Communities

Report Cites Uptick in Demand for MHCs by Investors and Baby Boomers

By / September 24, 2014 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, Trends

Marcus & Millichap’s Manufactured Housing Research Report says rising home prices, improving job outlook and an expanding baby boomer population are adding to increased occupancy in manufactured home communities (MHCs), a trend the real estate investment services company reports will continue. Concurrently, investors looking for large, top quality communities with …

Report Cites Uptick in Demand for MHCs by Investors and Baby Boomers Read More

Sun Communities closes on Public Offering

By / September 24, 2014 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, RV

Following a story MHProNews posted Sept. 17 regarding Sun Communities, Inc.’s (SUI) announcement of a public offering to raise shares to help fund its recent $1.32 billion acquisition of 59 manufactured housing communities (MHCs) from Green Courte Partners, LLC, the offering is now closed. The 6,900,000 shares of commons stock, …

Sun Communities closes on Public Offering Read More

Zacks Forecasts Profitable year for Equity LifeStyle Properties

By / September 23, 2014 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, RV, Stocks

Equity LifeStyle Properties, Inc. (ELS) will pay a cash dividend of $0.325 per share Oct. 10, 2014 to shareholders of record Sept. 24, 2014, marking the third quarter the company has paid the same dividend. The dividend yield is 3.08 percent at the stock price of $42.25, according to nasdaq.com. …

Zacks Forecasts Profitable year for Equity LifeStyle Properties Read More

Settlement of Sixteen Year Legal Wrangling between Owner and Community Pending

By / September 22, 2014 / Business, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes, People

Updating a story MHProNews last posted Jan. 30, 2014 regarding a 16-year attempt by the residents of Naples Estates (Fla.) manufactured home community (MHC) to purchase their community, Collier County Circuit Judge Hugh Hayes had ruled in favor of the Naples Estates Homeowners Association (NEHA) to seek financing to buy …

Settlement of Sixteen Year Legal Wrangling between Owner and Community Pending Read More

San Diego Offers $22 Million to MHC Residents

By / September 22, 2014 / Business, Communities, Legal, Manufactured and Modular Housing News, Manufactured Homes

The city of San Diego has offered to pay the residents of De Anza Cove manufactured housing community (MHC) $22 million in relocation expenses plus attorney fees to settle a lawsuit, following eleven years of legal wrangling. The homeowners’ attorney released a statement saying the city’s offer is a good …

San Diego Offers $22 Million to MHC Residents Read More

Planning Commission Rejects Manufactured Home Proposal

By / September 21, 2014 / Business, Communities, home buyers, Legal, Manufactured and Modular Housing News, Manufactured Homes, regulation, Zoning

The Franklin County (Missouri) Planning and Zoning Commission rejected a conditional use permit (CUP) plan to replace a series of duplexes, senior apartment and Korean-syle huts with single and multi-section manufactured homes for a 110-acre retreat complex for the National Association of Intercultural Family, Inc. (NAICFM). Initially approved in 2007, …

Planning Commission Rejects Manufactured Home Proposal Read More

Attempt to Replace Vacated Manufactured Home Sites Denied

By / September 21, 2014 / Business, Communities, Legal, Manufactured and Modular Housing News, Manufactured Homes, regulation

A request by the owner of residential property in Pierce City, Missouri to re-zone the land as a manufactured home community (MHC) was denied by the city’s aldermen, which is keeping the owner from filling two vacant home sites. A local ordinance requires an empty slot to have a replacement …

Attempt to Replace Vacated Manufactured Home Sites Denied Read More

Promise Zones Set to Expand to other Struggling Communities

By / September 18, 2014 / Advocacy, Communities, Economy, home buyers, Legal, Manufactured and Modular Housing News, People

The next round of the Obama Administration’s Promise Zone applications will be discussed Friday, Sept. 19 at 11 AM eastern time by U. S. Housing and Urban Development Secretary Julian Castro, Department of Agriculture Secretary Tom Vilsack, Department of Transportation Secretary Anthony Foxx, Senator Bob Casey of Pennsylvania and Rep. …

Promise Zones Set to Expand to other Struggling Communities Read More

Sun Communities to Sell Six Million Shares to Fund Acquisition

By / September 17, 2014 / Business, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes

In a filing with the U. S. Securities and Exchange Commission (SEC) dated July 30, 2014, Sun Communities, Inc. (SUI) is selling six million shares to help fund its acquisition of 59 manufactured home communities from Green Courte Partners LLC for $1.32 billion. The first phase of 34 communities is …

Sun Communities to Sell Six Million Shares to Fund Acquisition Read More

MHC ordered to Hire New Management

By / September 14, 2014 / Business, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes

Following a story MHProNews last posted Oct. 23, 2013, the Shoreline Trailer Court in Branford, Connecticut may lose its license to operate if a new management company is not brought on board by Oct. 1, according to nhregister.com. A proposal submitted by community management Renaissance Collaborative last fall did not …

MHC ordered to Hire New Management Read More

Colorado MH Owners Float with FEMA Funds, while MHC Owners Sink

By / September 11, 2014 / Business, Communities, Company News, home buyers, Legal, Manufactured and Modular Housing News, Manufactured Homes, People

