Acquiring Communities Which Have Not Been Maintained by Previous Owner
Investing in distressed mobile home communities that have not been maintained by the previous owner not only generates social and financial returns but expands the supply of quality, affordable housing. Improved housing and living environments result in a higher quality of life, helping residents to thrive and communities to flourish.
Revitalizing neglected manufactured home communities drives business and investment, creates jobs, and translates into improved services for residents, including street lighting, drainage, and waste collection. As residents spend more money in the area where they live and work, this opens up new opportunities for growth and further strengthening of the local economy.
Many communities are rich in assets such as proximity to colleges and universities, restaurants, recreation facilities, and employment, traditional thoroughfares, connectivity to mass transit, historical sites and landmarks, and an abundance of playgrounds, parks, and green spaces. This multitude of assets, when packaged properly, developed, and continuously invested into, provide opportunities for investors and create value for communities and residents.
Capital Improvements That Create Value
Newly Paved Roads
Roads provide access to education, health, social services, and employment and contribute to the growth and economic development. Linking patients to hospitals, students to schools, and workers to jobs, building new roads is an integral part of any community development agenda. Whether upgrading existing roads or constructing new ones, accessibility to amenities and facilities increases. Good road infrastructure is essential for community development as it scales up competitiveness, improves connectivity, and attracts businesses and investment.
New or Updated Amenities
Investing in new or updated amenities not only helps increase property values and attracts new residents but keeps everyone engaged and active. Amenities such as playgrounds, basketball courts, gyms, parks, and community clubs bring people together, offer recreational opportunities, and contribute to the wellness and health of all members.
Investing in amenities makes communities more attractive and inviting, provides space for meeting and socializing, and offers families a place where they can keep their kids occupied. Having access to good amenities and recreational opportunities offers residents a chance to relax and get entertained and contributes to a more complete life.
Removing Dead Trees
Removing dead trees offers many benefits and generally improves the health of local landscapes. As trees decompose, they can fall and injure residents and damage housing and community amenities. Dead trees that died from mildews or disease can spread airborne infections to other plants and affect residential and community assets. Rotting trees also look bad and removing them gives an aesthetic lift to the local landscape.
By evicting dead trees before they decompose, investors help ensure resident safety and improve the quality and appeal of communities.
Adding Street Lights
Adding street lights helps reduce property damage and theft and improves community safety. Street lighting not only promotes security but improves the safety of pedestrians, riders, and drivers. Investing in street lights and illuminating parks, roads, and public amenities improves visibility and reduces the risk of injuries, accidents, and other mishaps. Extending the hours in which it is light enables people to find their way in the dark and helps communities come alive at night. For community spaces to be safe and welcoming, including community centers, neighborhood spaces, and parks and playgrounds, they have to be well-lit.
Investing in well-designed lighting both ensures resident safety and security and enhances landmarks such as lakefronts, seafronts, promenades, and boardwalks.
Upgrading the Mailboxes
Upgrading the mailboxes helps reduce mail robbery which can result in fraud, identity theft, loss of property, and credit card scamming. It is not surprising that mail is often the target for theft as it is commonly used to send bank statements, identification documents, checks, credit cards, and other confidential documents.
Investing in mailbox upgrades ensures secure package delivery and keeps valuable items safe, including social security and tax information, healthcare and medical information, envelopes with heirlooms and jewelry, and notarized documents.
Successful Communities Due to This Strategy
Investing in community redevelopment and reinvesting each year helps create successful, sustainable, and eco-friendly communities that benefit residents, the local economy, and the environment. Investing in distressed and neglected communities is a way to improve housing affordability and availability, mend our social fabric, and ultimately rebalance the scales of justice. Transforming economically distressed communities and undervalued assets into investment-grade communities and resources contributes to building vibrant local economies and healthy and connected civic societies.