Finally some GOOD news about the sale of a park!!!

[Greg]

Good luck to the new owners!!! Greg


Elbridge tenants to buy their mobile-home park
They will pay $3.6 million for Champion Mobile Home Park, a 47-acre site.
Thursday, December 11, 2008
By Matt Michael
The Post Standard Staff writer
For the past 25 years, Champion Mobile Home Park in Elbridge was the family business for Marc Seigle. And the 350 people living there were like his extended family.

So when Seigle had a chance to sell the park to the residents instead of an out-of-towner, he jumped at it.

Seigle, who now lives in Boston, is selling the park to the residents today for $3.6 million. The residents formed a homeowners association that is borrowing the money from the state and a nonprofit group that promotes resident ownership of mobile home parks.


It's the first mobile home park in Central New York that will be owned by its residents, according to the state's Housing Financing Agency, which is lending $2.65 million to the residents.

Seigle said he's not losing money because the $3.6 million is comparable to the "three or four" serious offers he received. And the residents benefit because a new owner won't increase the rent, or try to turn the park into an apartment complex or strip mall.

Seigle, a Syracuse native who graduated from Notting-

ham High School in 1962, had been running the park since 1983 with his mother, Betty Jane Seigle, and brother, Jon Seigle, who together formed the Elbridge Land Company.

"Because it was a family business, our primary concern was not always the bottom line," Seigle said. "As far as I'm concerned, this is the best possible result for me and my customers."

Phil Lentz, director of communications for the HFA and the state's Affordable Housing Corp., said it's the 14th time the state has issued a low interest-loan to residents of mobile home parks to buy their parks.

Champion Mobile Home Park is on 47 acres off Route 5, between Camillus and the village of Elbridge. Of the park's 172 home sites, 164 are currently filled with about 350 people, said park manager Gordy Franz.

For the past 25 years, Champion Mobile Home Park in Elbridge was the family business for Marc Seigle. And the 350 people living there were like his extended family.

So when Seigle had a chance to sell the park to the residents instead of an out-of-towner, he jumped at it.

Seigle, who now lives in Boston, is selling the park to the residents today for $3.6 million. The residents formed a homeowners association that is borrowing the money from the state and a nonprofit group that promotes resident ownership of mobile home parks.


It's the first mobile home park in Central New York that will be owned by its residents, according to the state's Housing Financing Agency, which is lending $2.65 million to the residents.

Seigle said he's not losing money because the $3.6 million is comparable to the "three or four" serious offers he received. And the residents benefit because a new owner won't increase the rent, or try to turn the park into an apartment complex or strip mall.

Seigle, a Syracuse native who graduated from Notting-

ham High School in 1962, had been running the park since 1983 with his mother, Betty Jane Seigle, and brother, Jon Seigle, who together formed the Elbridge Land Company.

"Because it was a family business, our primary concern was not always the bottom line," Seigle said. "As far as I'm concerned, this is the best possible result for me and my customers."

Phil Lentz, director of communications for the HFA and the state's Affordable Housing Corp., said it's the 14th time the state has issued a low interest-loan to residents of mobile home parks to buy their parks.

Champion Mobile Home Park is on 47 acres off Route 5, between Camillus and the village of Elbridge. Of the park's 172 home sites, 164 are currently filled with about 350 people, said park manager Gordy Franz.

[Harry]

Yo

It's good to hear there are some happy endings.

Harry

[Greg S]

Nice win/win situation.

Tenants in my park tried to organize to buy it several years ago.
Turns out it was like trying to get a pack of cats to walk in a straight line.
Back then it was an affordable price now it is out of reach.

[Dirty White Boy]

I've been waitin a year now for news of my park...lol

Keep in mind it is only 16 lots big and surrounded by 5 mobiles on their own property. They have been I guess trying to sell it for years. "they" as in the IRS. For $33,000 in back taxes you can have yer very own trailer park.lol

Of course no onw knows any real information though. It's just a waiting game...

A park down the street was sold a few years back. The tenants had 30 days to pack up and get out. If they couldn't move the home, it got dozed over. No reimbursment on the home...

[Greg S]

Depending on the number of homes and the potential lot rents if I lived in your area I would definitely be taking a look at buying your park. Too bad it's so far away.