AFFORDABILITY
University Gables has proven to be a significant advancement in California State University, Fullerton's landmark program to provide affordably priced housing for its faculty and staff. University Gables is a neighborhood that shows how powerful a public/private partnership can be, as it was created through a partnership formed between the CSU Fullerton Housing Authority, the City of Buena Park, County of Orange/Orange County Flood Control District and community developer Valeo Companies.

University Gables’ home prices are far less than surrounding communities because the land was donated by the County of Orange and the City of Buena Park, both of which have progressive programs to create affordable housing opportunities for county residents. These cost reductions are being passed on to buyers to make the homes more affordable for entry-level faculty and staff. Home prices range from the high-$100,000s for the attached homes and from the mid-to-high $200,000s for the detached homes.

INCOME RESTRICTIONS

As a condition of receiving the land from the City of Buena Park, this project has purchaser income restrictions. These restrictions require purchasers to be households with moderate income at the time of purchase. Moderate income is defined as earning up to 120% of the Orange County median income, with the dollar limit based on household size. Following are the current moderate-income limits:

Household Size (# of Persons)
1	2	3	4	5	6	7	8
$70,600	$80,700	$90,800	$100,900	$109,000	$117,000	$125,100	$133,200

In addition, the City has required that eleven of the homes be sold to low income families, defined as earning up to 80% of the Orange County median income. Again, the dollar limit varies with household size. Following are the project’s current low-income limits:

Household Size (# of Persons)
1	2	3	4	5	6	7	8
$52,100	$59,500	$66,950	$74,400	$80,350	$86,300	$92,250	$98,200

The income limits are revised annually, and will be updated yearly in late spring.