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| University Gables in Buena Park is an affordable housing community available to Cal Poly Pomona faculty and staff. |
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| Homes are equipped with quality appliances, fixtures and finishes, such as built-in bookshelves and ceramic-tile kitchen counters and entryway. |
Cal Poly Pomona and Cal State Fullerton have teamed up to offer affordable housing for faculty and staff. ?University Gables,? located seven miles away from Cal State Fullerton in Buena Park, is an affordable housing community that consists of 86 newly built attached and detached homes built on an 8-acre parcel of land.
Twenty-eight detached Craftsman Bungalow-style homes, complete with white picket fences, front porches and landscaped front yards, remain available for purchase. Designed by the award-winning architectural firm of Pekarek-Crandell, the homes vary in size from three to four bedrooms with two-and-a-half to three baths, and in price from $216,125 to $252,000. Similar new homes are selling for more than $400,000 less than one mile from University Gables, which will soon include a community swimming pool and cabana.
The homes come equipped with a wide range of quality appliances, fixtures and finishes, such as built-in bookshelves and ceramic-tile kitchen counters and entryway, and two-car garages.
While more than 200 faculty and staff have sought to purchase a home in University Gables, spousal income quite often causes them to be ineligible for consideration, according to Bill Dickerson, executive director of the Cal State Fullerton Housing Authority. Household income of each of the remaining homes is limited to 120 percent of the median income (or $90,700 for a family of four or $63,500 for singles) at the time of purchase.
Unlike traditional homeownership programs, the buyer will purchase the home and lease the land under the home from the Fullerton Housing Authority via a long-term ground lease. This will help to keep the initial sales price lower than the price if the land were being sold, and will help to ensure that homes remain owned by persons affiliated with Cal Poly Pomona and CSU Fullerton.
For more information on purchasing a home in University Gables, contact the sales manager Teri Cox at (714) 278-4663 or visit www.universitygables.com.
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| University Gables, located off of Malvern Avenue and Beach Boulevard, will soon include a community swimming pool and cabana. |