Why is Tucson so Anti-Growth? (Phoenix, Nogales: middle-class, 2014, homes)

[wildflowers27]

When outside investors come to Tucson, it can have unfortunate consequences. I read this article about a 41-year-old California guy who recently bought a senior citizens complex in Tucson and is raising the rents 52%, causing its older residents to have to move.

"Self-styled wealth guru Kevin Easterly of San Diego would be breaking the law in his home state if he bought an apartment building and imposed a huge rent hike on tenants.

But it’s perfectly legal in Tucson, where he and his partners have been playing a sort of real-life Monopoly game: buying and repainting aging apartment buildings, and raising rents 50% or more to boost the property’s value and refinance for more than they paid, public records and Easterly’s social media posts show.

Once featured in an Instagram video called “How to Flip Apartment Buildings,” Easterly recently partnered to buy a senior citizens complex at 1511 N. Craycroft Road that catered to older people on fixed incomes — until he raised rents by 52%.

“It’s a very sad place around here,” said former tenant Nan Abrams, 74, who spent the recent holidays packing up the one-bedroom unit she used to rent for $579 a month. She moved out a few weeks ago, a month after receiving a lease renewal notice that said her new rent would be $880, a $301 increase. Other tenants said they were forced out when management declined to renew their leases."

Jim Murphy, President of the Tucson Housing Foundation, said "Flipping senior citizen apartments “may be legal, but it’s certainly not moral”

https://tucson.com/news/local/califo...949b2ba69.html

[tijlover]

^^^

I thought we were the Blue Island of the Southwest!

Sad, sad story!

And mobile home parks are also flipped! Next owner, raise the lot rent! I was smart enough to move into one of the 2 mobile home co-ops in Tucson, where you're expected to do some volunteering, and I volunteer to do painting around here.

[steiconi]

Originally Posted by tijlover

^^^


And mobile home parks are also flipped! Next owner, raise the lot rent! I was smart enough to move into one of the 2 mobile home co-ops in Tucson, where you're expected to do some volunteering, and I volunteer to do painting around here.

How much more expensive is a co-op mobile home than one in a regular park?
I think it's a great idea. Years ago, my mom's park got sold and everyone evicted, so I refuse to buy in a regular park.

[tijlover]

Originally Posted by steiconi

How much more expensive is a co-op mobile home than one in a regular park?
I think it's a great idea. Years ago, my mom's park got sold and everyone evicted, so I refuse to buy in a regular park.

We've had an unusual number of deaths the past month, and not Covid related, so there's a half dozen homes for sale. You can still buy in here for less than $100k, $209 a month Association fees for a single, $219 for a double. You have to be approved by the Board to live here, a background check as well, but no biggie!

This park has its own well, so there's lots of green spaces around, lots of vegetation, and with this location you don't even need a car as Crossroads Festival is across the street.

The other mobile home co-op is Commanche Wells, near Rogers and Oracle.

I don't understand why there isn't more mobile home co-ops in Tucson. Existing residents go to a bank and arrange a loan and the park becomes a corporation.

Similar to co-op apartment buildings, as there's thousands of them in NYC.

[wildflowers27]

It does sound like a great idea. I like that your Board approves who lives there to weed out any sketchier characters. What do the $209/$219 association fees cover?

[tijlover]

Originally Posted by wildflowers27

It does sound like a great idea. I like that your Board approves who lives there to weed out any sketchier characters. What do the $209/$219 association fees cover?

Water and trash only! We have a community center, with meals available for all the holidays, $5, and Xmas dinner is free for everyone in the community. A community center with a nice library, meeting places for card games, bingo and a year round heated pool.

For me, being a convenience junky, the locations is worth $50k alone as I can either walk or bike to Trader Joe's or Fry's and a dozen restaurant offerings and the 9-screen Roadhouse Cinema, and cater corner to TMC.

[wildflowers27]

Originally Posted by tijlover

Water and trash only! We have a community center, with meals available for all the holidays, $5, and Xmas dinner is free for everyone in the community. A community center with a nice library, meeting places for card games, bingo and a year round heated pool.

For me, being a convenience junky, the locations is worth $50k alone as I can either walk or bike to Trader Joe's or Fry's and a dozen restaurant offerings and the 9-screen Roadhouse Cinema, and cater corner to TMC.

Water and trash plus heated pool and community center, green spaces, and $5 holiday meals, free Christmas dinner, and close proximity to shopping and TMC? Sounds like a hidden gem for seniors. Wonderful that your group created a co-op to preserve this. If more places had this, it would improve the golden years for many.

[tijlover]

This co-op was created way back in the 70's and the mortgage is almost paid off!

[steiconi]

Originally Posted by tijlover

This co-op was created way back in the 70's and the mortgage is almost paid off!

Wow, 50 years, that's a long mortgage.

[NoMansLands]

Another good thing about co-ops, no matter if regular condos or mobile homes, is that most don't allow "airbnb" style renting. That keeps them from turning into weekend party joints.
Some are flat out "no rentals allowed" and others have a month minimum, which the partiers aren't interested in (usually).
Keeps investors out who couldn't care less what it is like to live there.