Over the weekend of Jan. 3-5, residents, neighbors and friends of the Pines Trailer Park were shocked by an announcement from the park owners.
It seems an email was received by residents in advance of a formal notice of the park’s closure.
A resident told The Islander Jan. 6 that the letter from the investors is the only communication they’ve seen from the owners since Helene and Milton and “it took them 100 days to send out something official.”
The resident whose name was withheld also commented: “The greed is out of this world.”
The owner/investors stated they regret the decision, but they also state in the letter that “Pines Park is no longer sustainable as a trailer park and must be closed.”
However, reading on, the owners write:
“Pending city approval, one option we are considering is allowing continued month-to-month tenancy for some residents … for up to a couple of years.”
Louis Najmy, speaking Jan. 6 by text for the Pines Park Investors, said “Like any business that suffers property being so badly damaged and the inability to generate any meaningful level of revenue, then it has to shut down and re-structure.”
He wrote in a another text message Jan. 10 that he had no further comment.
The undated letter was shared with The Islander by an unnamed resident, who said it came by email, follows:
Dear Pines Park Residents,
We are writing to you as a courtesy to provide transparency and keep you informed regarding the future of Pines Park. Over the past months, we have conducted extensive financial modeling and assessments to determine the viability of maintaining the park.
Unfortunately, we have come to the difficult conclusion that Pines Park is no longer sustainable as a trailer park and must be closed.
We deeply regret this decision and the impact it may have on each of you. Our sincere hope was to continue operating Pines Park, but external factors — including significant financial and safety challenges — have made this impossible. We wanted to ensure that you were not left in the dark as we move forward.
Official Notices and Next Steps
We will be distributing formal notices in the coming weeks, as required by state law. These notices will include all necessary legal information and details to guide you through this process. Along with these notices, we will provide agreements designed to assist you in transitioning out of the park, as well as information about resources available to support you during this time.
Additionally, pending city approval, one of the options we are considering is allowing continued month-to-month tenancy for some residents. This arrangement could extend up to a couple of years, depending on circumstances and the overall timeline for vacating the property.
Reasoning for the Closure
We understand the importance of explaining our decision and would like to share the key factors that led us to this outcome:
- Financial challenges: The park is operating at an unsustainable income level, with high delinquency rates (approximately 75%). While some residents have expressed concerns about amenities needing restoration, such projects—such as waterfront docks—would take years to complete and require significant investment. Combined with delinquency issues, it is not financially viable to operate under these conditions.
- Restoration and compliance: The required renovations for many units to meet the 50% rule for updates would involve considerable investment, which we are aware many residents are unwilling or unable to make, if permits were to even be issued. Additionally, the park’s compliance with fire codes presents a complex and costly challenge, as addressing one unit’s compliance issues often triggers a chain reaction requiring others to come into compliance.
- Resident concerns and safety: We have received numerous requests from residents wishing to relinquish their deeds, but as a property management team, we are not in the business of owning trailers. Furthermore, the park has faced yearly flooding and other storm-related damages that create unsafe conditions for residents and untenable liabilities for management. This, coupled with instances of harassment toward our team and city officials, has exacerbated the challenges of maintaining operations.
- Long-term viability: The cumulative impact of delinquency, loss of units, and the need for significant investments makes it clear that the park’s current model is no longer feasible. Additionally, management cannot continue to bear the risk of another storm coming and once again losing almost all income, all of which is essential to remain afloat.
Final Thoughts
We want to express our heartfelt apologies for the inconvenience and stress this decision may cause. Please, know that we are committed to supporting you through this transition and will provide all available resources to ease the process.
Thank you for your understanding, and please feel free to reach out to us with any questions or concerns. We will continue to communicate updates and ensure that you are fully informed every step of the way.
Pines Park Investors LLC
Editor’s note: The letter is attached to the story online at islander.org.