About Us
Adding Value to the CommunityJohn Guertin is the founder and owner of Cardinal Development LLC. John had an entrepreneurial spirit from an early age. Inspired by his dad, by the time John was fourteen he was already earning money on local building projects. When he finished school, John went into business with his father, buying and converting buildings into condominiums. They also bought and sold single family homes. By 2015, the Guertins had developed more than 100 units.
In early 2002, less than a year after 9/11, John, his wife Lori, and his parents added something new to their real estate portfolio: a small inn on Essex Street in downtown Newburyport. The Essex Street Inn was a single building, a former boarding house with fifteen rooms, and lacked many of the updates and amenities expected by the modern traveler.
With Lori Guertin at the helm as general manager, the new venture would prove a resounding success. Lori ran the property for twelve years. Today the Essex Street Inn comprises three historic buildings on Essex Street, boasting thirty-seven exceptionally appointed rooms and suites.
After operating as an independent inn for many years, the property joined the Choice Hotels family as a Ascend Collection Hotel. A three-time Choice Hotels Gold Award winner, the Essex Street Inn continues to smash revenue and occupancy records.
Just a month after purchasing the Essex Street Inn, the Guertins purchased the Yankee Landing Marina in Newburyport and retained ownership of the facility until 2017. Lori Guertin was part of the marina operation in addition to her role at the Essex Street Inn. John and his father continued to develop condominium properties until 2015.
In 2017 John purchased his parents’ share of the Essex Street Inn and from there New England Hospitality was formed. John and Lori have purchased lodging properties in New Hampshire and Maine, applying the same standards of revenue and expense management, quality, and service that make Essex Street Inn such a success. Properties in Lincoln, NH, Gorham, NH, Waterville Valley, NH, Freeport, ME, Auburn, ME, and South Portland, ME were sold again at a substantial profit.
New England Hospitality currently owns and operates properties in Newbury, NH, Orono, ME, and Ellsworth, ME in addition to Newburyport, with more projects under development.
The focus on hospitality hasn’t slowed progress in other areas.
Diversification Is A Big Part Of Cardinal Development’s Success.
The company has acquired and converted commercial properties including office buildings, industrial flex space and self-storage facilities. Residential housing is a growing segment of the portfolio, with more than seventy single and multi-family properties by mid-2024.
Under John’s leadership, Cardinal Development has grown from a portfolio of $2.5m in 2002 to more than $60m and growing.
Meet Our Team
Jason Hranek joined the Cardinal Development team in July 2024 as Director of Property Management. He began his career in property management after graduating with a bachelor’s degree in Residential Property Management from Virginia Tech. Over the next 18 years, he worked his way up from leasing consultant at an apartment community to overseeing a 1.7 million square foot commercial portfolio spanning 3 different states.
He brings with him experience gained in some of the largest companies in property management. Coupled with a strong entrepreneurial spirit, he is happy to call Cardinal Development his home. Jason oversees Cardinal Development’s self storage, commercial and residential property holdings.
In his free time, he enjoys hiking and camping in the White Mountains of New Hampshire and spending time with his wife, Liz, and dog, Buddy. He also enjoys travelling to new places and recently spent time in Iceland, Bermuda, Aruba and Italy and would someday like to visit the city of his birth, Berlin, Germany.
Renee Vacca, Chief Financial Officer of Cardinal Development brings over three decades of diverse financial and operational expertise. She began her career in 1990 as a staff accountant for a mid-sized company, quickly rising through the ranks to become Vice President of Operations. Her early experience laid a strong foundation in financial management and strategic leadership.
In her entrepreneurial journey, Renee co-owned an accounting firm, starting as a 25% partner before acquiring full ownership through a strategic buyout. Under her leadership, the firm thrived, earning a reputation for excellence in financial consulting, accounting and payroll services. As a Certified QuickBooks ProAdvisor, Renee leveraged her expertise to help businesses streamline their financial processes and achieve sustainable growth.
Renee joined Cardinal Development as CFO, where she oversees all financial operations, including planning, reporting and compliance. Her entrepreneurial background and operational insight have been instrumental in driving efficiency and innovation within the organization.
She holds an Associates of Science in Accounting from the University of New Hampshire and a Bachelor of Science in Accounting from Southern New Hampshire University. Outside of work, Renee enjoys time with her husband of 32 years along with their two adult children.
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