Montrose residents acquire ownership of manufactured home community for $1.2 million

Sunny Jade Cooperative is Colorado’s 13th Resident Owned Community.

Curtis Milton Presenting to the members of Sunny Jade Cooperative at the Final Membership Meeting held on March 4th, 2025

Montrose, Colo.– Whenever a mobile home park goes up for sale, there are a lot of unknowns. Curtis Milton, Resident & Board President of Sunny Jade Cooperative remembers when he first heard about the sale, “When we received the letter that the park was going to be for sale, there was a lot of apprehension, and everyone was really scared that an outside investor was going to come in and move the park or raise the rents up. Then, finding out that we had the opportunity to purchase the park was a huge relief!”  Curtis along with his fellow neighbors learned about their options, the residents decided to come together to form a co-op and to buy the land turning it into a Resident Owned Community (ROC). Curtis continued, “Our community really banded together, and we aligned as a community with the purchase the property and the whole process with Thistle’s help has been really streamlined.”

The notice of the sale of the community was sent out in late 2024, and the residents were able to complete the purchase on March 24, 2025. Coral Dietrich, Secretary of Sunny Jade’s Board, recalls the beginning, sharing:

“It was intimidating at first for sure, but now that we have the votes at this final meeting, and everyone wants to purchase the park it’s an absolute relief and I’m excited for the future of our community.”

Manufactured home communities are often set up where the residents own their homes, however, they pay rent on the land their homes are on. Sunny Jade was set up this way, which can leave the homeowners susceptible to rent hikes and potential eviction, especially when the properties go up for sale. With the property now under their ownership, residents gained control over critical decisions, including rules, infrastructure projects, and lot rent pricing.

Keeping manufactured home communities' rents affordable is not a new concept. In 2020, Colorado legislation was enacted to offer residents in manufactured home communities the opportunity to purchase the land underneath their homes. The process to purchase the land and become a ROC still takes a large commitment from the community, however, the payoff is huge.

“I’m looking forward to the growth and stability of the community. Being able to allow more affordable housing for so many people within the area... we are veterans, elderly and low-income families, and then continue to try to advance and create more growth within the community is just truly something special,” said Dietrich.

At the start of the process, the residents of Sunny Jade Cooperative began a long and worthwhile collaboration with Thistle, a nonprofit organization located in Boulder, Colorado. Thistle guided them throughout the acquisition process and will offer ongoing technical assistance to the cooperative for the duration of the 10-year purchase loan. Tim Townsend, the Program Director, commended the community's dedication in a process which requires quite a lift on board members and residents to ensure a successful close. Townsend shared, "I'm thrilled to celebrate the incredible success of the Sunny Jade Cooperative! Their hard work, perseverance, and commitment to community ownership have led to a truly inspiring achievement. This milestone is a testament to the power of collaboration, and I look forward to seeing the positive impact it brings to the residents and the broader Montrose community."

Cody Minnich, ROC Portfolio Impact Manager – Western Slope - also praised the sellers’ desire to sell their community to the residents of Sunny Jade Cooperative, noting that “selling to the residents is a way to create a legacy that supports perpetual affordability, agency and collective power within the community.”

Milton shared the positive impact of what becoming a ROC means to him, “This final meeting, we had the whole community come together and everyone voted the same way and it’s super exciting to know that we have control of our futures and we don’t have an unknown future landlord that we have to deal with.”

Paul D’Angelo, Thistle’s CEO, expressed similar excitement as Milton: “I am so excited to welcome the Sunny Jade Community into our Thistle ROC Family! I am so grateful for all the work done here to get to Resident Ownership, not just from our amazing Thistle ROC Team but also from the engaged and passionate Sunny Jade Community Members who put their heart and soul into this partnership.”

Financing for the now resident owned community (ROC) was provided by ROC USA® Capital, a Community Development Financial Institution that focuses on providing financing to homeowners looking to purchase their communities. Financing includes funds not only to purchase the land, but also to make necessary infrastructure repairs or upgrades.  ROC USA Capital is a subsidiary of ROC USA®, a non-profit social venture that has been successfully scaling resident ownership of manufactured home communities for 14 years.

“The homeowners at Sunny Jade united to successfully navigate the path to resident ownership, supported by their dedicated partner, Thistle ROC,” ROC USA® President Emily Thaden said. “With every transaction, it remains remarkable to see the hard work pay off. I couldn’t help but notice that Sunny Jade became the 13th ROC in Colorado – and if 13 is a lucky number, this community did not need it. Their perseverance and heart make it clear: luck might help, but it’s the strength of resident leaders like Curtis Milton and Coral Dietrich, and their neighbors that truly makes the difference.”