Following a story MHProNews posted Sept. 16, 2013 regarding the disastrous flooding in Colorado, the Federal Emergency Management Agency (FEMA) says it distributed $61,634,523 to uninsured homeowners hit by the flooding and rain, including $31,900 each to nearly all the residents of two manufactured home communities (MHCs) along the South …

Colorado MH Owners Float with FEMA Funds, while MHC Owners Sink Read More

Loans Moving from FHA to Fannie and Freddie; Freddie Inaugurates MHC Loan

By / September 11, 2014 / Business, Communities, Company News, home buyers, Manufactured and Modular Housing News, Manufactured Homes, Trends

Donald Salmon of TBI Mortgage says private investors are beginning to buy mortgages written just for self-employed borrowers who put down 30 percent and have good credit scores. Instead of looking at paychecks, they examine a twelve-month bank statement to determine if the borrower can afford the home, nationalmortgagenews.com reports. …

Loans Moving from FHA to Fannie and Freddie; Freddie Inaugurates MHC Loan Read More

Alabama Town Attracting Manufactured Home Subdivisions

By / September 10, 2014 / Communities, home buyers, Legal, Manufactured and Modular Housing News, Manufactured Homes, regulation

The Falkville Town Council in Alabama held a public hearing concerning changing the zoning ordinance for manufactured homes (MH) to allow subdivisions of MH in new areas zoned MH-S, according to hartselleenquirer.com. The ordinance will continue to allow manufactured homes in residential R-1 and R-2 or agricultural zones AG-1 on …

Alabama Town Attracting Manufactured Home Subdivisions Read More

Canada’s MHC Owner Killam Acquires Interest in Apartments

By / September 9, 2014 / Business, Canada, Communities, Company News, Finance, Manufactured and Modular Housing News, Manufactured Homes

Halifax, Nova Scotia, Canada-based Killam Properties, Inc. (KMP.TO) announces it is acquiring a 50 percent stake in a 152-unit apartment building in Ottawa, Ontario, called Kanata Lakes Apartments II, in a joint venture with affiliates of KingSett Capital, Inc. and AIMCo Realty Investors LP. Killam’s 50 percent share of the …

Canada’s MHC Owner Killam Acquires Interest in Apartments Read More

Equity LifeStyle Properties Board Declares Dividend

By / September 9, 2014 / Business, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes, RV

The board of directors of Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend of $0.325 per common share, representing an annual dividend of $1.30 per share, according to wallstreetscope.com. The dividend will be paid Oct. 10, 2014 to shareholders of record on Sept. 26, 2014. In today’s trading, Sept. …

Equity LifeStyle Properties Board Declares Dividend Read More

Where will the Baby Boomers Live as they Age?

By / September 10, 2014 / Communities, Economy, home buyers, Manufactured and Modular Housing News, Manufactured Homes, People, Trends

According to Harvard University’s Joint Center on Housing, the nation is poorly prepared to house aging Baby Boomers, especially those disabled. An added problem is one-third of those aged 50 and older spend more than 30 percent of their income on housing; some boomers who still have a mortgage on …

Where will the Baby Boomers Live as they Age? Read More

7-Eleven and Family Dollar to take MHC Resident Rent

By / September 9, 2014 / Business, Communities, Company News, home buyers, Manufactured and Modular Housing News, Manufactured Homes

PayNearMe and ManageAmerica are partnering to allow manufactured housing residents pay their rent and other housing costs with cash at a network of 17,000 convenience stores nationwide, according to marketwatch.com. The funds are immediately guaranteed to management, the resident receives a receipt, and the transaction takes under a minute, like …

7-Eleven and Family Dollar to take MHC Resident Rent Read More

Modular Housing Development to Straddle Canadian River

By / September 5, 2014 / Business, Communities, Company News, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Modular

Plans to site 166 new modular homes in a proposed development in Vancouver, British Columbia, Canada on both sides of the South Alouette River are raising concerns with nearby residents—and the eyebrows of district staff. The increased density for the area would move from 2.5 residential units per hectare (nearly …

Modular Housing Development to Straddle Canadian River Read More

Zell, Soros, Druckenmiller and Icahn Agree: A Big Board Correction is Imminent

By / September 5, 2014 / Business, Communities, Company News, Economy, Manufactured and Modular Housing News, Manufactured Homes, People, RV

Sam Zell, Chairman of  real estate giant Equity International, and Equity LifeStyles, which owns/has an interest in 380 manufactured housing and recreational vehicle communities in North America, noting corporations that have missed their expected goals were low on the revenue side, which means the demand is not there for their …

Zell, Soros, Druckenmiller and Icahn Agree: A Big Board Correction is Imminent Read More

Tiny Homes Recommended for Princeton, New Jersey

By / September 4, 2014 / Communities, Factory-Built Homes, Manufactured and Modular Housing News, Modular

Writing in centraljersey.com, Anne Waldron Neumann tells MHProNews the Tiny House movement is attractive because it is off the grid—solar panels, recycled building materials, composting toilets, propane tanks—and it offers an anti-consumerism while still being community/neighborhood-friendly. She even suggests they could create more population density in Princeton, New Jersey by …

Tiny Homes Recommended for Princeton, New Jersey Read More

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