This excerpt form a report published by Homes for Working Families provides a profile of an innovative employer sponsored housing program which offers shared equity homeownership to university faculty.
University Glen provides affordable for-sale housing to faculty and staff of California State University’s Channel Islands campus as well as market-rate rental housing. Priority is given to faculty and staff for the purchase of the for-sale housing. Houses are sold for roughly 65 percent of market value. Annual home price appreciation is capped at the Consumer Price Index (CPI) and the land is leased from the California State University— Channel Islands Site Authority.
Download the Profile.