member of the Husky Growth Fund at SCSU.

Prior to joining DevCo Storlie was a Development Analyst for Dominium where he oversaw 3,000 new construction Section 42 units towards completion in Florida, Georgia and Minnesota.

Outside of work, Storlie likes to try new cooking recipes, hiking, attending concerts and spending time with friends and family.

Nick LaCoul joined DevCo in July 2022. He currently serves as a Senior Development Associate covering the Southwest Region. Nick’s responsibilities include analyzing and pursuing new multifamily development and acquisition opportunities, securing financing, and managing projects to construction-completion.

Prior to joining DevCo, Nick spent 5 years working at KeyBank (NYSE: KEY) where he worked on over $700MM in affordable housing permanent debt transactions, and over $185MM in commercial real estate balance-sheet debt opportunities.

Nick received a B.S. in Finance cum laude from The University of Texas at Dallas and an MBA in Strategy with honors from Southern Methodist University. In his free time, Nick enjoys playing golf and spending time with his family.

David brings over three years of specialized Section 42 underwriting experience. Before joining DevCo, he worked with National CORE, a nationally recognized non-profit community builder focused on affordable, multifamily, mixed-income, senior, workforce, and special-needs housing. During his tenure, David valued more than $2.5 billion in Section 42 assets, sourced acquisition opportunities, conducted market research across multiple regions, and led a variety of strategic ad-hoc initiatives.

As a Development Analyst at DevCo, David is responsible for underwriting new construction and acquisition/rehabilitation developments, managing the tax credit application process, conducting in-depth market analyses, and overseeing the 8609 and cost certification process. He also supports the Southwest Development Project Manager and Senior Development Associate on transaction closings, pipeline management, and activities related to the acquisition, development, and redevelopment of multifamily projects.

David holds a Bachelor of Arts in Business Administration from California State University, Fullerton, with dual concentrations in Finance and Accounting. Outside of work, he enjoys snowboarding, traveling, weightlifting, sauna and cold-plunge sessions, and spending quality time with friends and family.

Lindsay Kruse joined DevCo in October 2022 and serves as a Transaction Manager for the Intermountain region and Midwest, where she manages all stages of the LIHTC transaction process. She brings analytical strength, legal insight, and a client-focused approach to each deal, overseeing complex due diligence and multifamily financial closings while supporting Development Managers. Known for her clear communication and attention to detail, Lindsay builds strong, trusted relationships with consultants, investors, lenders, and legal teams.

With over nine years of experience in legal and real estate work, including civil litigation, and expertise in multifamily housing and LIHTC transactions, Lindsay offers a well-rounded understanding of complex deal structures and stakeholder needs.

Outside of work, Lindsay enjoys spending time with her husband, Kyle, and their children, Natalie and Nicolas, traveling, cycling, hiking, exploring the outdoors, reading, and experimenting with new recipes.

Lauren Baker is a Transaction Manager with DevCo Development based in Bellevue, Washington. She plays a key role in supporting the structuring and execution of development transactions, working closely with internal teams and financial partners to guide projects through key milestones toward closing.

Lauren brings more than a decade of leadership experience in compliance and operational support. She is known for her strong analytical approach, organization, and ability to coordinate across multiple stakeholders to help ensure transactions progress efficiently and successfully. Lauren is passionate about continuing to deepen her knowledge of multifamily housing while contributing to impactful projects within the communities DevCo serves.

Outside of work, Lauren enjoys spending time with her partner, Alton, their daughter Lilliana, and her bonus sons. She also enjoys traveling, attending concerts, and discovering new and interesting places with friends and family.

Maelonni Thompson joined DevCo in 2021 as the Transaction Manager for the development team and transitioned to the role of Corporate Transaction Manager in 2024. She has over a decade of experience in the commercial real estate industry. In her current position, she supports strategic corporate initiatives, manages organizational transitions, and drives process improvements designed to enhance collaboration, efficiency, and alignment with DevCo’s long term strategic goals.

Prior to joining DevCo, Maelonni worked on the Commercial Term Lending team at JPMorgan Chase and on the Capital Markets team at Marcus & Millichap. Having experience on the lender, owner, and development side has given her a well rounded perspective and strategic approach to her current position at DevCo.

Maelonni is based in the Greater Seattle area. She holds a bachelor’s degree from the University of Washington and is actively involved in volunteer work with her children’s school and local nonprofit organizations. In her free time, she enjoys traveling, baking and running. She and her husband are proud parents of two daughters and an Australian Shepherd.