WE DEVELOP UNREALIZED POTENTIAL BY DEFINING A NEED, ADVANCING WITH PURPOSE, AND CREATING LONG-TERM VALUE THROUGH INSIGHT, EXECUTION, AND FOCUS.
Who we are
Canvasback is a real estate investment and development firm focused on identifying often-overlooked opportunities and building long-term value. We take a disciplined, hands-on approach to each project—combining strategic insight with operational strength. We strive to be thoughtful stewards, trusted partners, and catalysts for sustainable growth.
Developments
Cedar Point, a 24-home lakeside community on lake Martin in Alabama was thoughtfully developed alongside Russell Lands—one of the few times land on the lake has ever been sold to an outside developer. From land planning to infrastructure to home construction, the project was managed end-to-end with a focus on quality over volume. Working closely with engineers, builders, and buyers, Canvasback delivered an iconic neighborhood that honors the natural beauty of the shoreline while elevating the standard for lakefront living.
As the first new subdivision approved by Alexander City, Alabama in over a decade, White Oak Landing is a 44-homesite community on Lake Martin that was developed in three phases and managed end-to-end by Canvasback. Our team oversaw every aspect—from infrastructure and utility construction to architectural planning and covenant creation. White Oak Landing combines modern lake living with long-term value—delivering lasting quality and meeting a clear gap in the market.
Located in Jupiter, Florida, this Class A self-storage and industrial redevelopment project was executed by Canvasback Capital. Spanning over 3 acres, the project includes a newly constructed 115,000 sq. ft. self-storage facility and two additional 5,500 sq. ft. industrial buildings. Even in a tightly regulated market, the team secured approvals, led complex underground utility redesigns, and revitalized the existing site—including exterior upgrades and roofing for seven remaining structures. Center Park Storage reflects Canvasback’s ability to navigate complexity, enhance asset value, and meet demand in high-growth coastal markets.
Opportunities
Small Bay /
Light Industrial Criteria
Canvasback is actively pursuing small bay industrial acquisition and development opportunities across the Southeast. We target projects that can accommodate 20,000–100,000 square feet of light industrial space—whether through ground-up development on well-located land or repositioning existing multi-tenant assets.
We’re focused on unlocking value in underserved markets where demand is rising, supply is limited, and long-term fundamentals support durable investment. If you have land, existing assets, or off-market opportunities that align with these criteria, we’d welcome a conversation.
Leadership
David Nelson
CO-FOUNDER
David R. Nelson, Jr. leads real estate investment and development initiatives at Canvasback Capital. His work spans multiple asset classes, including multi-family, single-family, planned unit development, mini-storage, light industrial, and land management.
Prior to founding Canvasback, David spent nearly a decade at Crowne Partners — a privately held real estate development, construction, and property management firm specializing in Class A multifamily housing across the Southeast. At Crowne, he played a key role in sourcing and executing new developments, overseeing construction, managing assets, and working with capital partners.
David holds an MBA from the University of Michigan’s Ross School of Business and a BE, cum laude, in Mechanical Engineering from Vanderbilt University. He serves on the boards of Temple Emanu-El and the Birmingham Jewish Federation, and remains active in community and industry organizations.
Trey Echols
CO-FOUNDER
Jack W. Echols III (Trey) oversees capital strategy, partnership opportunities, and business operations at Canvasback. His career spans financial services, real estate finance, and institutional investment consulting, including experience in construction lending, mini-perm, permanent, and CMBS origination.
Prior to co-founding Canvasback, Trey served as President and CEO of Highland Associates, where he led the firm through a founder transition and its successful sale to Regions Bank in 2019. Under his leadership, Highland grew to $36 billion in assets under management. He also held leadership roles at Deloitte Corporate Finance and spent 12 years at Merrill Lynch, where he led private client banking in the Midwest.
Trey currently serves on the boards of the Birmingham Museum of Art, Jones Valley Teaching Farm, and the Advisory Board of the Salvation Army-Birmingham. He is a member of YPO and a graduate of Leadership Birmingham (2016) and Leadership Alabama (2023).
Luke Hess
ANALYST / ASSISTANT PROJECT MANAGER
Luke Hess brings energy, discipline, and a hands-on understanding of real estate development to his role as Development Associate at Canvasback. He supports the financial modeling, planning, and execution of the firm’s lakefront residential and industrial projects—helping turn vision into value.
Luke’s journey with Canvasback began while he was a student at Auburn University, where he interned with the firm and worked on the early phases of the White Oak Landing development. That early exposure cemented his interest in shaping projects from the ground up and equipped him with a foundation in both strategic planning and operational execution.
Before entering the real estate world full-time, Luke spent two summers at JH Ranch in California, serving as an Activities Lead and Volunteer Coach. There, he led teams through high-challenge environments, cultivating the leadership skills and resilience he brings to every project today.
Luke earned his degree in Finance from Auburn’s Harbert College of Business, where he was actively involved in student government, mentorship programs, and fraternity leadership.