Residents acquire ownership of manufactured home community in Glenwood Springs for $4.5 million

Glen Valley Cooperative is Colorado’s thirteenth Resident Owned Community

Glen Valley Cooperative Board Members at Closing Signing - Left to right: Donna Barragan, Sam Philben, Leslie McCarthy

Whenever a mobile home park goes up for sale, there are a lot of unknowns. Leslie McCarthy, Resident & Board Operations Manager of Glen Valley Cooperative remembers some of the thoughts she had after learning her community was for sale. “A new owner of our mobile home park could mean lot fee increases, making it difficult for residents to continue affording the cost to live in the community. A new owner could also decide to redevelop the land […].” However, after learning 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). McCarthy continued, “We wanted to become a ROC so that we could keep the park affordable […] creating a secure and predictable future for our community.”

The process to purchase the community started in February 2025, and after a lot of work by community members and partners, the residents were able to complete the purchase on August 20, 2025. Bobby Sanderson, Glen Valley’s Board Secretary reflects on the journey to becoming Resident-Owned, sharing:

“We never would have been able to pull this off without the help from Thistle. They were patient with 5 newly elected board members who knew nothing about running a community. At the end of the process, we saw our community come together as a family.”

Manufactured home communities are often setup where the residents own their homes, however, they pay rent on the land their homes are on. Glen Valley was setup 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 am so grateful that I will not be losing my home to higher rent hikes or another owner kicking us out to put condos on our property!” said Glen Valley Board President, Sam Philben.

At the start of the process, the residents of the Glen Valley 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 long process which requires quite a lift on board members and residents to ensure a successful close.

"It has been a pleasure to assist them as they navigated through this process," remarked Townsend. "Their dedication has yielded positive results, and now they can celebrate accomplishing their objective of preserving their community as an affordable home for Glen Valley and Glenwood Springs families.”

Townsend continued, “From the first meeting, where the rent increase was looking daunting based on worst case scenarios to current day seeing the perseverance of the Board and the partnership from the City of Glenwood Springs, it takes a village to promote continued affordability for these residents. It truly is a reason to celebrate the collaboration between the City of Glenwood Springs and these incredible residents to ensure Glen Valley remains a long-lasting home for residents and families who need an affordable housing option.”

Elizabeth Chaney, Portfolio Impact Manager – Front Range at Thistle Community Housing, also praised the sellers’ desire to sell their community to the residents of Glen Valley Cooperative, noting that “offering ownership to the residents establishes a lasting impact, ensures ongoing affordability, and promotes shared strength within the community.”

Two levels of government played critical roles in making the Glen Valley Cooperative resident acquisition possible. The City of Glenwood Springs played a critical role in securing Glen Valley Cooperative as affordable housing, contributing $1.5 million to the acquisition of the community. Additionally, Thistle provided an $80,000 grant from the SB-22-160 revolving loan fund.

Bobby continued to share the positive impact becoming a ROC means to him, “Becoming a ROC allows us the affordability to continue living in a great community. Knowing that it is Resident-Owned, we no longer have to feel anxiety over the yearly rent increases or even worse, waking up to the news the park sold and everyone has to vacate. We all owe a big ‘thank you’ to Thistle ROC, ROC USA, and all their vendors who spent countless hours working to make this dream become a reality.”

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.

“Becoming a resident owned community is more than just purchasing land – it’s about residents taking control of their future and ensuring long-term affordability. The journey of Glen Valley Cooperative reflects the strength of community, collaboration, and the importance of preserving affordable housing in a rapidly changing market. By securing ownership of their land, these residents are not only protecting their homes but also creating a lasting legacy of stability, collective power, and opportunity for generations to come,” says Emily Thaden, Chief Executive Officer, ROC USA.