Mountain Timber Estates – Kerby, OR
Clearinghouse CDFI (CCDFI) is aiding Ken and Cari Wegner’s efforts to improve and stabilize their Kerby, Oregon mobile home park. CCDFI’s $1,500,000 loan refinances existing debt and funds much-needed improvements to the park and coaches.
In 2020, devastating wildfires across Oregon left many residents without livable homes. To this day, many people find themselves living in tents or RVs. Mobile housing provides a solution for these residents. Mountain Timber Estates in Kerby, Oregon provides 58 spaces for mobile homes. Nearly all current residents of the park are low-income families or individuals.
Ken and Cari purchased the subject property when it was in disrepair and have been working to stabilize and improve it to provide a safer, healthier home for its residents. Today, the park continues to provide housing for low-income individuals that cannot afford the average costs of rent in the area.
Read the full story here: Just Funded – Mountain Timber Estates
Stabilizes and improves existing mobile home park in Oregon
- Refinancing of existing debt
- Reimburses borrower for capital expenditures already incurred
- Provides additional funds for remodeling of coaches
