Middleboro seniors have 45 days to meet a $685,000 offer made by Lakeville developer Robert J. Poillucci II to buy Edgeway Mobile Home Park.
Andrew Danforth, director of Cooperative Development Institute, is working with the seniors who hope to buy the 52-unit retirement community.
Poillucci’s offer for the 41-acre park, is about $14,000 a lot, less than half the assessed value of $1.2 million.
It will take a majority vote of 26 tenants to buy Edgeway. Danforth said a CDI partner would back the purchase which would typically trigger a modest rent hike to pay off the loan. The loan would include necessary upgrades for the park. CDI has worked with over 30 mobile home communities in New England including Westwood Village in Plymouth where tenants bought their park for $3.8 million. CDI is also working with Twin Coach Estates, Edgeway’s sister community of 96-units in Lakeville, built by the same developer.
The park was built in 1986 and has been embroiled in health and zoning violations since 2003 when the late owner, Wayne W. Williams, was taken to task. For the last year selectmen held off slapping fines of $100 a day on the park in hopes it would be sold.
Over the years Edgeway seniors endured brown tap water, their forest clear cut to Interstate 495, unfinished roads and a host of other issues. The seniors lobbied long and hard to get the park finished, even picketing selectmen in the dead of winter.