Denver City Council shows the conundrum of mobile home parks; Coachella has more than just a music festival; residents at a NY MHP won’t stop complaining; and MHP resident relocations continue.

Enjoy!

What We Are Reading

The Goods - Manufactured Housing

Denver deciding on mobile home parks moratorium

Denver City Council weighing the decision to put a moratorium on mobile home park development citywide. This is modeled after Aurora’s 10-month moratorium that was enacted back in 2018.

When There’s Arsenic in the Water, but ‘We Have Nowhere to Go’

The Environmental Protection Agency found that water at a mobile home park that mostly serves agricultural workers contained almost 10 times the allowable limit of arsenic. But housing alternatives are hard to find.

Conditions at Ridgeview park likened to 'elder abuse'

As the fight at Ridgeview Manufactured Homes Park continues, more officials have started to weigh in on the actions of the home association, including a rent strike that was halted in April and reinstated after claims that raw sewage ended up on some homeowners’ lawns.

Forced relocations begin at Congress Mobile Home Park in South Austin

In December, a multibillion-dollar California-based real estate company purchased the land the park is on. Residents had 60 days to pack their bags.

Vermont is pouring millions into manufactured homes and mobile home parks

Nicole Daniels had been living with her father in Berlin and taking care of him when he died. He had lived in a manufactured home park since 1986, but his residence was old and needed a lot of work. It would cost so much to fix, Daniels said, that it made more sense to replace it with a new one.

Douglas County mobile home park residents face eviction

An eviction is looming for some residents of a Douglas County mobile home park. County officials informed residents at the Country Acres mobile home park earlier this summer they would need to move by the beginning of August.

Parklane Mobile Home Park residents become first in Fort Collins area to buy park

Residents of Parklane Mobile Home Park finally own their properties. Residents of the park, located just outside city limits in northeast Fort Collins, formed a nonprofit — United Neighbors/Vecinos Unidos — to help them buy the park shortly after their landlord told them it would go up for sale in December, according to a news release from the nonprofit.

Power still off at Spencer, IA mobile home park after no ruling made in court hearing

A hearing took place in northwest Iowa to determine if a mobile home park wrongfully had its power shut off and whether electricity there should be restored.

Factory-Built Homes Could Help Solve Housing Crisis

Joyce Bayles, 85, mows the lawn around her home in the Ridgeview Homes community in Lockport, N.Y., this summer. Manufactured homes are seen as essential to solving the nation’s housing crisis, especially for families with low incomes.

Axne, Hickenlooper Lead Letter to Protect Manufactured Housing Community Residents

Letter to the Federal Housing Finance Agency Calls for Stronger Protections In Federally Backed Purchases.

Left without water for days, mobile home residents sue park's owner

On June 30, mobile home park owners gathered at the capitol in Denver to stand against Gov. Jared Polis’ decision to remove rent stabilization from recent legislation designed to create more protections for mobile home park owners. Although unable to attend, local mobile home park advocate Annie Beall along with some Country Meadows residents stood in support of the action labeled “Lot Rent is Too High.”

General Real Estate News

• Canceled Contracts Pile Up As Real Estate Buyers, Lenders Reckon With Rising Rates. (Link)

• Record rent increases, low wages are driving an eviction crisis, U.S. Senate panel told. (Link)

• Commercial Real Estate Investing In A Changing Market: An Expert Adviser Weighs In. (Link)

• Which City Is Most Expensive for Renters? You Might Be Surprised. (Link)

• In towns plagued by raw sewage, EPA promises relief. (Link)

Regulatory and Affordability

• More Americans Struggling to Find Affordable Housing. (Link)

• Affordable housing out of reach for many in Alabama, report finds. (Link)

• Millions of dollars in rental assistance drying up — and could bring evictions in Michigan. (Link)

• California cities have millions for affordable housing. The difficulty is spending it. (Link)

• Low-income housing in Virginia gets boost with funding from state, federal resources. (Link)

• Two hotels converted into affordable apartment complex in Clearwater. (Link)

• How state governments are reimagining American public housing. (Link)

• Grim picture of worsening US housing crisis presented in Senate hearing. (Link)

Public Markets Corner

UMH Properties (UMH) Q2 FFO and Revenues Miss Estimates

UMH Properties Inc. (UMH) CEO Samuel Landy on Q2 2022 Results - Earnings Call Transcript

Legacy Housing Corp management's discussion and analysis of financial condition and results of operations. (form 10-K)

Recent Acquisitions

Mueller & Hoffman Manufactured Housing is pleased to announce the sale of the 418-site Iowa City Portfolio

Blue Elm is excited to announce the sale of our two mobile home park portfolio in Milledgeville, GA

Cobblestone Properties Pays $25M for Southwest Arizona MHC

SOLD! 2 Park Portfolio with 45 lots located in Foley, MN is now closed

Dallas company buys 3rd mobile home park in Loveland

Residents buy their mobile home park for $12 million, beat out company bid

Capstone Facilitates Sale of 2 Houston-Area MHCs

Recent Financings

Arranged a $2,875,000 loan to refi and fund improvements for 2MHPs for a 501c3 Non-profit organization in OK

The Madison Group (TMG), a leading national lending source of MHP/MHC financing, arranged the $2,875,000 refinance for two mobile home parks consisting of 121 units and 55 units. The final terms were a 15-year fixed term with a 30-year amortization and an interest rate of 6.875%.

Deals We’re Reviewing

Property Size: 140 Acres | 420 Sites

Price: $2,800,000 | Sites: 54 | Land: 4.28 Acres

Video Gallery

Supervisor Perez expected to declare a state of emergency over Oasis mobile home park water... | Watch Video ▶

'There's a transition going on’ in commercial real estate: Marcus and Millichap CEO | Watch Video ▶

Mobile home park submerged by Kentucky flood waters | Watch Video ▶

Podcast Picks

• Interview with Alex Ramirez of Lucky Communities. Listen Now →

• Finding Debt Partners: Interview with Truist's Steven Gunzenhauser. Listen Now →

• The Economic Evolution of Housing And Why It’s Ok. Listen Now →

• Ep. 149 | Interview with Paul Bradley. Listen Now →

Social Section

Sponsored By —

This could be you!

Contact us at [email protected]