Manufactured Home Park Acquisitions Pilot (MHPAP)
Manufactured Home Park Acquisitions Pilot (MHPAP) supports Virginia park residents and affordable-housing nonprofits in buying manufactured home parks to preserve affordable homes without displacing residents.
Funder: Virginia Department of Housing and Community Development
Due Dates: Rolling (while funds remain available)
Funding Amounts: Revolving loans up to $1 million and 80% of assessed property value; amortization up to 240 months
Summary: Loans help Virginia park residents and affordable-housing nonprofits acquire manufactured home parks and preserve residents’ housing.
Key Information: Acquisitions must not involuntarily displace any current park resident.
Description
The Virginia Department of Housing and Community Development (DHCD) runs the Manufactured Home Park Acquisitions Pilot to help resident associations and qualifying 501(c)(3) organizations buy manufactured home parks in Virginia. The pilot uses revolving loans to support resident or nonprofit ownership, preserve affordable housing, and keep existing homes affordable throughout the loan term.
The program prioritizes resident ownership and cooperative management while drawing on local and state resources for sustainable community development. It focuses on existing parks that are not already resident-owned; an acquisition cannot displace current residents or receive acquisition funding from another DHCD program.
