Back in May, Hickory Village Mobile Home Park in Fort Collins went up for sale. And the residents wanted to buy it.
The residents' goal was to become a resident-owned community, or ROC. That would have allowed the residents to jointly own the land they live on and have more control over rent, utilities and maintenance.
But after submitting and then resubmitting an offer, negotiations ultimately fell through, meaning that the owner can now sell the park to Havenpark Communities for its offer of $23 million. Formerly known as Havenpark Capital, this private real estate investment firm owns manufactured housing communities around the country.
But according to a recent report from Manufactured Housing Action, Havenpark has a history of pricing out its residents. In the last few years, Havenpark reportedly increased rent by over 65% in parks in Montana and Iowa just months after purchasing them. And in multiple cases, Havenpark has required residents to pay for utilities traditionally paid for by park owners.
Colorado Edition spoke to Andy Kadlec, the program director for Thistle ROC, a nonprofit organization that helps mobile home parks to become resident-owned communities. He explained what happened at Hickory Village and emphasized the importance of maintaining affordable housing options.
