Lake Placid residents block private equity from buying Cascade Acres mobile home park

With the help of Homestead Development Corp, residents in Lake Placid recently used a new housing statute and millions of dollars in public financing to block the sale of their 165-unit manufactured home park to a private equity firm. It marks the first time the provision of the state’s right-of-first-refusal statute has been used since it became law in 2023. 

Read the full story from Adirondack Explorer: https://www.adirondackexplorer.org/community-news/housing/adirondack-residents-block-private-equity-buyout-of-mobile-home-park-in-ny-first/