Project Type: Attached and Detached Homes, For-sale below market rate
Total Units: 86 Units, (50 Detached, 36 Attached)
Typical Unit Size: 1400 sf Attached, 1550 sf Detached
Developer: Cal State Fullerton
Location: According to the university, University Gables is located approximately fifteen minutes from Cal State Fullerton, next to the award-winning Lakeside community, Los Coyotes Golf Course and a transit station (under construction) to provide local residents with access to mass transit via the Metrolink train system. University Gables has convenient access to a variety of educational, cultural, recreational and retail opportunities that reflect its special Southern California location.
Project Information: Units at University Gables are available to faculty and staff of Cal State University Fullerton. Although you own the home you purchase in University Gables, all the land on which University Gables is located is owned by CSU Fullerton Housing Authority.
As the homeowner, you will acquire a long-term leasehold interest in the land underlying your home, which will be subject to renewal upon certain stated conditions. As with any lease, you will be required to make ground rent payments pursuant to the terms of your Ground Lease. A prepayment will be required, coupled with an agreement on your part to pay CSU Fullerton Housing Authority stated future rent adjustments (subject to a cap).
To assure homes in University Gables remain available to and affordable by members of the University community, the Ground Lease includes certain restrictions. These restrictions limit the amount of the resale price you may receive, address continuing ownership eligibility and may lengthen the time required for selling a home in University Gables. Homes in University Gables must be owner occupied. You should carefully review the Ground Lease documents and these restrictions before buying a home in University Gables.
Planning Background: CSUF is in a high-cost housing area, and it is difficult for many CSUF faculty and employees to afford ownership housing near the CSUF campus. These circumstances make it more difficult for CSUF to recruit and retain faculty and employees, especially with respect to those in nationally recruited positions, such as faculty who could select a job at another institution in a location where housing is more affordable. Also, keeping employees near the CSUF campus fosters a sense of community and participation in CSUF activities.
Product Design: University Gables is Southern California Living, complete with shade trees and green parkways welcoming residents to a quiet neighborhood that immediately says, “You’re home.” The charming, detailed homes capture the classic beauty and richness of Craftsman and California Bungalow architecture while colorful landscapes and white picket fences embrace each home. University Gables also offers its residents a sparkling neighborhood swimming pool and a park where neighbors can socialize or find a quiet moment.