The Ohio State Senate passed the state budget June 18, 2015 less the EPA (Environmental Protection Agency) provision that would require manufactured home communities (MHCs) to escrow 15 percent of the cost of a replacement water system, though not to exceed $250,000. It would have also allowed rental income to …
Objectionable EPA Provision may be Removed from Ohio Budget Read More
MHProNews has learned Wells Fargo Commercial Real Estate has hired two industry veterans as it expands its presence in the manufactured home communities (MHC) lending sector, following the acquisition of a $9 billion portfolio of commercial real estate loans from GE Capital Real Estate that includes MHC-focused funds. Lew Grace …
Wells Fargo Beefs Up Manufactured Home Community Lending Sector Read More
Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) rose +4.21 percent over the last week and +2.24 percent in the last four weeks, earning a consensus recommendation of “Buy” from analysts. The shares have outperformed the S&P 500 by 3.42 percent in the last week, and by 3.02 percent over the …
Manufactured Home Community Owner ELS outpaces S&P 500 Read More
The Santa Clarita (California) City Council is ready to consider revisions to the ordinance that governs rents for residents of area manufactured home communities (MHCs), according to signalscv. The revised proposal would base the rate on the consumer price index, setting the floor for annual increases at 2.6 percent and …
Rent Control Expanded to Include Fair Rate of Return and Non-Standard Increases Read More
In manufactured housing news, UMH planning MHC as other MHCs closing, programs help MH buyers, MHC sells for $98k per homesite, Texas reports MH sales. In modular news, Magnolia Homes may be revived, Brad Pitt moves mods to Indian Rez, Mods house Irish homeless, micro mods go urban. In company …
Sunday Morning Recap June 14, 2015 to June 20, 2015 Read More
A proposal by UMH Properties, Inc. originally presented ten years ago for 253 modular homes in Coxsackie, New York has re-emerged as a manufactured home community (MHC) development with 161 homes. The original plan ran into community opposition as well as a threat to an endangered bird species and a …
UMH Properties Alters Plans from Modular to a Manufactured Home Community Read More
MHProNews has learned the Ohio Manufactured Homes Association (OMHA) is opposing State Senate Bill 113 which would require owners of manufactured home communities (MHCs) to pay for cleanup of any meth lab discovered on their property, regardless of their knowledge of the crime. There is a push in the Senate …
Ohio Measure would Require Community Owners to Clean up Meth Labs Read More
The world’s largest retirement community, which is also the fastest growing city in the U. S., is expanding to include additional senior living facilities nearby. With a growth rate of 5.4 percent for the 12 months ending July, 2014, The Villages in Florida grew from 51,442 people in 2010 to …
Florida’s The Villages Expanding Continuum of Care for Seniors Read More
Updating a story MHProNews posted June 10, 2015 regarding the closing of Gerry Park for Mobile Homes in Gary, Indiana, and residents concerns of having to move, Gary Mayor Karen Freeman-Wilson says a meeting between company officials and residents has resolved some of the issues. No company representative was at …
Residents of Closing Manufactured Home Community have Concerns Addressed Read More
A group of Canadian manufactured homeowners is asking the city of Surry, British Columbia for more protection from developers who are closing manufactured home communities (MHC) to repurpose the land. The Surry Manufactured Home Owners Association (SMHOA) is protesting the proposed shuttering of Park Mobile by WestStone Group that will …
Canadian Group Protests Closing of Manufactured Home Community for Senior Facility Read More
In what Colliers International is calling the most ever paid per home site for a manufactured home community (MHC) in Oregon, Songbrook has been sold for $13.8 million to R & D Management, LLC of California. The gated community has 140 home sites on just under 32 acres in Eugene, …
High End Manufactured Home Community Sells for $13.8 M Read More
Michigan’s Gov. Rick Snyder has appointed Bryan Davis of Redford, MI to the state’s Manufactured Housing Commission, according to realestaterama. The commission establishes policies that govern all aspects of manufactured housing (MH), including year-round and seasonal communities. Davis, a business agent for the Michigan Regional Council of Carpenters, represents organized …
Michigan has New Member on Manufactured Housing Commission Read More
The rights of residents of manufactured home communities (MHCs) will be the topic at a meeting in McKinleyville, California on Sat., June 13 sponsored by two advocacy groups, the Humboldt Mobilehome Owners Coalition and the Golden State Manufactured Homeowners League. Mary Ella Anderson with the Humboldt group says site rents …
Rights of Manufactured Home Community Residents to be the Topic Read More
The Senate of the Commonwealth of Pennsylvania is considering a measure that would allow residents of manufactured home communities (MHC) the opportunity to challenge a rent increase in their community. Senator Stewart Greenleaf says many MHC residents are seniors on fixed incomes whose rent increases rise faster than the cost …
Pennsylvania Legislature Weighs Manufactured Home Community Rent Control Read More
The Gerry Park for Mobile Homes in Gary, Indiana has been sold to Arogas, Inc. by former owner Pat Quinn which owns Mr. Fuel gas stations in the area. Arogas already owns a 9.3 acre adjoining site that has been rezoned for industrial use and is expected to be home …
Indiana Manufactured Home Community closing for Redevelopment Read More
Residents at Riverbend Mobile Resort in Reedsport, Oregon are concerned because the ground under their homes is shifting, and in some cases damaging the homes in the community. Riverbend Residents Committee Chair Randy Osborn says, “Homes continue to sink. As they sink, people can’t afford to have them jacked up. …
MHProNews has learned Freehold, New Jersey-based UMH Properties, Inc. (NYSE:UMH) has agreed to acquire six manufactured home communities (MHCs) in Indiana, Ohio and Michigan for $68.6 million. The all-age communities contain a total of 2,200 developed sites, according to prnewswire. Barring any problems, the transaction is set to be finalized …
UMH Negotiating for Six more Manufactured Home Communities, Presenting at NAREIT REIT Week Read More
Following a story MHProNews last reported on Oct. 24, 2014 regarding rent reduction, drainage and road repair problems at the Easton Mobile Home Park that have been an issue for residents for the last ten years, Selectmen, serving as the Mobile Home Park Rent Control Board, have agreed to consider …
Rents may Roll Back at Manufactured Home Community in Long Need of Repairs Read More
Noting that his HAS Income Opportunity Fund 1 has delivered upwards of 15 percent return through the end of 2014, Stephen Wheeler, HAS Capital’s Chairman says, “Returns from MH (manufactured housing) related investments are outpacing investments in other real estate sub-sectors. Consistent high return opportunities are available to MH investors, …
Manufactured Housing Investments Yield High Returns Read More
In manufactured housing news, L. A. “Tony” Kovach defines path to revitalize the MH industry, while one MH supplier picks new head, another MH producer closes, HUD Code production continues rising, MHC reverting to stick-built homes, Cavco seeks tax abatement, AZ MHC closing, Sen. Donnelly and MHI’s Jennison defend H.R. …
