"Residents Take Ownership of Brookfield's 55+ Community to Combat Rent Hikes"

Photo byAllan Jung

In a significant move to protect their financial future, residents of Brookfield Meadows Park, a 55+ manufactured home community, have banded together to purchase the property they call home. The decision came after Gene Fry, president of the Brookfield Meadows Park Association, was approached by one of the park’s three owners during a walk in July 2023. The owner asked Fry if the residents would consider buying the 61-home park, sparking a year-long effort to make it a reality.

On September 4, 2024, the Brookfield Meadows Park Association officially closed the deal for $3.9 million with financing provided by ROC USA Capital, a bank specializing in helping residents of manufactured home communities purchase their properties. Fry explained that the driving motivation for the residents was to avoid the rent hikes often imposed by out-of-state management companies that acquire such properties.

"The principal benefit is that our rents will not go up very much in the future," Fry said. "Whereas, if a corporation was to buy it, they tend to raise the rents a bunch."

Residents in other mobile home communities, such as two Auburn parks, have faced rent increases as high as 40%, prompting lawsuits and highlighting the growing concern over corporate ownership of affordable housing. With guidance from the Cooperative Development Institute, the Brookfield Meadows Park Association was able to avoid a similar fate.

The purchase includes $4.4 million in funding, covering the cost of the property, infrastructure improvements, and a phased rent increase plan. Fry projected that rent, currently at just over $480, will rise to between $700 and $800 over the next four years, but should remain stable afterward. As a nonprofit, the community will have full control over its finances, ensuring that costs remain contained.

Evans King, treasurer of the Brookfield Meadows Association, emphasized the importance of this autonomy. "We have control of all our expenses," King said. "It's a democracy."

Built in the late 1980s, Brookfield Meadows Park spans 36 acres, with 25 acres dedicated to the residents’ homes. Over the years, the park has grown from five manufactured houses to 61, with homes averaging 1,200 square feet. Fry and his wife, Jane Heinze-Fry, have lived in the community for 15 years and are among the many residents who have taken control of their housing future by collectively owning their neighborhood.