{"id":96059,"date":"2026-01-10T22:31:07","date_gmt":"2026-01-10T22:31:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/96059\/"},"modified":"2026-01-10T22:31:07","modified_gmt":"2026-01-10T22:31:07","slug":"cascade-acres-residents-take-control-secure-165-units-of-housing-in-north-elba","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/96059\/","title":{"rendered":"Cascade Acres residents take control, secure 165 units of housing in North Elba"},"content":{"rendered":"

Tenants\u00a0at Cascade Acres\u00a0Manufactured\u00a0Home\u00a0Park\u00a0in the town of North Elba in Essex\u00a0County purchased the 165-unit\u00a0park\u00a0from their landlord through a partnership with a local affordable housing developer, ensuring the long-term affordability of the community. The residents successfully exercised a provision under New York state\u2019s Right of First Refusal law to prevent the community from being sold to a\u00a0private equity firm. The successful sale of Cascade Acres marks the first time the Right of First Refusal, signed into law in\u00a0October 2023<\/a>, has been exercised in the state.\u00a0<\/p>\n

\u201cThe Cascade Acres cooperative group shows what can be accomplished through strong will and determination,\u201d said New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas. \u201cThis purchase will help keep 165 units affordable in a community where it is sorely needed and creates an opportunity for the\u00a0tenants\u00a0to own their homes.\u00a0We congratulate the new homeowners on their achievement and thank our partners for their commitment to preserving housing affordability.\u201d\u00a0<\/p>\n

In March 2025, the Cascade Acres Homeowners Association was notified about the proposed sale to an out-of-state\u00a0private equity firm that\u00a0has a history of challenging Right of First Refusal efforts in other states. With the\u00a0assistance\u00a0of HCR, Office of New York State Attorney General Letitia James\u00a0and Town of North Elba Councilmember Emily Kilburn Politi, the residents of Cascade Acres quickly organized to take advantage of their right to match the purchase offer as authorized under the Right of First Refusal law. Brandon Montag, a Lake Placid resident and owner of another manufactured home park in the area,\u00a0provided financial resources\u00a0as the\u00a0purchasing partner. \u00a0<\/p>\n

The purchase is supported by\u00a0a\u00a0$4.7 million loan from\u00a0HCR\u2019s\u00a0Manufactured Home Advantage Program, a $420,000 loan from the Village of Lake Placid, a $1.6 million loan from Champlain National Bank and an equity investment from Mr. Montag.\u00a0<\/p>\n

The Right of First Refusal was signed into law in October 2023 by Gov. Hochul as a tool of preserving\u00a0affordability in\u00a0manufactured\u00a0home\u00a0parks\u2014a\u00a0critical source of affordable homeownership, particularly in rural communities upstate. At Cascade Acres, the tenant-led partnership with a local affordable housing developer will ensure the\u00a0park\u00a0remains\u00a0affordable to low-and-moderate income homeowners, and that the community\u00a0remains\u00a0in excellent physical condition.\u00a0\u00a0<\/p>\n

\u201cNew Yorkers throughout our state depend on\u00a0manufactured\u00a0home\u00a0parks for an affordable and secure\u00a0home,\u201d said Attorney Gen. James. \u201cNew York\u2019s Right of First Refusal law gives\u00a0manufactured\u00a0home\u00a0park\u00a0residents the power to decide the future of their communities and puts them on a path to homeownership. I was proud to have helped Cascade Acres residents become the first\u00a0tenants\u00a0in our state to use this law to ensure their community\u00a0remains\u00a0an affordable place to live under their control.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Tenants\u00a0at Cascade Acres\u00a0Manufactured\u00a0Home\u00a0Park\u00a0in the town of North Elba in Essex\u00a0County purchased the 165-unit\u00a0park\u00a0from their landlord through a partnership…\n","protected":false},"author":2,"featured_media":96060,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7183,433,13946,3932,9,11,10,49,51,50,10495],"class_list":["post-96059","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-adirondack-almanack","tag-affordable-housing","tag-essex-county","tag-gov-kathy-hochul","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-new-york-state","tag-new-york-state-headlines","tag-new-york-state-news","tag-north-elba"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/96059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=96059"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/96059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/96060"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=96059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=96059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=96059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}