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Posts Tagged ‘Town & Country Estates’

Major Media Coverage for Manufactured Housing

May 12th, 2017 Comments off
MajorMediaCoverageforManufacturedHousingcreditNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews

A major trend in manufactured housing is now receiving national attention. Bill and Donna Bernard’s manufactured home. Credit: NBC.

Last Sunday evening proved to be a big one for the manufactured housing industry veteran, Paul Bradley President of  ROC USA.

Bradley appeared on NBC Nightly News in a segment on manufactured home communities.

The feature focused on those 55 and over, who are downsizing in retirement and choosing manufactured home communities as an option.

Bill & Donna Bernard, the couple featured in the report, sold their long time home for $629,000, allowing them to retire and purchase an $85,000 manufactured home, which they moved into a community in Pismo Beach, California.

MajorMediaCoverageforManufacturedHousingcreditNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews2

Bill and Donna Bernard. Credit: NBC.

That’s one of the reasons we were able to retire at an early age,” said Bill Bernard.

NBC Nightly News pointed to the case of the Bernard’s as a growing and popular trend, which is helping to break the “trailer park” [sic] stigma.


With the popularity, Bradley offered critical advice to those that are considering a move similar to the Bernard’s.

You want to find a community that is not a risk of redevelopment and you want to find a community where rents are affordable,” said Bradley.

MajorMediaCoverageforManufacturedHousingcreditNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews3

Credit: NBC.

The NBC feature was another in a line of appearances by Bradley and ROC USA in national media, including a March 2017 Time magazine article entitled “The Home of the Future.” In that feature, reporter Karl Vick visited three non-ROC USA affiliated resident-owned communities in Zephyrhills, about 30 miles northeast of Tampa, Florida.

Another feature was done by National Public Radio (NPR) in Minneapolis.

The recent media coverage is not only great for ROC USA and its affiliates across the country, but for the entire manufactured housing sector,” said Bradley.

These stories have focused on positive developments in and perceptions of manufactured housing,” he said. Whether that’s in resident-owned communities or not, we all benefit from coverage that combats the stigma too often associated with these homes and worse, the hard-working people who live in them.”

As Daily Business News readers are aware, ROC USA recently helped residents of Town & Country Estates in Kingston, Massachusetts, and the Kayadeross Acres Manufactured Home Cooperative in Ballston Spa, New York, to purchase their communities.

We don’t have to look for a landlord, we are the landlord, so that being a co-op and a nonprofit we’re not out to make any money so the only rent that we’re going to be charging ourselves is that which is enough to sustain the place,” said Town & Country Mobile Home Estates Tenants Association President Joe Mauriello.

Without ROC or CDI, we would not be owning this park [sic] today.

That story is linked here. For the Kayadeross Acres Manufactured Home Cooperative story, click here. ##

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

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RC Williams, MHProNews.

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

ROC USA, Bank, Announce Key Partnership

May 3rd, 2017 Comments off
ROCUSABankAnnounceKeyPartnershipcreditROCUSAMetLifeNCB-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: MetLife, ROC USA, NCB.

MHProNews has learned that National Cooperative Bank (NBC) of Hillsboro, Ohio and MetLife have teamed with ROC USA and their ROC USA Capital arm, a U.S. Treasury-certified Community Development Financial Institution, to offer additional financing allowing manufactured home community residents to purchase the communities they live in.

According to the ABA Banking Journal, the program will provide first mortgage and acquisition to permanent loans to finance the conversion of resident associations of MHCs to cooperative ownership in 20 states.

NCB and MetLife have each committed $15 million, and ROC USA Capital $10 million over two years.

We understand the critical need for affordable homeownership across the country and have structured the loan program to bring affordable long-term fixed-rate financing to buyers,” the organizations said in a statement.

ROC USA Capital is the originating lender, lead lender and loan servicer for each of the underlying project loans. National Cooperative Bank has committed $15 million and will serve as lead for the senior participant lender group.”

Credit: ROC USA.

ROC USA will source potential transactions, NCB will perform due diligence and underwriting, and their network will provide technical assistance to newly formed housing cooperatives to enable groups to buy, own and improve communities.

Since the launch of the financing initiative in 2015, the program has successfully converted two MHCs to limited equity ownership totaling approximately $12 million,” said NCB bank in a statement.

The program is aligned with the bank’s mission to support low- and moderate-income communities and cooperative development and also leverages NCB’s deep experience in financing housing cooperatives to provide community development lending.”

ResidentsWintheDayWeAretheLandlordcreditWickedKingston-postedtothedailybusinessnewsmhpronewsmhlivingnews

The Town & Country Community. Credit: Wicked Kingston.

As Daily Business News readers are aware, ROC USA recently helped residents of Town & Country Estates in Kingston, Massachusetts, and the Kayadeross Acres Manufactured Home Cooperative in Ballston Spa, New York, to purchase their communities.

We don’t have to look for a landlord, we are the landlord, so that being a co-op and a nonprofit we’re not out to make any money so the only rent that we’re going to be charging ourselves is that which is enough to sustain the place,” said Town & Country Mobile Home Estates Tenants Association President Joe Mauriello.

Without ROC or CDI, we would not be owning this park [sic] today.

That story is linked here. For the Kayadeross Acres Manufactured Home Cooperative story, click here. ##

 

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

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, MHProNews.

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

Residents Win the Day: “We Are the Landlord”

May 1st, 2017 Comments off
ResidentsWintheDayWeAretheLandlordcreditWickedKingston-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Wicked Kingston.

South of Boston in Kingston, Massachusetts, residents of the Town & Country Estates had a busy day last week.

They bought their community.

According to Wicked Kingston, the residents, with help from (ROC USA) and its affiliate Cooperative Development Institute (CDI), residents of the community were able to realize a dream 10 years in the making, as members of the board for the Town & Country Mobile Home Estates Tenants Association finally signed the papers.

We don’t have to look for a landlord, we are the landlord, so that being a co-op and a nonprofit we’re not out to make any money so the only rent that we’re going to be charging ourselves is that which is enough to sustain the place,” said association President Joe Mauriello.

Mauriello says it was resident Joe Bruno that made the purchase possible, as he initially heard about ROC USA and CDI, the part of ROC USA that helped the association get organized, and contacted CDI’s Andy Danforth. ROC USA has been working with them for the last three years, he said, including the last year of actively working on the purchase.

Without ROC or CDI, we would not be owning this park [sic] today,” said Mauriello.

As Daily Business News readers are aware, ROC USA recently helped residents of the Kayadeross Acres Manufactured Home Cooperative in Ballston Spa, New York, to purchase their community, with papers being signed last Christmas. That story is linked here.

An offer to purchase the community from the previous owner provided Town & Country Estates residents the opening they needed to buy the property for $6.2 million. While there will be an increase in rents, residents say that the stability factor is huge.

ResidentsWintheDayWeAretheLandlordcreditWickedKingston2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Wicked Kingston.

At a celebration, two cakes were decorated with the words “We own it!” and a sign that reads “Hooray! Tis the day, to ourselves we now will pay. Congrats family!”

For more on ROC USA, including a recent study on rent rates, click 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.