Posts Tagged ‘manufactured home’

A few months ago, many residents of Casa Del Sol West, a manufactured-home senior community near 91st and Peoria avenues, were angry with owner Equity LifeStyle Properties. They didn’t want the owner to allow recreational vehicles without a permit on the 1970s property.

Earlier this month, after about four months of talks, most residents were OK with sharing space with more than two dozen RVs and travel trailers. But they had two conditions: The age-restrictions would remain, and no area could be converted to an RV park.

Under the zoning standards when the community was built, RVs and travel trailers are allowed for up to 15 percent of the total spaces allocated. In Casa Del Sol West, the owner requested use in 12 percent of the lots, which would be 29 spaces.

As part of the conditional permit, Peoria has stipulated that a minimum lease of 30 days be entered into, to mitigate the generally transient nature of RV owners and provide some stability to the community, Robert Gubser, a senior planner, , told the planning commission.
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Peoria, AZ – Nan Cords says she chose to call Apollo Village home only after being assured that recreational vehicles would not share space with the manufactured-home lots in the 1970s retirement community. But more than a year ago, she and others in the 261-lot community on the northeastern corner of 99th and Peoria avenues noticed RVs parked where there should be only manufactured homes. Equity LifeStyle Properties, the owner of Apollo Village, had leased the space to RV owners. And it was done without a special permit the city requires.

About six RVs are parked in the manufactured-home community. At the peak, during the Super Bowl in 2008. there were about 20, according to resident Floyd Krause.

Peoria planners say zoning would allow a limited number of RVs on the property if a conditional use permit is obtained. Equity LifeStyle Properties filed a retroactive application for such a permit, and staff is recommending approval to the Planning and Zoning Commission next week.

City planners have placed some caveats to mitigate negative impacts on the neighbors. But dozens of residents plan to attend the planning meeting to protest, saying the RVs are loud, damage the community’s roads and were never part of the deal.
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With news headlines sounding alarms like, “Joblessness on the Rise,” “Mortgage Crisis Unfolds,” “Record-Breaking Oil Prices,” and “Recession Looms,” one could easily assume that the U.S. economy is in for a dramatic downward spiral. Just as with other stories in the news, however, reality is much more subtle than the headlines. Although the short-term outlook for much of the economy is bleak, not every sector will suffer. “Even though we’ve seen some dramatic economic shifts – particularly in the real estate market – RV resorts and manufactured home communities continue to be sound investments,” says Leon D. Meekcoms, President of Parkbridge Capital Group, Inc, a privately held real estate investment, acquisition, and brokerage firm.

Meekcoms attributes the strength of the manufactured home and RV resort markets to two underlying factors: prosperous Baby Boomers on the verge of retiring are trending toward having affordable second residences, while vacationers are opting for seasonal recreation within driving distance of their homes. “Properties within two hours of major cities and those that are in the Sun Belt will continue to appreciate and provide the foundation for increasing returns over time,” says Meekcoms.

Pre-built resort cottages, commonly referred to as “park models,” are perfect for cost-conscious Boomers. Maxing out at around 400 square feet, these mini-homes may look like cottages or cabins, but are legally RVs. “Park models are the ultimate hybrid,” says Meekcoms. “They can be luxurious and have myriad amenities like a house, but without the tax implications of a permanent residence.” Because of the dramatic increase in the popularity of park homes, manufacturers are enjoying keeping up with consumer demand.

Similarly, traditional RV manufacturers are seeing strong demand, and industry insiders estimate that over 8 million families will own recreational vehicles by 2010. Although one might assume that record-breaking fuel prices would discourage RV travel, Meekcoms says that the opposite is true. “Research indicates that those who own RVs overwhelmingly feel that RV vacations are much less expensive than other travel options,” he says. “What we’re seeing is that RV owners are spending less time on the road and more time at their destinations.”

Trends in both park models and RV travel are strong indicators that RV resort properties are a wise investment, which is why Parkbridge Capital has focused on this market. “The number of upscale park model and RV resort communities is relatively small, so demand is sure to outstrip supply in coming years,” says Meekcoms. “We’re confident that buying, upgrading, and expanding existing properties will maximize investor return while providing Americans with an affordable, or even quite luxurious way to achieve the lifestyle that they desire.”

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