Back in 2019 (what feels like ages ago), Havenpark Communities made national news when they raised rents in their newly purchased Iowa communities (link here). Apparently, this news was so important that Elizabeth Warren felt the need to insert herself in the conversation (link here).

Fast forward three years and shockingly, instead of the communities disintegrating due to people being priced out, Havenpark has announced that they are EXPANDING the number of lots in their West Branch Village Community. 

Econ 101 was a long-time ago for me, but I do remember that you don’t increase supply unless the demand is there.

Cheers!

What We Are Reading

The Goods - Manufactured Housing

Havenpark Communities Expands West Branch Village Community to Add 66 New Lots for Affordable Homes in Iowa City Suburb

Havenpark Communities, an operator and developer of manufactured home communities in Iowa and around the country, is expanding its West Branch Village community to meet the growing demand for high-quality and affordable housing. The development includes 66 sites for new, modern manufactured homes that will be delivered and ready for purchase or rental starting next month.

In Puyallup, mobile home residents are being displaced. Another city is preventing it

Residents of a mobile home park on West Malad Street in Boise have been concerned for their future since ownership of the two-street park began moving to the city of Boise earlier this year. Mother calls site "amazing," says "I have to worry."

Riverdale mobile home park residents get notice they’ll have to leave

Brandon Brown, who lives at Lesley's Mobile Home Park in Riverdale, discusses the plans of the park owner to force residents out so the land can be redeveloped.

San Jose’s largest mobile home park gets new name, management

San Jose’s largest mobile home park is under new management and looks secure from development. Evans Management Services took over Silicon Valley Village Mobile Home Park, formerly Westwinds Mobile Home Park, on Sept. 1. The management company entered into a 10-year agreement with the park’s land owners, The Nicholson Family Partnership, and promises to retain the mobile park’s zoning for its more than 1,600 residents.

Los Angeles County’s oldest home in hidden inside a mobile home park

The oldest house in Los Angeles County is encircled by a ring of aging mobile homes just off the 5 Freeway in the working-class city of Bell Gardens. Concealed from view and largely blocked off to the public, Casa de Rancho San Antonio contains the story of California.

WBTV digging into what residents in Quail Meadow can do after not having water for two weeks, still no solutions

The people living in the Quail Meadow mobile home park in Rock Hill say they are feeling hopeless. WBTV got calls and emails from many of you saying the water pressure started decreasing the last week in August. Then a few days later -- shut off all together. We brought you answers as to why this was happening and what is being done about it. Now, we are trying to find out if there is any other help out there for those residents.

General Real Estate News

• Arsenic Found in Tap Water of NYC Public Housing Complex. (Link)

• More Housing is Coming – But the National Shortage Will Persist. (Link)

It’s the Economy, Stupid

• The illusion of knowledge. (Link)

Regulatory and Affordability

• Town After Town, Residents Are Fighting Affordable Housing in Connecticut. (Link)

• California voters to decide on repeal of anti-public housing measure in 2024. (Link)

• Affordable-Housing Projects Derailed as Developers Struggle for Financing. (Link)

Public Markets Corner

Sun Communities president, COO to step down to executive vice president role

Sun Communities (NYSE:SUI), a REIT that owns and operates manufactured housing communities, RV resorts, and marinas, said Wednesday that Bruce Thelen will become the company's chief operating officer as of Dec. 31, 2022, succeeding John McLaren, who will serve as an executive vice president.

Recent Acquisitions

Flagship Communities Reit to strengthen portolio with acquisitions in key markets

MUELLER & HOFFMAN MANUFACTURED HOUSING is pleased to announce the sale of Friendly Village of Arlington

A rare 1990's vintage community in the Coeur d'Alene metro

Saratoga Group has acquired another gem in Little Rock, AR. 97 spaces added to their portfolio, getting them a little closer to 6,000 sites!

John Sheedy with an assist from Andrew Dohogne arranged the sale of this 184 site two-park 55+ MH portfolio in Sebring, Florida

Deals We’re Reviewing

Weslaco Mobile Home & RV Portfolio

Weslaco, TX

• 954 Sites

• 55+ Community

• 98% Resident-owned homes

Video Gallery

Residents of 2 Lake Co. mobile home parks file lawsuit against owner | Watch Video ▶

New video emerges of possible Tornado hitting Manatee mobile home park | Watch Video ▶

Mission Hills mobile home park's power goes out amid heatwave | Watch Video ▶

More mobile home park water woes in Rock Hill | Watch Video ▶

Contaminated soil at Mobile public park being cleaned up (WPMI) - NBC 15 WPMI | Watch Video ▶

Cape Elizabeth told to build denser housing to make it more affordable | Watch Video ▶

City of Austin considers helping tenants as mobile home park shuts down | KVUE | Watch Video ▶

How Inflation, Rates and Recession Are Reshaping the Real Estate Market | Watch Video ▶

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Sponsored By —

Elevation Capital Group, and its affiliates, (“Elevation”) focuses exclusively on two niche property types: Mobile Home Communities and Self Storage Facilities. Elevation, through its affiliates, has acquired properties worth more than $600 million and has owned more than 200 properties across more than 30 states. To learn more about Elevation and their current investment offering, click here.

Contact us at [email protected] for sponsorship inquiries.