FOR IMMEDIATE RELEASE
San Francisco, CA – Community Vision Capital & Consulting (Community Vision), a leading Community Development Financial Institution (CDFI) focused on real estate, is pleased to announce the successful closing of a $3.4 million loan to Integrity Community Solutions (ICS), a wholly owned subsidiary of ROC USA. The loan facilitated ICS’s acquisition of the 84-site manufactured home and RV community in Columbia, Tuolumne County, California, supporting the retention of 54 affordable homes with planned growth to include 38 more.
The property, previously owned by a private equity investor, was in need of significant investment and clean-up. At the time of acquisition, only 64% of the home sites were occupied by rent-paying tenants. ICS has already begun improving the property for the 54 existing homes and is committed to revitalizing the community.
“We are thrilled to support ICS in completing this acquisition,” said Catherine Howard, President of Community Vision. “Affordable housing is critically needed throughout California, and this project will offer much-needed opportunities for low-income individuals and families to access safe, affordable housing. By financing the revitalization of this property, we’re helping to provide long-term stability for existing residents while expanding affordable housing options in the region.”
Immediate Improvements and First-Year Goals
Since taking ownership in mid-January, ICS has already begun implementing visible improvements. Immediate actions include removing nine abandoned homes, cleaning up debris, and making light-touch upgrades such as installing new signage and mailboxes. ICS is also collaborating with County Fire Officials to clear additional debris and reduce fire risks, while launching a comprehensive fire prevention program to engage the community in reducing fire hazards.
Long-Term Goals for Growth and Community Ownership
Over the next three to four years, ICS plans to place and sell approximately 22 affordable HUD-code manufactured homes and replace nine existing RV units with ten new one-bedroom park model units. The park model units, designed to look like homes but built on wheels, will offer a new affordable housing option for the community. ICS’s model aims to achieve 79 owner-occupied homes within five years—69 manufactured homes and 10 park model RVs. There is also potential to exceed this target potentially bringing the community’s total to 92 units.
Shared Equity and Community Ownership
In January 2030, when the community meets or exceeds 79 owner-occupied homes, ICS plans to offer homeowners a Right of First Refusal to purchase the community as a shared equity cooperative, utilizing ROC USA’s development services. This will allow the residents to collectively own the community, ensuring its long-term affordability and stability.
“We are proud to partner with ICS to help bring about this transformation,” said Howard. “By facilitating this loan and acquisition, we are supporting a model that not only improves the living conditions for existing residents but also creates lasting, affordable ownership housing opportunities for future generations. This project is a prime example of how community-driven development can address the critical need for affordable housing in California.”
Affordable Housing in High-Demand Region
With the median home price in the region currently at $459,000, the demand for affordable housing in the surrounding community is high. ICS’s efforts will help meet this demand by providing new, affordable homes priced at approximately $110,000 each, making homeownership accessible to low-income individuals and families in the region.
Additional Financing
At closing, ICS secured additional financing, which includes $786,000 in subordinate debt from four sources—lead participant Shared Capital, three family offices, and ICS equity. This combined financing will support ICS in carrying out its acquisition and revitalization plans, ensuring the community’s long-term sustainability and growth.
For more information, please contact:
Saul Ettlin
Senior Advisor
Email: settlin@communityvisionca.org
Phone: 415-392-8215
About Community Vision Capital & Consulting
Community Vision Capital & Consulting is a federally certified Community Development Financial Institution (CDFI) that provides financing and advisory services to organizations that are strengthening communities in California. Through strategic investments in real estate, community facilities, and nonprofits, Community Vision works to build equitable, vibrant neighborhoods. Since 1987 Community Vision has provided more than $613 million in financing and grant resources, leveraging more than $2.5 billion in additional investment.
About ROC USA
ROC USA is a national nonprofit organization dedicated to expanding homeownership opportunities through resident-owned communities (ROCs). By providing training, resources, and financial support, ROC USA helps residents of manufactured home communities become empowered, self-governed homeowners. With a focus on building strong, sustainable communities, ROC USA aims to increase access to affordable housing while promoting long-term stability and financial security for residents across the United States.
