CAPE CHARLES, VA — Bay Creek Development Group, led by Michael Schoenfeld and Samuel Silverman, has acquired the iconic Bay Creek Resort and Club from Preserve Communities. The transaction closed on July 2, 2025.
Nestled between the Chesapeake Bay and the Atlantic Ocean, Bay Creek is a one-of-a-kind coastal community located on Virginia’s Eastern Shore. With a storied history and breathtaking natural beauty, Bay Creek is poised for an exciting new chapter under its new leadership.
“We are honored to take the helm at Bay Creek,” said Michael Schoenfeld. “This community is a true gem, and we are committed to realizing its full potential as a vibrant, inclusive, and timeless destination.”
Schoenfeld and Silverman bring a strong track record of involvement in the development and financing of celebrated lifestyle and golf-based resort communities across the country—from 55+ communities in the Southeast, outside Charlotte and Atlanta, to premier golf-based resort neighborhoods like Snake River Sporting Club, Tamarack Resort, and Wohali.
“Bay Creek is deeply personal to both of us,” said Samuel Silverman. “Mike grew up in North Carolina and spent summers exploring coastal towns along the Outer Banks and Carolinas. For him, Bay Creek feels like coming home. I bring a background in golf course development, including work with Jack Nicklaus over a decade ago. Together, we’re bringing passion and experience to ensure Bay Creek thrives for generations to come.”
The new ownership group has already begun outlining key improvements and future developments:
• New Amenities: Construction of the long-awaited Beach Club, expansion of racket sports, and enhancements to the Life Center are already underway. Bay Creek will continue its partnership with Troon Privé to deliver exceptional experiences for members and residents.
• Residential Growth: Bay Creek will collaborate with local builders to deliver thoughtfully designed, move-in-ready homes that meet the needs of families and second-home buyers alike.
• Sustainability & Design: The team will incorporate best practices from other high-end resort communities, with a focus on quality, sustainability, and timeless design.
• Community Engagement: The group is committed to transparency and collaboration, pledging regular updates and ongoing dialogue with residents, stakeholders, and the Cape Charles community.
Bay Creek’s roots trace back to the vision of Dickie Foster, who sought to spark the revitalization of Cape Charles. While previous ownership groups faced challenges, Schoenfeld and Silverman are bringing significant capital, a bold vision, and a renewed sense of purpose to carry that original dream forward.
“Bay Creek is more than a development-it’s a legacy in the making,” said Schoenfeld. “We’re here to honor its history, invest in its future, and build something that truly reflects the spirit of the Eastern Shore.”
About the Author
Bay Creek’s roots trace back to the vision of Dickie Foster, who sought to spark the revitalization of Cape Charles. Substitute revitalization with the word ruination and we get a more accurate picture of the results
Dickie Foster? What man would want another man to call him ‘Dickie’?
Sounds like that question has been running through your thoughts quite often. How cute!
Weak. Is that all you could muster? Bless your heart.
Bless your heart. You sound like a 75 year old woman. Quit embarrassing yourself. Are you a come here?
Ricky, is that the best you could muster? Embarrassed? To be embarrassed, one must first care what others think. I don’t. As far as where I come from, well that is really none of your business, now is it Ricky?
I remember when the shore was full of real men. Sad.
Again, is that all you can muster? Real men? You might want to ask around and find out just who you are talking to. I would suggest you run along and find something else to do with your time.
You sure like to dish it out and call everyone names, but you’re offended?
Please explain yourself. And not some slip is showing or muster or liberal or Kamal-toe response. You’ve been on this board for a long time with a negative attitude towards people. What exactly are you trying to prove? Can you give an actual legitimate response to these questions?
Simple. You people are the greatest form of entertainment on the entire world wide web.
You got any more actual. legitimate questions?
I asked. No one knew who I was talking about.
Sounds like a personal problem.
The executive leadership mentioned.
EB5AN helps foreign investors obtain U.S. permanent residency, or green cards, through qualifying investments within the guidelines of the EB-5 Immigrant Investor Program, a U.S. government effort that encourages new investment in job-creating projects.
Sounds like “local ties” to me. At least Dickie Foster was from VB.