Conversion to 55+ Park

[Lloyd]

Is anyone familiar with the procedure and legal restrictions/implications of converting a family park into a 55+ park? We are considering converting a family park into a 55+ park to create more stability (less turnover), reduce vacancy and build more of a "community feel."

[Chrissy Jackson]

This process is not permitted under federal law. Back in December, 1995, when HUD removed the requirement for community owners to provide significant services and facilities in order to be considered a 55+ community, HUD also later allowed a 1 year window of time for any communities who met the following criteria: (1) if you were established as an all age community just because you did not want to meet the significant services and facilities requirement, or (2) if you felt your market area was more suited to serving a 55+ age group, or (3) if you were close to meeting the 80/20 and felt that you couldmeet it within the one year time frame given. Then, during that time frame, you as a community owner could work toward becoming a 55+ community (meeting the 80/20 requirement) but could not evict current residents who did not meet the age requirement simply due to their age. At the end of this one-year period, which ended three or four years ago, HUD declared the conversion period over and does not now permit any all age communities to convert to 55+ communities. More information may be available through the Manufactured Housing Institute, Ann Parman, 800-505-5500.