Spartanburg Gears Up for Changes in Local Mobile Home Parks
Good evening, folks! The friendly and close-knit communities of our lovely city, Spartanburg, might witness some changes sashaying their way. As we bid adieu to a balmy day, graced by partly cloudy skies that may give in to heavier clouds later tonight, news of a different kind is demanding our attention. The temperature is expected to take a dip, but the buzzing realty scene in the city might experience its own kind of heat.
Shaking up the Mobile Home Park Scene
Remember the Chelsea mobile home park in Moore? You might have driven past it while enjoying a ride around the city. Well, it’s one of four that have found new owners in a group of investors. They are not stopping there though; they’ve announced plans to breathe some fresh life into the units and, hold on, increase the rent too!
Revamping the Neglected Mobile Parks
The wheels were set in motion back in July when the group of investors acquired the neglected Spartanburg mobile home parks. Well, the game plan is simple! Fix the units and raise the rent. Now before you raise your eyebrows, hear out Tim Woodbridge, one of the investors. “We’re not looking to come in and be the highest rent in the area,” he assures. The focus, he says, is to invest enough to improve the parks, which in turn, would entail a higher rent. You see, in the world of business, money needs to roll for future investments. Just laying there, in the banks, might not cut it.
Making Affordable Housing Salubrious
Woodbridge is not new to this scene. With a treasure trove of mobile parks in South Carolina, North Carolina, and Georgia, he has been silently working on what he believes is “the last form of unsubsidized affordable housing left in the country”. The sale, which includes 98 mobile home lots and two single-family homes, is part of his plan to make affordable living better, one park at a time.
Residents’ Concerns over Rent Hike
The news of the rent hike has given sleepless nights to people like Jackie Pilgrim who reside at Oasis. Living off one check a month, she already shells out $900 for her current home, which as she pointed out has no working heat and dysfunctional electricity on one side. With the new ownership taking root and plans of fixing the parks in the pipeline, she is fearful that the improved amenities will stretch her already thin budget and she might have to look for a new place to live.
Assuring A Better Tomorrow
While the concerns raised by the residents are valid, Woodbridge and his team have a different angle to the story. They claim their priority is to fix the homes and make the parks safer and cleaner. “We’re definitely under market rent, based on the Spartanburg metro area and based on other comps in the area”, reassures Woodbridge. So, while rents might go up, he assures they are not going to squeeze every single penny from the tenants.
Looking Ahead
As the city readies itself for the hustle and bustle of the election season two months from now, the changes looming over the mobile home parks coupling with the hefty paperwork of the new ownership group will keep the city buzzing. We hope for a smooth transition that helps everyone thrive.
