Rolling into town
Real estate broker Keith Wilson stands on land being developed into a mobile home park near the Edmond city limits.
A mobile home park planned and platted in the mid-1980s is finally going in so close to Edmond it will take the city’s name, but they may not make a happy couple.
The 41-acre park, which will have nearly 200 mobile homes, actually abuts the Edmond City limits. It’s on the south side of Waterloo Road west of Coltrane Road.
Neighboring property owners organized to try to break up the plans, but couldn’t.
Nonprofit North Coltrane Community Association Inc. sued the seller and the state Department of Environmental Quality in state district court on Aug 14.
The plaintiffs claimed that the pending buyer’s planned sewer system didn’t meet the requirements of the 32-year-old plat. However, they withdrew the lawsuit and dismissed their claims on Aug. 31.
The park will have “city water and a jet aerobic septic system for sewage,” said broker Keith Wilson, who handled the sale of the property to Colorado investors earlier this month.
Wilson said it’s a great site for a mobile home park.
“It is not in the city of Edmond, but it abuts Edmond and you have very expensive residential subdivisions surrounding it,” he said. “It would be very difficult to get zoning for a park like this in the city of Edmond.”
Wilson said “Edmond” will be in the name of the park, which has homes ranging in value from $600,000 to $1 millionplus immediately to the west and south.
The buyer, Stonetown Edmond LLC of Glendale, Colorado, owns about 15 other mobile home parks in Oklahoma. The buyer paid $1,325,000, or $32,000 per acre, to Edmond development company Hiwassee80 LLC for the Waterloo Road site.
“The significance of this is that in Oklahoma, we really have had no new park construction since the late 1970s, with few exceptions,”
Wilson said. “We really have an asset class with no new construction in 40 years.”
Pad sites will rent for around $425 per month, the highest in the state, he said. The homes themselves either will be sold to residents who then rent the pads, or will rent from around $1,000 to $1,200 per month in addition to the pad rent.
“This will undoubtedly be the nicest mobile home park in the state of Oklahoma,” Wilson said.
“You’ll have new streets. You’ll have new landscaping. It’ll be curbed. You’ll have a community building with a swimming pool.
“We rate parks from 2 to 5. In Oklahoma, we don’t have any 5-star parks. We arguably don’t have any 4-stars, but you could make a case for a few. So we’re typically a 2- or 3-star, single-wide market. This will be, beyond a shadow of a doubt, the nicest park in Oklahoma, and it will be in that 5-star category.”