The New Hampshire Business Review tells MHProNews the New Hampshire Community Loan Fund (NHCLF) has helped over 100 manufactured home communities (MHC) convert to resident-owned cooperatives in the 30 years since the Sisters of Mercy invested their pension fund in the non-profit. The residents of the Meredith Trailer Park formed …
Funder Celebrates 30 Years Supporting Community Cooperatives Read More
Killam Properties of Halifax, Nova Scotia, Canada has declared a dividend of $0.05 per share payable on Monday, Dec. 16, 2013 to investors of record on Friday, Nov. 29, 2013. According to tickerreport.com, analysts at Dundee Securities cut their price target on shares of Killam Properties from C$11.75 to C$11.50 …
After the former owners of the Anchor Bay Manufactured Housing Community (MHC) just north of Detroit, Michigan lost the 1,300-site community to the bank, J.D. Equity investors purchased it and have been generous in their support of the community. Most recently, according to voicenews.com, one of the investors (who wants …
The flooding that ravaged Colorado in Sept. destroyed 154 manufactured homes (MH) and damaged 901 additional MH, displacing thousands of residents in the 11 manufactured housing communities (MHC) in the flood zone, according to Kerri Nelson, the state’s deputy chief recovery officer. Some communities may spring back to life with …
Flooded Manufactured Home Victims Deal with Destruction Read More
Although the Brownwood, Texas Planning and Zoning Commission had denied a request to rezone property from MH Manufactured Home District to M1 Restricted Industrial District, the Brownwood City Council approved the request on first reading. Donald Allgood, Jr. said he uses the property to store heavy earth-moving equipment and other …
Planning Commission, City Council at Odds over Zoning Read More
Continuing the saga of Garden Homes Management Corp.’s seven year attempt to build a 124-unit manufactured housing community in Oxford, Connecticut, as MHProNews last covered Sept. 20, 2013, Nov. 14 saw another four and one half hour hearing to resolve the inland wetlands issue and storm water management without conclusion. …
Seven-Year Battle to Build Manufactured Housing Community Continues Read More
Australia-based Ingenia will sell its three student accommodation units in Wellington, New Zealand, valued at $35.6 million and invest the receipts in more manufactured housing communities (MHCs). The company paid $10.7 million Nov. 19, 2013 for two MHCs north of Sydney, Australia in Hunter Valley with options to acquire two …
Avalon Properties has brought in 100 new and remodeled manufactured homes to Desert Mountain Estates, a manufactured housing community it bought when it contained ten dilapidated factory-made homes and a history of police runs because of criminal activity. Located outside Alamogordo in south central New Mexico, the community is owned …
Manufactured Housing Community Restored in New Mexico Read More
The 901 homesite Tri-Star Estates manufactured housing community in Kankakee, Illinois was purchased in April, 2013 by Santefort Real Estate Group for $13 million after prior owner, Capital First, declared bankruptcy in Nov. 2010. Brian Gallagher, chief operating officer (COO) for Santefort, says, “We have a tremendous amount of work …
Although traditional property types such as multifamily, office, industrial and retail continue to dominate the majority of collateral in commercial mortgage-backed security (CMBS), non-traditional properties are increasing. Specifically, as businesswire.com informs MHProNews, manufactured housing communities (MHC) are making up a larger part of the deals. Although this asset class accounted …
Manufactured Housing Communities Grow in Mortgage-Backed Security Deals Read More
In its third quarter financials, UMH Properties announces it has increased its portfolio of homesites by 26 percent since the beginning of the year. For the quarter ending Sept. 30, 2013 funds from operations (FFO) attributable to common shareholders of $1,993,000 or $.10 per diluted share as compared to Q3 …
A project to bring more affordable housing to Spencer, Iowa is in the works at the Sioux River Estates manufactured housing community, according to spencerdailyreporter.com. Dave Jacobsen of Jacobsen Homes Corp. says the plan is to replace the aging factory-built homes with either manufactured or modular homes in the spring. …
Manufactured Homes May Replace Aging Factory-builts Read More
Following up on a story MHProNews posted Oct. 31 regarding the acquisition of Spruces Mobile Home Park by the city of Williamstown, Massachusetts and returning it to a natural state because it is in a flood plain, the Board of Selectmen will discuss the drafts of three warrant articles dealing …
City Prepares to Acquire Manufactured Housing Community Read More
Unless the Columbia Mobile Home Park in Columbia, California resolves two outstanding violations within thirty days, it’s license to operate will be suspended and it cannot collect rent or other monies from the residents. According to mymotherlode.com the California Department of Housing and Community Development posted the notice at the …
UMH Properties, Inc. of Freehold, New Jersey announces it has acquired five manufactured home communities (MHCs) consisting of 519 developed home sites for $11,800,000, according to wsj.com. The all-age communities—four in Ohio and one in New York—have an average occupancy of 82 percent, and boost UMH’s portfolio to 74 communities …
Residents of the Hillcrest Mobile Home Park in Middleboro, Massachusetts are perfectly willing to see their site rents bumped from $192 a month to $281: It means long-neglected capital improvements will be undertaken for these residents who are purchasing the community from Morgan MHP Mass, LLC. Morgan had asked for …
As follow-up to a story MHProNews posted Oct. 14, 2013 regarding a neighbor’s request for a green belt street-side screening of a manufactured home community in Preston, Minnesota, the Preston City Council questions its responsibility in the matter. City ordinance requires a 15 foot wide “green belt” around any manufactured …
Green Belt around Manufactured Housing Community not Buckled Read More
Halifax, Nova Scotia, Canada-based Killam Properties reports property revenue for the third quarter ending Sept. 30, 2013 rose 9.4 percent over the same period last year, $37,095,000 over $33,894,000, while net operating income increased from $21,442,000 in Q3 2012 to $23,250,000 for the most recent quarter, a gain of 8.4 …
Updating a story MHProNews last published Oct. 3 regarding Federal Emergency Management Agency (FEMA) efforts to find housing for Colorado’s September flood victims, 9news.com reports from Henderson, CO the first 16 of 50 or more manufactured homes have arrived at a parking lot behind a flea market north of Denver. …
Kenneth D. Brown, 79, of Toddville, Iowa, a longtime member of the Iowa Manufactured Housing Association (IMHA) and owner of Bali Hai land lease community in Hiawatha, Iowa passed away Oct. 31. He was also co-owner of Brown and Dyer Construction, with Jim Dyer, and a cattle farmer for many …
