Residents purchase Concord manufactured-home park

CONCORD, NH Homeowners in the 190 Manchester Street Mobile Home Park closed Jan. 31 on the purchase of their 25-unit park, making it New Hampshire’s 128th resident-owned manufactured-home community (ROC).

Using training and technical assistance from the New Hampshire Community Loan Fund’s ROC-NH™ team, homeowners organized and formed Top of the Hill Cooperative last August.

The cooperative’s members elected a board of directors and worked closely with ROC-NH to make the purchase a reality. They negotiated with the park’s owners, S & M Properties, Inc., reached a purchase price of $630,000, and finalized the deal Jan. 31 with a mortgage from the Community Loan Fund.

Participants in the loan closing of Top of the Hill Cooperative

From left, Bill Norton of Norton Asset Management, Top of the Hill Secretary Barry Mulari and Vice President Linda Lord, S & M Properties President Carmella West, Top of the Hill President Charles Fairfield, and Tyler Labrie of ROC-NH.

“Twenty-five years ago, my parents sold two manufactured housing communities in Concord to the residents. When it came time to sell 190 Manchester Street, I knew I wanted to do the same,” said S & M Properties President Carmella West. “It is nice to know that the future of the community is in control of the residents.”

Top of the Hill board members agreed wholeheartedly. “We feel very fortunate to own and preserve our community,” said Vice President Linda Lord. “Thank you to ROC-NH for the support and making the process easy,” said President Charles Fairfield.

Cooperative ownership means Top of the Hill Cooperative 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 more-than-7,200 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 35 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.

A full list of resident-owned cooperatives in New Hampshire is available at