Description
LOCATION, LOCATION, LOCATION! NO MORE LEASED LAND!! In January 2025, the residents of Border Hill Mobile Home Park purchased the community, including the land underneath their homes. By purchasing their community, they’ve secured stability and affordability for generations while strengthening the growing movement of resident-owned communities in Rhode Island.
In the Border Hill Mobile Home Park, a resident-owned community cooperative (ROC), the land is owned collectively by the entire community. The Cooperative Development Institute (CDI) and the homeowners association purchased the entirety of the 16-acre community.Ownership Structure: Each resident owns a single membership share in the overall cooperative corporate entity.
What Each Share Represents: If divided purely mathematically across the park’s 52 home sites, each share effectively represents a fractional interest of approximately 0.31 acres of the collective property. Instead of a traditional real estate deed for the dirt, your membership share guarantees you a perpetual lease on your specific lot, giving you complete stability without individual land lines.
- Principal and Interest
- Property Tax
- HOA fee