M.D.C. Holdings, Inc., Denver (NYSE: MDC) said late Thursday that a new subsidiary, Richmond American Homes of Oregon, Inc. will commence operations in the greater Portland area.
“We first entered the Pacific Northwest through the acquisition of a Seattle home builder in 2011. The Portland Metropolitan area was a logical next step, especially given the economic strength we have observed in the local market,” said MDC’s President and COO, David Mandarich. “We are excited to introduce home buyers in the area to our unique floor plans and personalized approach to home building.”
Jim Riela, currently serving as vice president of construction for Richmond American Homes of Colorado, has been promoted to serve as president of Richmond American Homes of Oregon. Riela has more than 20 years of residential construction experience, including more than 10 years in new home construction. He holds a Bachelor of Arts degree in Economics from Hamilton College, a Master of Science degree in Architecture with a concentration in Real Estate Development from Columbia University and a Master of Science degree in Construction Management from the University of Washington.
