A mobile home park in Lafayette has sold for $3.8 million last month, records show.
Stanley Communities, led by Lafayette partners Kris Hodges and Michael Hyatt, bought the 14.48-acre, 109-space Oak Park Estates, 1717 Eraste Landry Road, for from the Kelley family, land records show. The group now owns 20 properties, 14 of which are in Acadiana.
The deal was the result of Hodges’ close friendship with the previous owner, who had owned it since the late 1990s, Hodges said. All of the homes there are owned by the residents.
“Our intentions are to maintain the status quo and look for area we can make improvements to the property,” Hodges said.
Mobile home usage has increased across the U.S. since the start of the coronavirus pandemic as a means of affordable housing amid the rising costs of buying or renting, reports indicate. The number of manufactured homes shipped out by in May 2022 was 31% higher than the year before, one report indicated.