The park offers daily events for residents, including group fitness classes, BINGO, line dancing, card games and more. In addition to the community-provided events and outdoor activities, Fort Myers has great shopping, eating and drinking, festivals and citywide events. Resident-owned mobile home parks come with a bit of a bonus for residents who want to own.
But to afford the financing, the co-op increased lot rent by $80 this fall (rent ranges between $755 and $825). While the uptick may seem counterintuitive, it’s not uncommon, says Mr. Bullard. The Animas View MHP Co-op in Durango, Colorado, sits above the Durango and Silverton Narrow Gauge Railroad, Dec. 6, 2021. Animas View MHP Co-op is one of six resident-owned manufactured housing communities in Colorado.
Ridgewood Senior Mobile Home Park
He’s looking at how the cooperative model might work for the manufactured home parks out there. And he says there are challenges, starting with getting everyone in a park on the same page. The 120-unit park is on the outskirts of town along the meandering Animas River. A sign at the entrance reads the quote “We own it” with an exclamation mark. John Egan is the chairman of the park board and has lived in the park for about a decade. When the park was purchased by business owners in 2016, rents began to rise at a rate that was simply not sustainable for some members of the community.
Manaus has attempted to organize a resident purchase at two other parks only to be outbid by private equity groups. The sellers are the four children of the late Ben Krueger, a longtime Vail Valley resident who had owned and maintained the park since the early 1980s. Krueger died in November 2021 and his children wanted to find a way to preserve the community he fostered at 3-Mile, which off of Colorado 82 on the way to Aspen. The co-op will continue to search for rental assistance that might help some residents bridge that gap. Meanwhile, Kadlec noted that the immediate shock of the rent increase would ultimately lead to a more stable future. A new Colorado law gave them an opportunity to buy their mobile home park.
Resident Complaint Procedures
State regulators have taken notice and are considering new language to better clarify the intent of the law. Head over to MHVillage to browse additional mobile home parks in Florida or explore our full selection of manufactured and mobile homes for sale in Florida. With MHVillage, its easy to stay up to date with the latest Grand Junction mobile home park listings. When browsing communities, you can find mobile home lots, view homes, read about park amenities, and more.
The HOA’s letter also detailed residents’ complaints about an anticipated 37% rent increase in less than three years, dating back to before Strive purchased the property. The usual 2-3% increases had suddenly jumped to double digits, potentially imperiling longtime older residents whose fixed incomes could absorb the lower rent bumps. Communities of mobile homes, also known as “manufactured homes,” are unique beasts in that residents normally own the physical homes they live in, but they don’t actually own the land on which their homes sit. Joyce Tanner is pictured in her home at the Golden Hills mobile home park in Golden on Sept. 28, 2021.
Yes Communities
We invite you find out firsthand how that difference makes living here so much better. At Park Plaza Cooperative in Fridley, Minnesota, the community raised funds to install a playground for the community children. This safe place to play also serves as a gathering spot for dozens of families, bringing even more value to this cooperative community.
ROC Capital financing can help with this need.MHCs also provide a detached housing option for low-to-moderate-income households, which are underserved by the homeownership market. In Thistle’s Mapleton Mobile Home Park, lots are permanently affordable to households earning 30% AMI and 83% of lots are affordable to households earning up to 50% AMI. ROC USA is comprised of two subsidiaries, ROC USA Network and ROC USA® Capital, a community development financial institution that makes loans for community purchase, rehabilitation, refinancing, and pre-purchase due diligence. The formation of a resident cooperative is the first step, as the resident cooperative purchases the property directly from owners, followed by completing the site due diligence and obtaining ROC financing.
Into his 80s, Ben Krueger would still visit the park and its residents every Tuesday to check up on maintenance, the water system, plowing and weeding along with neighborhood news, they said. Manaus is also partnering with the Aspen Valley Land Trust to sell a conservation easement on an undeveloped 7-acre portion of the park. The steep-sloped parcel, which has some informal trails used by the neighborhood, is expected to net about $400,000 and will allow Manaus to lower the amount residents will pay for the remaining 4 acres. Manaus is also planning to use grants and donations to bring down the price for residents as low as possible from the $2.4 million contract price.
