Homes designed, sized, and priced for Davis-based employees and UC Davis faculty and staff
A Community-Centered Housing neighborhood offers specific home designs, a variety of financing, real-life approach tailored to the amenity & financial capabilities of local employees. Based on its modest size, infill location, and site plan, Palomino Place presents Davis with an opportunity for a Community-Centered Housing Prototype.
The Ideal Prototype Neighborhood
It is a classic infill site with adjacent infrastructure along with existing homeowners who reasonably desire to protect their neighborhood and personal interests. Palomino Places’ design and layout have been thoughtfully conceived with a focus that is sensitive to adjacent homeowners’/neighbors’ expectations. Within each category of proposed Palomino Place homes are imaginative opportunities to assist purchasers and the City in achieving their housing goals beyond a typical land purchase. The size of the home is consciously formulated to meet the buyer’s financial capabilities with the cost to construct and ultimate sales price.
Palomino Place blends into the existing Wildhorse neighborhood. Complimentary designed homes will accommodate a wide range of family sizes and lifestyles, from first-time buyers to first and second move-up buyers.
Detached casitas will be provided on selected lots to meet changing needs for multi-generational housing, home office, teenager’s suite, or a rental apartment.
Infill, by its very location, allows residents to walk, bike, or take public transit to get where they need to go.
Palomino Place is Located:
- 1 mile from Harper Junior High School & Birch Lane Elementary School.
- One mile to Nugget Grocery Store.
- 1/2 mile to three popular parks.
With Davis Aquadarts (DART), Davis Aquatic Masters (DAM), and Davis Fencing Academy, Palomino Place provides land for an Aquatics and Pentathlon Complex.
Relieving existing City swim facilities from continued overuse.
Opportunity To Do Good
Within each category of proposed Palomino Place homes are imaginative opportunities to assist purchasers and the City in achieving their housing goals beyond a typical land purchase. The size of the home is consciously formulated to meet the buyer’s financial capabilities with the cost to construct and ultimate sales price.
Mimic the Aggie Village model:
This is where UCD, as independent investors, purchased the finished home then “land leases” the lot to its faculty and staff who own the home itself. A concept first created in California by the Irvine Company in Southern California.
Limited equity increases:
While common with government-subsidized “for sale” units, this practice is used less often in normal market-rate units. UCD applied this approach at Aggie Village to offer more affordable prices to later purchasers.
Down payment assistance to buyers from either a Private Equity company (common in Silicon Valley), the newly proposed City of Davis Housing Trust Fund, or a local public/private employer participation.
To ensure long-term availability for local employees receiving an employer subsidy, the employer may require a “first right to purchase” in the event of its resale for some period before the residence goes on the open market.
Restricting long-term rentals:
No retention by the purchaser of the property after vacating for use as a rental home. This restriction helps with maintaining inventory for future Davis employees and residents.
Continued owner occupancy:
Required by the purchaser, except for specific reasons and timeframes. The home must be sold to an owner occupant.