Golden mobile home residents to buy park from out-of-state investors

For years now, Contact Denver7 has advised you about out-of-state buyers shopping for cellular dwelling parks and instantly elevating rents. Now, a group in Golden is taking issues into their very own palms.

They’re shopping for again their property, partially, thanks partially to some assist from the Metropolis of Golden.

Pat Martinek has been combating to remain in her dwelling at Golden Hills Cell House Park, even after lot rents doubled in lower than two years.

“We’re simply looking for methods to make it reasonably priced for us. As a result of we have already misplaced fairly a couple of as a result of they could not afford even the earlier lease will increase,” Martinek advised Contact Denver7.

The Golden Hills Cell House Park was purchased in November 2021 by Concord Communities, an out-of-state investor that has since raised lot rents twice. It has compelled residents on fastened incomes, equivalent to Gordon Gumble, to make powerful selections.

“It signifies that my Social Safety would not fairly cowl every little thing anymore,” stated Gumble. “And I’ve needed to in the reduction of on meals I eat. I am unable to dwell as excessive on the hog as I used to.”

Residents at Golden Hills have shaped a co-op, with the objective of shopping for the park themselves. Nonetheless, three earlier presents have fallen via.

A fourth provide has been accepted and is anticipated to shut by the tip of July, in line with Concord Communities.

Tim Townsend is with Thistle ROC, a nonprofit serving to cellular dwelling parks transition from non-public homeowners to resident-owned communities (ROCs). He stated Golden Hills may very well be a mannequin for different communities going through steep lease will increase.

“What we sometimes see is {that a} purchaser is available in and begins a lease improve if they will,” stated Townsend. “These lease will increase have displaced households, and our objective with forming extra residential communities is to keep away from that displacement and begin creating extra of an reasonably priced housing possibility, long-term.”

In a press release to Contact Denver7, a Concord Neighborhood spokesperson wrote, “This chance is a win/win, and we could not be happier for everybody concerned.”

However there’s a catch. If the residents purchase the property, rents will go up once more.

“They do want further funding at this level to maintain these rents reasonably priced as the acquisition goes ahead,” stated Laura Weinberg, the mayor of Golden.

The town has already dedicated to investing $1 million to assist within the residents’ buy of the property, however metropolis employees is now recommending a further $1 million towards the mortgage to restrict the rise in lease.

The mayor is hoping different companies will step as much as assist residents with reasonably priced housing funds.

“I do know it’s a precedence,” stated Weinberg. “I additionally know that we hope to proceed conversations with Jefferson County, who additionally has funding obtainable for housing.”

Residents are frightened about the opportunity of one other lease improve, however are hopeful the acquisition will deliver stability and a way of safety.

“We’re very hopeful, and the Metropolis of Golden has been fantastic. We hope that may proceed,” stated Martinek.

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