FOR IMMEDIATE RELEASE
Rochester Hills, MI – Vanguard Real Estate Group is pleased to announce the successful sale of Victoria Park Estates, a premier 43-lot, fully developed residential community located in the City of Richmond, Michigan. The transaction marks an important milestone for both Vanguard and the City, reinforcing the region’s growing demand for new residential construction and contributing to Richmond’s continued economic expansion.
Sourced by Chris Rayner, Vice President of Land Acquisition, and underwritten and executed by Frank A. LaLama, Co-Founder and Chief Financial Officer, the sale reflects Vanguard’s disciplined and collaborative approach to land acquisition, underwriting, and builder placement. Michael A. DiNello, Co-Founder and Chief Operating Officer, provided legal guidance, transactional oversight, and coordinated closing efforts between all parties to ensure a smooth and efficient execution.
The transaction was facilitated through Vanguard’s extensive builder network, with Cherry Creek Building selected as the purchaser and development partner. This acquisition builds upon Cherry Creek’s recent success in the City of Richmond and surrounding areas, further solidifying its presence as one of Southeast Michigan’s leading residential builders.
As a renowned builder of finely crafted single-family homes, Cherry Creek Building has been creating upscale residences for more than 30 years. The Cherry Creek team is committed to achieving complete satisfaction with each home and every client by taking tremendous pride in delivering a hands-on, personalized, and fully customizable building experience. Known for its timeless architecture, superior craftsmanship, and attention to detail, Cherry Creek has earned a trusted reputation among homeowners seeking quality and distinction.
The company’s leadership and design philosophy ensure that Victoria Park Estates will become one of Richmond’s most desirable new residential neighborhoods. More information about Cherry Creek Building can be found at cherrycreekbuilding.com.
Ideally located north of Division Road and minutes from I-94, Victoria Park Estates offers 43 estate-sized homesites averaging 90 by 150 feet, all fully improved with city water and sewer. The community’s close proximity to downtown Richmond, top-rated schools, and major employment centers makes it an attractive option for family-oriented buyers. Recent comparable new home sales in the area have ranged from the low to mid-$500,000s, demonstrating the market’s continued strength and growth potential.
The sale also represents a continuation and expansion of Richmond’s emerging new construction market, which has experienced a notable increase in residential development over the past 36 months. With multiple new projects underway, the city is rapidly establishing itself as one of northern Macomb County’s most active and promising housing corridors.
Richmond Housing Market Snapshot
Richmond, Michigan continues to demonstrate steady housing growth and strong buyer demand, positioning it as one of northern Macomb County’s most promising residential markets.
New Construction Market: Newly built single-family homes in Richmond and surrounding areas are generally priced from the mid-$400,000s, with demand driven by limited inventory and continued population growth (Realtor.com, 2025).
Comparable Sales: Recent new construction sales within the Richmond area have ranged from the low to upper $400,000s, supporting strong absorption for high-quality homesites such as those offered at Victoria Park Estates.
Regional Strength: Macomb County remains one of Southeast Michigan’s most active new-home corridors, with a diverse mix of residential developments and sustained buyer interest in well-located, suburban communities (NewHomeSource, 2025).
Economic Indicators: The median household income for the Richmond area is approximately $75,000, with a high rate of home ownership and stable demand from family-oriented buyers seeking larger lots and newer construction (U.S. Census ACS, 2024).
These market fundamentals reinforce the timing and strategic positioning of the Victoria Park Estates sale, reflecting both Vanguard’s foresight in identifying strong suburban growth markets and the City of Richmond’s ongoing evolution as a destination for quality new housing.
Strategic Market Alignment and Community Impact
The strength of Richmond’s housing market underscores why Victoria Park Estates represents such a well-positioned development opportunity. Rising home values and sustained demand for new construction indicate that the community is entering the market at an optimal time.
Vanguard’s acquisition and disposition strategy aligns directly with these local fundamentals, offering estate-sized homesites designed to meet the needs of today’s buyers who prioritize space, quality, and proximity to key amenities. The project enhances Richmond’s residential landscape, supports continued economic development, and reinforces the city’s reputation as a thriving and desirable place to live.
By pairing disciplined underwriting with strategic builder partnerships, Vanguard continues to deliver developments that not only meet market demand but also contribute lasting value to the communities they serve.
With the sale of Victoria Park Estates, Vanguard Real Estate Group continues to expand its track record of delivering well-positioned developments that meet market demand, foster community growth, and strengthen Southeast Michigan’s housing landscape.
About Vanguard Real Estate Group
Founded in 2006, Vanguard Real Estate Group is a fully integrated real estate firm specializing in brokerage, strategic land acquisition, entitlement, and development management. With a strategic focus on Southeast Michigan and a growing presence in Ohio and Florida, Vanguard has established itself as a market leader in identifying, structuring, and executing high-value real estate opportunities that drive growth for homebuilders, developers, and investors.
With nearly $1 billion in executed transactions, Vanguard’s portfolio spans a diverse range of assets, including residential land, multifamily properties, fractured condominium developments, non-performing commercial real estate debt, and single-family residential communities. The firm’s results-driven and integrated approach ensures seamless execution at every stage of the development process, providing clients with the expertise, market intelligence, and strategic guidance necessary to navigate complex transactions and maximize long-term success.
For more information, visit vanguardregroup.com
For media inquiries, please contact:
Sabrina Cusumano
Vanguard Real Estate Group
scusumano@vanguardregroup.com
248.650.6206
Sabrina Cusumano
Director of Operations
Ms. Cusumano leads key aspects of Vanguard’s operations, such as agent recruitment, Builder Division growth support, marketing, branding, and front-office management.