Hometown America Adds A Thousand Acres

EnterpriseNews reports from Massachusetts that Hometown America of Chicago has purchased Oak Point MHC in Middleboro, MA for $55 million, making it the largest real estate transaction in Middleboro history. The 1,000 acre 875 homesite community has homes clustered in neighborhoods, and includes a ballroom, exercise facility, and club house. Hometown Vice President William Glascott says the company intends to increase the homesites to 1,175, and notes, “Certainly there are changes with any management transition. Our goal is to limit disruption, maintain level services and possibly improve.” Residents of the over-55 community as well as town assessor-appraiser Barbra Erickson, former selectman and planning board member Lincoln D. Andrews, and one-time planning board member Joseph F. Freitas, Jr., all had high praise for former principal owner Gary Darman with hopes the new owner will be as supportive of the community. “We want to be involved with the community, and we will evaluate everything when the time comes,” says Glascott. Hometown owns other MHCs in Massachusetts: Leisurewoods in Taunton, Leisurewoods in Rockland, Oakhill in Attleboro, and Miller’s Woods and River Bend, both in Athol. Earlier this year Hometown sold 76 of its land lease communities (LLC) to Equity Lifestyle Properties, its Chicago competitor, for $1.4 billion.

(Photo credit: EnterpriseNews)

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