Archive

Posts Tagged ‘St. Louis’

Developer Plans to help MHC Residents Transition

April 21st, 2017 Comments off
creditSTLToday-postedtothedailybusinessnewsmhpronewsmhlivingnews

A view inside the Chesterfield Mobile Home Park. Credit: STL Today.

Just outside of St. Louis, Missouri, a developer is dealing with the reality that sometimes, trying to do the right thing isn’t always enough.

In a story the Daily Business News originally covered here, the city of Chesterfield’s only manufactured home community, Chesterfield Mobile Home Park, had rumors swirling about a potential sale of the community, and the development of almost 300 apartments where it currently sits.

According to STL Today, Mike Lang, who leads developer Amerwest Development LLC of West Palm Beach, Fla., wants to minimize disruption of the families in the community and provide the help necessary for residents to transition should his bid to buy the site go through.

We would be as equitable as possible,” said Lang.

I’m sensitive to the fact that they’re there. I’m not interested in creating huge upheaval.”

The area has become a hot bed for developers, as large companies such as Monsanto, Bunge, Reinsurance Group of America and Pfizer are building new employment centers in Chesterfield. The city is one of the region’s most affluent suburbs.

Yes, we’re going to disrupt people’s lives,” said Lang. “But the question is: Am I going to do it, is someone else going to do it?”

ManufacturedHomeCommunityResidentsFaceUncertainFuturecreditGoogle-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Google.

With zoning hearings coming in the near future, Lang’s ability to purchase the community is still far from a done deal. And some residents in the community are gearing up for a fight.

Some residents gathered last week at one of those zoning hearings at Chesterfield City Hall to state their case.

We’re trying to get a solid front,” said Edward Ernstrom, a chiropractor who has lived in the community for 10 years. “They didn’t give us a whole lot of time to mobilize.”

Ernstrom says that many of his neighbors may struggle to afford another home in town.

There’s people there that don’t have an exit plan,” said Ernstrom. “That was the living style they could afford.”

Ernstrom also said that while community residents understood that something like this might happen because they don’t own the land under their homes, he wants to see some form of compensation to help residents relocate.

As situations like the one in Chesterfield continue to play out around the country, leaders in the manufactured housing industry provided MHProNews their take.

jay-hamiltong-executive-director-georgia-manufactured-housing-association-gmha-posted-mhpronews-com(1) (1)

Jay Hamilton, credit, MHProNews.

As communities become surrounded and engulfed by restaurants, Hilton Hotels, stadiums, big box stores, airports, residential and commercial developments,” Jay Hamilton, Georgia Manufactured Housing Associations’ executive director told MHProNews, “property taxes begin exceeding the total revenue from renting spaces.”

The struggle over community owner’s property rights vs. land-lease community resident rights continues. Equity LifeStyle Communities Chairman Sam Zell’s view, published exclusively on MHProNews on that topic, are linked here.

In commenting on such cases, ROC USA President Paul Bradley told MHProNews,  “How can we promote homeownership and sell new homes on leased land and at the same time close communities? It’s like selling tickets to a zoo where ‘only 1 in a 100 are eaten by the lions!’”

paul bradley roc usa founder fosters.com cedit

Paul Bradley. photo credit: Fosters.

Bradley believes that the community sector should identify those communities that may be subject to closure and redevelopment, and differentiate them between those land-lease locations that have no plans to be anything but a manufactured home community. See his statement, linked here. ##

 

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Security Mortgage Group Finances 80,032,500 for Several Communities

January 24th, 2017 Comments off
SecurityMortgageGroupRecentCommunityLoansClosed-ManufacturedHousingIndustryDailyBusinessNews-MHProNews-

This community photo, logo and other images from the Security Mortgage website are the property of that firm, and are provided here under fair use guidelines. Text graphic and collage by MHProNews.

Rochester, New York-based Security Mortgage Group, a national award-winning MH Community lending broker, has provided $80,032,500 in financing for several manufactured home communities throughout the nation over the last few months.

Managing Director, Gerard D. DiMarco, Jr., secured financing for several MHC portfolios, including a repeat client’s portfolio of Midwest MHCs with a total loan of $6,900,000, an upstate New York MHC portfolio acquisition for a repeat client for $4,050,000 and a $14,500,000 loan for a client’s Ohio MHC portfolio.

GeraldDiMarcoJrSecurityMortgageGroupManufacturedHousingCommunityIndustryFinancingReFi-postedDailyBusinessNewsMHProNews-

Gerald DiMarco Jr, Managing Director, Security Mortgage Group. This photo and other images from the Security Mortgage website are provided under fair use guidelines.