A social justice nonprofit this week went under contract to buy the 20-unit 3-Mile Mobile Home Park southwest of Glenwood Springs for $2.4 million, promising to transfer ownership to its residents within three to five years. It’s possible to purchase under the 90-day timeline, “but it’s definitely not easy to do,” said Andy Kadlec, program director for Thistle. Francis, the Fort Collins councilmember who worked with Hickory Village, said the owner feared triggering a penalty after coming to an agreement with the corporate buyer, and that the residents’ offer wouldn’t make up for that lost cash. The “opportunity to purchase” provision came as part of sweeping changes to Colorado’s Mobile Home Park Act — which hadn’t been updated in more than three decades. The residents put in an offer that they know matched or exceeded the terms in the owner’s notice, she said, since sellers are supposed to disclose all material terms for what they consider an acceptable offer. A new law was supposed to help Colorado mobile home owners buy their parks.
Once the resident co-op made an offer, which Strive quickly accepted, the process moved into its due diligence phase, a more thorough evaluation of the property and a sharper estimate of operating costs. Shifting the residents from an HOA to a co-op required a lot of planning and decisions on rules, policies and procedures, plus a new property management company to collect rent and handle maintenance. Once the opportunity-to-purchase provision of the new state law gave notice that Strive was ready to sell , much of the organizing of residents had been done.
Additionally, there is a swimming pool and hot tub, a covered picnic area, shuffleboard and more. Get out for a night of eating and drinking in the nearby towns, spend a day enjoying the outdoors or just enjoy some of your neighbors’ company. Below is a partial list of Mobile Home Parks in Arizona, California, Colorado, Illinois and New Mexico currently or previously managed by Sierra Corporate Management , and owned by a Kort & Scott Financial Group company.
However, according to a complaint filed with the state, the seller ignored the co-op’s offer. In response, the park owner initiated a new 90-day period for the co-op to submit an offer in late June. ROC USA launched in 2008—born out of a previously successful model operating in New Hampshire since 1984—offering limited-equity loans to co-ops purchasing manufactured housing communities. Nowadays, about a third of all mobile home parks in New Hampshire are organized resident-owned communities, Bullard says, and ROC operates in 20 states, supporting 278 communities, representing 19,000 homes.
Here he is standing with Secretary Karen Pontius , COO Dan Hunt and Lucy . In addition, he said, the pandemic has caused most public discretionary funding for housing to be channeled toward traditional rental assistance, which could make the park’s plan to seek additional financial help difficult. And that inevitable increase could be too much for some residents to absorb. Two of Jimenez’s grown daughters now live in their own homes in the park. Jimenez, who raised five children in his three-bedroom 3-Mile home and has lived there for 35 years, grew close to Ben Krueger and in his spare time worked closely with Krueger on park improvements and maintenance. The Krueger children — Bern, John, Karl and Celynn — know they could have made more money from the 3-Mile sale.
But they agreed that their father would have wanted them to find a path to preserve the community he had fostered for nearly 40 years. Now, the residents of Sans Souci who pursued the purchase have placed a sign on a fence visible to all who enter. Strive also released its rent rolls so the buyer could gauge how many were current on payments and how many were in arrears to home in on the park’s debt load. Residents bought the park in June with the help of Thistle for $3.3 million after three years of organizing efforts. All other marks contained herein are the property of their respective owners. That’s because you have the option between the Atlantic Ocean, the Gulf of Mexico and the surrounding lakes and state parks.
“Just about every park right now that can take advantage of the opportunity-to-purchase law is facing this dilemma that they can stabilize their prices, but they can’t stabilize them at a place where we’re preventing major displacement. And so there’s gotta be a way for other funds to be made available,” he says. Susan Gibson has lived in her home in Table Mesa Village, just south of Boulder off Highway 93 in unincorporated Boulder County, for 25 years.
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