Paradise Ridge Cooperative is state's 135th ROC

RAYMOND, NH — Homeowners in Paradise Ridge Mobile Home Park have purchased their 40-unit manufactured-home park, making it New Hampshire’s 135th resident-owned community (ROC).

Using training and technical assistance from the New Hampshire Community Loan Fund’s ROC-NH™ team, homeowners organized and formed Paradise Ridge Cooperative last September. The cooperative then negotiated with the park’s owners, Albert and Joyce Witham, reached a $2-million purchase price, and finalized the deal March 26 with financing from Cambridge Trust and the N.H. Community Loan Fund.

Paradise Ridge Cooperative President Robie Kelley and Secretary Angela D’Anjou.

“I am proud and excited that we have worked hard to become a resident-owned community,” said the cooperative’s vice president, Mike Dudley, an 18-year resident of the community.

“As Paradise Ridge Cooperative, we are looking forward to working together to be an efficient and beautiful community. We give special thanks to ROC-NH for the assistance in making this endeavor possible.”

Paradise Ridge Cooperative is Rockingham County’s 24th ROC. Those communities contain nearly 1,500 affordable homes.

Cooperative ownership means Paradise Ridge homeowners are now eligible for products and services, including real mortgages, that haven’t been available to them. Studies show that the availability of home financing, when the land is secure, improves the home’s value, the owner’s ability to make improvements, and overall housing affordability.

The nearly 8,300 homeowners in New Hampshire’s ROCs, spread across every county, also have access to management guidance, technical assistance, and leadership trainings in which they earn college credit.

For 38 years, the Community Loan Fund has worked in towns and cities across N.H. to connect people and families with the loans, training and advice that allow them to have affordable homes, secure jobs and quality child care, and become economically stable.

The full list of ROCs in New Hampshire.

Residents purchase Raymond manufactured-home park

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Residents purchase Raymond manufactured-home park

Suscripción al Boletín