Hermosa Village Becomes Colorado’s 16th Resident-Owned Community

On March 4, 2026, residents of Hermosa Village in Durango officially became owners of the land beneath their homes. The $5.45 million purchase marks Colorado’s 16th Resident-Owned Community and secures long-term stability for 56 households. 

Hermosa Village Signing Day

For years, Hermosa Village residents owned their homes but rented the land beneath them, a common structure in manufactured home communities. When the property was listed for sale, residents were already experiencing lot rent increases and facing the uncertainty of what future ownership could mean. 

Rather than wait and see, they chose to act. 

Community meetings began at the local Grange Hall. Residents asked questions, debated options, and ultimately voted to explore purchasing the land themselves. 

“It was not something most of us had ever imagined doing,” said Patrick Valentine, Treasurer of the newly formed cooperative. “But once we understood that ownership was possible, the conversation shifted from fear to responsibility.” 

A volunteer board was elected, and residents began the work of learning what it takes to own and govern their community. Engineers were hired to assess infrastructure, legal agreements were developed, and community rules were revisited. Board members and residents met regularly with Thistle and ROC USA to understand financing, governance, and the responsibilities that come with ownership. 

What began as uncertainty slowly turned into momentum. 

For Thistle CEO Paul D’Angelo, Hermosa Village represents the power of community determination. 

“We are so excited to welcome the Hermosa Village community into the Thistle family of housing,” said D’Angelo. “This milestone reflects the dedication of the residents who stepped forward to lead, the guidance of ROC USA, and the incredible work of the Thistle ROC team. Most of all, it speaks to the determination of the Hermosa Village community to stay together and preserve their homes for years to come.” 

Hermosa Village Co-op Board Member's Brain Franks (signing) & Robert Kirby at the Signing Table

ROC USA Capital provided a first-position loan of $3,856,000 at 5.25 percent and a second-position loan of $1,500,000 at 2.25 percent. HomesFund provided a third-position loan of $1,000,000 at 3.75 percent, with additional support from Region 9 Economic Development and First Southwest Bank. 

An additional $80,000 in SB 22-160 grant funds, administered by Thistle, helped offset due diligence costs. 

“The successful acquisition reflects strong collaboration among residents, local partners, and the seller,” said Ryan Hanauer, Senior Manager of Acquisitions and Finance. “From the beginning, there was a shared commitment to securing the community’s future.” 

Now under resident ownership, Hermosa Village Cooperative will oversee governance, set lot rents, plan improvements, and make decisions locally. 

“Resident ownership takes commitment and steady leadership,” said Tim Townsend, Program Director for Thistle-ROC. “The Hermosa Village residents stayed engaged through a complex process, and their dedication has resulted in lasting housing stability.” 

Emily Thaden, President of ROC USA®, said the transformation of Hermosa Village reflects a broader trend. 

“What stands out about Hermosa Village is how quickly fear turned into leadership,” she said. “Ownership gives residents permanence, responsibility, and pride in shaping the place they call home.” 

Resident ownership has been gaining momentum across Colorado in recent years. In 2025 alone, six manufactured home communities transitioned to resident ownership, supported in part by Senate Bill 22-160 and related funding through the Colorado Department of Local Affairs. 

For the residents of Hermosa Village, the result is simple but powerful. 

The land beneath their homes now belongs to them. And that changes everything.