Minquadale Village, 600 Wildel Avenue, New Castle, DE
Service provided: Technical Assistance
Resident Purchase: July 2009
Owner: Minquadale Village Owners Association
Total Acquisition Cost: $2.1 Million
Financing/Lender: ROC USA Capital and NCALL
In July 2009, Minquadale Village Homeowners Association purchased their manufactured home community, Minquadale Village, for $2.1 million, thus securing the homes for the 84 families living there. It was the first purchase of its kind in Delaware under a law passed in 2008 which gives manufactured homeowners associations the right of first offer when the community’s owner decides to sell the property. Build with Purpose guided the homeowners throughout the process, helping them to incorporate so they could buy their community; securing financing through ROC USA Capital and NCALL; and managing the entire purchase process.