According to Metropolitan Council data, the number of occupied manufactured homes has declined 12 percent since 2001, to 13,660.
Phil Johnson, managing partner of Lowry Grove LLC, said they have been approached by developers for years who were interested in the property, as it is proximal to a shopping center. He added the infrastructure is deteriorating, as are some of the older homes, making it a good time to sell. He and his partners bought the property for $1.45 million in 2001, and while a selling price has not been disclosed, it is estimated the land is worth $2.25 million.
State law requires the property owners to provide assistance to residents for the cost of relocating. The buyer, Continental Property Group in Wayzata, said relocation payments will likely be in the $2,000 to $10,000 range. ##
(Photo credit: citylab/Esther Sullivan–manufactured home being moved from a community)
