Bellingham MHC Begins Purchase Process

Samish Mobile Home Park residents are taking advantage of new laws that give them priority to purchase their manufactured home community. If they are successful with the approximately $5 million purchase, they will operate the park as a limited equity housing cooperative.

The park sits on three acres at 119 N. Samish Way, Bellingham, Wa and consists of 42 spaces mostly occupied by single-wides and RV’s. Most of these have tax assessments under $10,000. Yet the proposed price would be about $120,000 per space. The site is in an area with many motels and restaurants so appears to be priced based upon re-development opportunities.

The residents’ association is being helped by a nonprofit organization doing business as Northwest Cooperative Development Center in Olympia. They in turn are part of a national organization, ROC-USA (resident owned communities). These groups assist in determining feasibility and working with nonprofit lenders to secure funding for a purchase.

This post based on a longer article in the Bellingham Herald. Found here

More information about Northwest Cooperative Development Center and ROC-USA