Parklane Mobile Home Park residents buy a park in the Fort Collins area

Parklane Mobile Home Park residents finally own their real estate.

Residents of the park, located just outside the city limits in northeast Fort Collins, formed a nonprofit organization — United Neighbors/Vecinos Unidos — to help them purchase the park shortly after the owner told them it would go on sale in December, according to a news release of the nonprofit.

Sale is closed Monday. The park is located in the Fort Collins Growth Management District, off East Mulberry Street, north of the Best Western Kiva Inn and Charco Broiler Restaurant.

Nicole Armstrong, a member of the United Neighbors/Vecinos Unidos board of directors, said residents bought the park for $6.8 million, prompting a major investor.

The money came from multiple sources: Larimer County provided a $1 million revocable loan using US bailout funds; The Bohemian Foundation provided a loan of $2.8 million; Residents received a $3 million loan from the Impact Development Fund. Residents worked with neighboring nonprofits — The Genesis Project and Matthews House — to help secure funding and navigate the purchase process, according to the press release.

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