RHP Properties Closes New MHC Deal Near Detroit
- May 08, 2020
RHP Properties has expanded its manufactured-home-community portfolio in Michigan. The 375-home-site Woodland Estates is part of Oakland County, Mich., and represents RHP’s 18th property in the state, bringing the company’s portfolio of manufactured housing communities to 260 nationwide. RHP plans to upgrade the existing amenities and reposition the property as an affordable alternative to the higher-priced single-family homes in the area.
Woodland Estates is located at 1441 W. Romeo Road, approximately 30 miles north of Detroit and 5 miles from the town of Lake Orion. The pet-friendly community features an array of amenities including a fitness center, resident garden, playground, sauna and volleyball court. RHP plans to expand this list by adding a business center. Residents also have access to a number of attractions and activities in the nearby area, such as Addison Oaks County Park, which is located across the street, and Bald Mountain State Recreation Area.
The demand for affordable housing has been growing in the area according to RHP’s CEO Ross Partrich, as the average price of single-family homes within a three-mile radius has been exceeding $350,000. Oakland County is among the nation’s highest-income counties with populations exceeding one million. It is also home to Oakland University and hosts the offices of some of the largest employers in the state, including General Motors, Ford and Chrysler.
The acquisition brings RHP’s manufactured housing communities’ home count to more than 65,000 nationwide. The company owns and manages properties in 27 states.