Residents of San Lazaro Mobile Home Park in Boulder County have 120 days — until July 18 — to use Colorado's purchase-right law to buy the park, which is listed for $42.5 million. A nine-person steering committee has formed and is pursuing state funds, local government support, private investors and nonprofit partners such as Thistle Community Housing. Experts say resident ownership can stabilize rents and preserve communities but requires strong management, realistic budgets and access to capital. City and county officials are supporting appraisal and facilitation efforts.
San Lazaro Residents Race To Buy Their Mobile Home Park For $42.5M — Deadline July 18
Homes are seen at the San Lazaro Mobile Home Park in Boulder County, CO, where residents hope to buy the park.(Google Earth)
Damien Teague has lived at San Lazaro Mobile Home Park in Boulder County, Colorado, for 18 years. On March 20 he and other tenants found a notice that the park was listed for $42.5 million — triggering Colorado's purchase-right law that gives residents 120 days to submit an offer. For San Lazaro, that window runs through July 18.
Neighbors Organize Fast
Teague, a medically retired Navy veteran who owns his manufactured home and rents the lot beneath it, says the news sparked immediate action. He posted community notices and helped form a nine-person steering committee to coordinate an effort to buy the park. While Teague mentioned the immediate worry of 212 households when he first saw the notice, the park is home to more than 800 residents overall — many of them long-term tenants.
'The next morning I was sitting on my back porch working with ChatGPT to explore my options, just feeling the stress of the unknowns,' Teague says. 'That stress, shared by so many neighbors, was enough to make us act.'
Local Government And Community Support
City and county officials have engaged with the residents. Sarah Huntley, director of communication and engagement for the city of Boulder, says city staff have met with residents and that Boulder City and County will jointly commission an appraisal. Boulder County communications staff confirm they are in talks with supporting organizations, including Thistle Community Housing, a nonprofit that helps communities transition to resident ownership.
Financing Options Under Consideration
The residents are exploring multiple funding sources: state programs such as the Colorado State Housing Board and the Colorado Department of Local Affairs' Mobile Home Park Acquisition Fund; grants and forgivable loans from local governments; private investors and donors; and nonprofit technical assistance from groups like Thistle. Organizers are studying a recent large-scale Colorado financing model in which two parks were acquired for about $42 million with a roughly $26 million loan supplemented by local-government forgivable loans and private contributions.
San Lazaro residents say they are fearful what would happen if a corporate entity purchased the property and either hiked up rents or shut the park down.(Google Earth)
Why Ownership Matters — And What It Costs
Residents say ownership would protect long-term tenants from abrupt lot-rent increases or redevelopment. Teague currently pays about $1,000 a month to rent his lot — roughly 40% below the U.S. median advertised rent reported by Realtor.com. Manufactured-home owners face high relocation costs: industry expert Glenn D. Esterson estimates moving a home can cost $10,000–$20,000 in many areas, making displacement especially burdensome for older or low-income residents.
Owner Response
The property is owned by San Lazaro Park Properties LLP, a Minnesota-based firm that has held the park since 1983. Attorney Brian Ray, representing the owner, told Realtor.com that the owner is willing to work in good faith with residents who wish to pursue a purchase.
Expert View: Benefits And Trade-Offs
Glenn D. Esterson, a manufactured-housing industry expert, notes that resident-owned communities have grown substantially in the last decade. He highlights examples such as the 2021 resident purchase of the nearby Sans Souci community for $3.3 million and the recent Roaring Fork Valley transaction financed with a mix of debt and public support.
Esterson says resident ownership can stabilize rents, improve home values, and give residents governance control. But he cautions that resident ownership transfers — rather than removes — operational and capital responsibilities. Many parks carry deferred maintenance, aging infrastructure, and rising tax and insurance costs at purchase. Success depends on realistic budgeting, solid management, and reliable access to capital from day one.
Community Resolve
Teague and the steering committee say they are preparing for those challenges and are determined to preserve the community. 'We're a true community,' he says, 'and we don't want to lose that.'
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