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October 11. 2004

Income limits lifted for Laureate Court buyers; information session scheduled

By Louise Donahue

Thirteen Laureate Court Apartments--just across from the main campus entrance--will be sold by UCSC as condo units without income restrictions.

The Housing Office will have a briefing on Laureate Court sales from noon to 2 p.m. on Tuesday, October 12. Photo by Louise Donahue

UCSC bought the Laureate Court Apartments in 2002, and has been renting them out exclusively to faculty and staff.

The campus had planned to have income restrictions on the buyers, so that UCSC would be in compliance with city ordinances, said Steve Houser, faculty and staff housing manager. Setting aside some units for low-income people was part of the agreement with the city when Laureate Court was built as a private apartment complex, Houser explained.

Lenders were reluctant to face restrictions by both the university and city, however, so 13 rental units will be made available to low-income renters instead, Houser said.

A briefing on Laureate Court sales and other new housing will be held from noon to 2 p.m. on Tuesday, October 12, at the Women's Center near the base of campus.

The Laureate Court condos have two bedrooms and two baths, and include carports, decks, and a common swimming pool. Built in 1992, they are the newest UCSC faculty/staff housing units. Prices are expected to be from $262,000 to $272,000.

Houser said he is anticipating considerable interest in Laureate Court.

Staff and non-senate academics hired after July 15, 2003, are eligible to sign up for for-sale housing at any time. Those hired before July 15, 2003, were required to have enrolled for a campus housing lottery, but this requirement has temporarily been suspended.

Through November 30, these employees may apply for for-sale housing and have their names appended to a waiting list. Senate faculty may apply for the waiting list at any time.

Interested persons should contact facultyhousing@ucsc.edu for more information. (For details, see August 9 Currents article)

In the longer term, the campus will offer additional for-sale housing at Ranch View Terrace--originally called "Inclusion Area D." Ranch View Terrace, with 80 three- and four-bedroom homes, was approved by the UC Regents over the summer. (See Currents article) Construction is scheduled to begin this year, and is expected to take about 16 months.


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