Schachter: The cost of housing security is worth it

The cost of housing security … priceless?!

Cavern Springs mobile home park is between Glenwood Springs and Carbondale. It is the home of about 300 people and 98 homes-working families, seniors, children, and people with disabilities.

It is for sale for about $26,000,000. This pending sale has, perhaps, been somewhat overshadowed by three other mobile home parks for sale and in the process of becoming resident-owned communities.

These other mobile home parks will be owned by their residents, thanks to residents’ organization and efforts and the coordination of loans and grants from Thistle/ROC and valley governments and organizations. Cavern Springs has formed a co-op, and residents are seeking to become owners of their community. Thistle/ROC and various traditional governmental and nonprofit sources of assistance have been strained by prior successes and demands and are currently limited in assistance available to Cavern Springs. 

This mobile park represents both an urgent opportunity and a test of our valley’s commitment to workforce housing, housing stability, resident empowerment, and self determination and social justice. 

Mobile home communities offer some of the most affordable and naturally occurring workforce housing in our valley. Preserving workforce housing and providing housing stability is a high goal of all the communities and government entities in our valley. It is essential to the health and safety of our workers, the stability of our school system and finances, to shortening auto trips and commutes, to keeping the businesses and services we depend on-construction, landscaping, hotel and restaurant workers, health care workers, home services, and retail.

If Cavern Springs is sold to an outside investor, the outcomes are predictable. Rents will likely go up dramatically — often 40% in the first year and no ceiling year after year. Rents may become unsustainable for many, and residents will be severely housing cost-burdened and/or forced to move. Moving may likely mean a loss of equity in their home and housing instability and relocation out of the valley or a longer commute. If, with the assistance of a lender like Thistle/Roc thistlecommunityhousing.org/roc-communities and loans/donations/grants from others, Cavern Springs can be purchased by its residents, housing stability and affordability are likely. Yes, lot rents are likely to increase and there will be costs to bear, but the residents will manage the finances and rents of their park and not be subject to predatory increases or return on capital goals of outside investors. 

Time is running out and a resident offer must be made in weeks. $12,000,000 to $20,000,000 is likely needed to “save” Cavern Springs (with the help of Thistle/ROC). It is a huge ask and a risky one. But the benefits all outweigh the risks. With traditional sources of assistance strained, there may be other private and public resources. If there are any organizations, government entities, nonprofits, church and synagogue congregations, foundations, or philanthropists interested in impact investing as well as social justice and housing security benefiting those that help us live in and enjoy the Roaring Fork Valley, this is a time and reason to step up. Our valley must have the resources-somewhere, somehow. Recent real estate listings for a single home: $57,000,000; $24,995,000; $26,500,000; Cavern Springs — 98 homes, $26,000,000.

Please contact Maria Judith Alverez Quiroz at mariajudithalvarezq@gmail.com or Tim Townsend at ttownsendroc@thistle.us if you wish to help and to fund the resident purchase of Cavern Springs and help provide housing security to hundreds of our neighbors and workforce.

Sumner Schachter

Glenwood Springs