January 7, 2026
New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas today announced that tenants at Cascade Acres Manufactured Home Park in the town of North Elba, Essex County, formed a partnership with a local affordable housing developer to purchase the 165-unit Park from their landlord, ensuring the long-term affordability of the community. The residents successfully exercised a provision under New York State’s Right of First Refusal law to prevent the community from being sold to a private equity firm. The successful sale of Cascade Acres marks the first time the Right of First Refusal, signed into law in October 2023, has been exercised in the state.
“The Cascade Acres cooperative group shows what can be accomplished through strong will and determination,” said HCR Commissioner Visnauskas. “This purchase will help keep 165 units affordable in a community where it is sorely needed and creates an opportunity for the tenants to own their homes. This first-ever accomplishment would not have been possible without Governor Hochul’s steadfast support of manufactured home parks and their role as a critical source of affordable housing. We congratulate the new homeowners on their achievement and thank our partners for their commitment to preserving housing affordability.”
In March 2025, the Cascade Acres Homeowners Association was notified about the proposed sale to the out-of-state private equity firm that has a history of challenging Right of First Refusal efforts in other states. With the assistance of HCR, Office of New York State Attorney General Letitia James, and Town of North Elba Councilmember Emily Kilburn Politi, the residents of Cascade Acres quickly organized to take advantage of their right to match the purchase offer as authorized under the Right of First Refusal law. Brandon Montag, a Lake Placid resident and owner of another manufactured home park in the area, provided financial resources as the purchasing partner.
The purchase is supported by a $4.7 million loan from HCR’s Manufactured Home Advantage Program, a $420,000 loan from the Village of Lake Placid, a $1.6 million loan from Champlain National Bank, and an equity investment from Mr. Montag. Homestead Development Corporation partnered with the Homeowners Association to assist with administrative work required for the purchase. The Legal Aid Society of Northeastern New York provided legal services including legal information and training, financial assistance with eligible rental arrears, and representation for the homeowner's association as a group client.
The Right of First Refusal was signed into law in October 2023 by Governor Kathy Hochul as a tool of preserving affordability in manufactured home parks - a critical source of affordable homeownership, particularly in rural communities upstate. As is true at Cascade Acres, the tenant-led partnership with a local affordable housing developer will ensure the park remains affordable to low-and-moderate income homeowners, and that the community remains in excellent physical condition.
Attorney General Letitia James said, “New Yorkers throughout our state depend on manufactured home parks for an affordable and secure home. New York’s right of first refusal law gives manufactured home park residents the power to decide the future of their communities and puts them on a path to homeownership. I was proud to have helped Cascade Acres residents become the first tenants in our state to use this law to ensure their community remains an affordable place to live under their control.”
Town of North Elba Councilwoman Emily Kilburn Politi said, “We are incredibly proud of the residents of Cascade Acres for recognizing this opportunity and organizing to secure the future of their community. With Mr. Montag’s leadership, in partnership with New York State Homes and Community Renewal, Cascade Acres will see meaningful improvements that reinforce the importance of manufactured home communities as vital, affordable housing options."
Village of Lake Placid Mayor Art Delvin said, “We are happy that we were able to do our part to help out such a great cause and appreciate the fact that this will continue to allow lower income families the ability to have homes in Lake Placid.”
Cascade Acres Homeowners Association Board of Directors said, “On behalf of the Cascade Acres Homeowners Association, we extend our sincere appreciation to our residents, community partners, and local and state leaders for their collaborative efforts to preserve long-term housing affordability in North Elba. This initiative provides stability for the families who call Cascade Acres home and underscores the important role manufactured home communities play in meeting our region’s affordable housing needs.”
Nic Rangel, Executive Director of the Legal Aid Society of Northeastern New York, said, "This represents a tremendous victory for residents who were facing displacement when a private equity firm sought to purchase their community. While we're seeing a troubling decline in mobile home park availability across our region, this sale shows what's possible when we work together to protect these vital resources."
Taylor Sousa, Commercial Lender at Champlain National Bank, said, “Ensuring long-term housing affordability is essential to the strength of our communities. We’re proud to have played a role in a collaborative effort that will help preserve affordability at Cascade Acres and provide stability for the families who call it home.”
Brandon Montag said, “I’m extremely proud to be part of this process and thankful for the tremendous support from New York State, Champlain National Bank, the Village of Lake Placid, and the residents of the Cascade Acres community. This was a true team effort aimed at preserving and strengthening affordable housing in our community. We’reexcited about this partnership and hope it demonstrates what can be achieved when everyone works toward a shared goal.
Governor Hochul’s Housing Agenda
Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY 2023 Enacted State Budget, she implemented a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. Nearly 70,000 have been created or preserved to date.
Under the Governor’s leadership, the HCR has provided more than $1.8 billion for nearly 8,000 mortgages to first-time homebuyers and has financed more than 8,000 new homes for sale. Since Governor Hochul took office, New York created a statewide down payment assistance program that has provided over $60 million to 5,000 first-time homeowners, a $50 million program to assist eligible homeowners with emergency repairs, and a $90 million program to help affected homeowners recover from storms.
The FY25 and FY26 Enacted Budgets also strengthened the Governor’s Pro-Housing Community Program — which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, nearly 400 communities have received Pro-Housing certification, including the Town of North Elba and the Village of Lake Placid.