In 1983, Mel Shultz along with David Eaton and Jerry Colangelo, formed JDM Properties, Inc., a full-service real estate firm engaged in the development and management of quality real estate properties in Arizona and Colorado. The Group has owned and developed major business and industrial parks in Arizona and Colorado and is a partner in developing the 36,800 acre Douglas Ranch/Trillium Community, which is the largest master planned community in the greater Phoenix area.

Shultz is also a managing partner of the 5,000 seat Arizona Federal Theatre and was a general partner in the Phoenix Suns basketball team until its sale in 2004. Additionally, Shultz was one of the original general partners of the 2001 World Championship Arizona Diamondbacks baseball team.