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Commission hears update on Folsom manufactured-home community; financing and down-payment barriers constrain uptake
Summary
Commissioners reported that a 72-unit manufactured-home community on Folsom Street has five occupied houses to date but faces buyer-financing barriers — particularly down-payment requirements — that limit immediate uptake.
Commissioner Scott Phillips and other commissioners described progress and financing challenges for a 72-unit manufactured-home community on Folsom Street discussed at the Jan. 8 Housing Opportunities Commission meeting.
Phillips said the development has completed site work and five homes are in place; the project team has been "soft selling" homes via signage while they finalize a marketing and financing plan. The community will offer homes with prices presented in the meeting in the mid-$100,000s to mid-$180,000s depending on model and whether a garage is included; Phillips described a three-bedroom, two-bath…
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