The Yampa Valley Housing Authority closed on the sale of the Whitehaven Mobile Home Park on Wednesday, Nov. 30.

The housing authority purchased the mobile home park for $3.125 million on behalf of the residents who live there. Anonymous donations and favorable loans contributed to the purchase of the property.

“We are grateful that with this purchase we have stabilized the situation and the residents know they can stay in their homes,” said Jason Peasley, executive director of YVHA, in a news release. “YVHA will not raise rents in 2023 and intends to invest in infrastructure upgrades and work with the mobile homeowners to create a resident-owned cooperative that can take over ownership of the park.” 

The more than 70 residents feared displacement in August when an unnamed buyer offered to buy the land under their homes. The residents were given 90 days to match the offer of $3 million.

The Steamboat Springs community started a fund in early September to help the residents buy the lot, and in late September, the housing authority submitted an offer to purchase the property, just as it did with the Fish Creek Mobile Home Park in 2007.

That offer was accepted on Oct. 25, and in mid-November, the housing authority board established a new LLC, YVHA Whitehaven Enterprise, a subordinate entity of the housing authority, to assume $2.5 million in loans at a rate of 2.57% used to buy Whitehaven.

The plan is to eventually transfer ownership of the property back to residents.

This story is from SteamboatPilot.com.