Additionally, DiMarco helped to negotiate refinancing for a repeat client’s community located in South Bloomfield, OH with a loan of $5,297,000, and financing for a client’s purchase of an existing MHC located in Ocala, FL. The loan amount was $1,718,500.

All of the non-recourse loans featured a long-term fixed rate for repeat clients, DiMarco told MHProNews.

AnthonyDiMarcoSecurityMortgageGroupManufacturedHousingCommunityIndustryFinancingReFi-postedDailyBusinessNewsMHProNews-

Anthony DiMarco, Managing Director, Security Mortgage Group. This photo and other images from the Security Mortgage website are provided under fair use guidelines.

Managing Director Anthony J. DiMarco, also negotiated refinancing for several repeat clients including a loan of $15,375,000 for a 488-site MHC located in Cedar Rapids, IA, a $4,807,000 loan for a St. Louis area MHC, a $7,520,000 loan for a 333-site community located in Cedar Falls, Iowa and a $4,700,000 loan for an Indiana MHC portfolio.

Additionally, he secured financing for a repeat client’s purchase of a MHC located in Port Huron, MI with a loan of $13,500,000. The 496-site community includes a clubhouse and playground.

Vice President Pierce Redmond assisted in the negotiation of refinancing for a repeat loan of $1,665,000 for the Clintonview & Swiss Gardens Townhomes located in New Hartford, NY.PierceRedmonVPSecurityMortgageGroupManufacturedHousingCommunityIndustryFinancingReFi-postedDailyBusinessNewsMHProNews-

The Security Mortgage Group website says they are a premier national lending source for Manufactured Home Communities, and a four-time recipient of the “Manufactured Home Community Lending Broker of the Year” award given by the Manufactured Housing Institute (MHI.)

A look at Security Mortgage Group’s recent performance, which featured $40,853,000 in financing over the course of a week, is linked here. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Missouri County Bans Living in Transitory “Homes”

May 5th, 2014 Comments off

Franklin County (Missouri) Planning Director Scottie Eagen reports her office has been getting complaints of people living in tents, travel trailers and recreational vehicles as their primary residence in an attempt to skirt residency rules. A new ordinance has banned that practice, as cbslocal.com informs MHProNews.com, and violators could be subject to a fine. People had been able to live for 90 days on land zoned “agricultural non-urban,” said Eagen. “ They would live in it for 90 days, move to another lot next to this one, live in it for 90 days, move to another lot.” Manufactured and modular homes are acceptable in this county just southwest of St. Louis, but not the more transient “homes.” ##

(Photo credit: Sunny Oaks manufactured housing community)

Missouri Clayton Homes Hold Strong though Housing Crisis

March 4th, 2011 Comments off

STLtoday.com reports Ed Atherton, general manager of a Clayton Homes dealership in St. Louis, says, “Our homes get better and better, year after year.  These are not the old trailer homes that many people remember.”  Noting that the same materials are used in manufactured housing as in conventional houses, he says they are as sturdy and energy efficient, and cost substantially less than a conventional home of similar dimensions.  Sales have suffered during the housing crisis, but in calendar year 2010, Clayton sold 483 homes in Missouri, up from 435 in 2009, but down just a bit from the 494 sold in 2008.  The Missouri Public Service Commission (PSC) reports a total of 2,934 new and used factory-built homes sold in the state as of the fiscal year ending June 30.  For that same period in 2008, the total was 4,091.  The PSC says the number of dealers of prefabricated housing declined from 290 before the recession to 250 today.  Ron Pleus, Director of the Manufactured Housing and Modular Units Program at PSC says Clayton provides a good product.  “And they are usually good about following up on owner complaints and making corrections,” he added.

St. Louis Fills Urban Gaps with Modular Housing

February 20th, 2011 Comments off

Through a consortium of local, state, and community development organizations, the urban vacant lots that dot downtown St. Louis are beginning to be occupied by sustainable, affordable, modular homes built by Homeway Homes of Illinois.  Featuring bamboo floors, Low-E Energy Star windows, high efficient HVAC and other aspects designed to conserve water and energy, the first house, small at 1,360 square feet but with three bedrooms and two baths, was recently installed on its precast foundation.
EcoUrban, the redevelopment firm spearheading the project, says one of the highlights is the use of high performance SPF insulation made by NCFI Polyurethanes that effectively seals all mechanical and electrical openings throughout the house, according to SprayFoam.com.  This provides a leakage rate of under 10 percent as well as excellent air quality.  Seven additional homes are on the planning board. MHMSM.com first reported on this trend last year in  ‘Some Say the Future for Manufactured Homes Is Downtown‘ by Eric Miller.