I can’t seem to find a theme this week. I have noticed more developments being proposed and a slight uptick in the number of approvals. Good news for the industry?

Enjoy!

What We Are Reading

The Goods - Manufactured Housing

Unaffordable Housing: Mobile home residents fear losing their homes, pleading 'I can't start all over again' — Louisville, KY

When Mike Runnells moved to Bullitt County in 2020, it was his refuge from a divided city. The Army veteran had been living in Louisville’s west end, where the highly controversial police shooting death of Breonna Taylor had led to ongoing, nightly protests that sometimes brought crowds of police and protesters past his Portland home.

Not all Santa Rosa mobile home residents are benefiting from new rent control law — Santa Rosa, CA

Dec. 6 was a big day for Santa Rosa mobile homeowners who’d spent months or even years advocating for tighter limits on rent increases in their parks.

Eagle Valley’s Krueger family sells trailer park in model for blocking private-equity groups — Glenwood Springs, CO

A Carbondale-based social justice nonprofit group in December went under contract to buy a 20-unit mobile-home park outside of Glenwood Springs for $2.4 million in an attempt to buck the trend of displacement and affordable-housing destruction at the hands of private-equity groups buying Colorado parks.

Commissioners vote to allow mobile home expansion near 100-year-old farm — Lumberton, NC

The Robeson County Commissioners gave T D Pate Investments owner the go-ahead Tuesday to more than double the capacity of his mobile home park on a tract of land that neighbors one of North Carolina's few Black-owned Century Farms.

Tesla And Octa Homes Are Developing In Robstown, Texas — Robstown, TX

In November, Robstown has become one of the promising high growth locations in Texas. Tesla and Octa Homes are two of the latest companies to look at Robstown as an investment destination.

Tiny home development coming to North Broad Street in Meriden — Meriden, CT

Demolition is complete at the former Smitty’s Snack Bar and 12 trailers to make way for 12 tiny homes in the former trailer park.

Davie travel park slated for redevelopment as industrial — Davie, FL

The Twin Lakes Travel Park, which hosted hundreds of mobile homes in Davie, could be redeveloped into warehouses and truck parking.

Town orders owner to clean up mobile home park in Glocester, address water problems — Glocester, RI

The owners of a motor home park in Chepachet have been ordered to address disruptions to the water supply to homes at the site, as well as other ongoing maintenance issues including dangerous problems with electric supply to the property.

Riverdale mobile home park tenants offered money to help with move — Riverdale, UT

The owner of the Riverdale mobile home park that’s being vacated to make way for development is offering residents $1,500 to $3,000 if they depart early.

General Real Estate News

• Investors Seek to Pull $20 Billion From Core Real Estate Funds. (Link)

• Rising Interest Rates Hit Landlords Who Can’t Afford Hedging Costs. (Link)

It’s the Economy, Stupid

• Summers Warns of 1970s Crisis If Central Banks Relent on Rates. (Link)

Regulatory and Affordability

• Mayors: Affordable housing demand is crushing us. (Link)

• Freddie Mac Multifamily’s Targeted Affordable Housing Loans Increased by Nearly 60% in 2022. (Link)

Public Markets Corner

Recent Acquisitions

UMH Properties, Inc. announces acquisition of a Georgia community through its qualified opportunity zone fund

We were able to sneak in one final #mobilehomepark closing before the close of 2022! A portfolio of 3 communities in the Atlanta GA MSA

Video Gallery

Acampo residents want answers as to why county pump didn't divert water from town

Mobile home park experiences flooding and evacuations

Griffin trailer park heavily damaged by tornadoes

Social Section

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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.