The City of Davis Affordable Ownership Housing Program offers an opportunity for income-qualified households to purchase a home locally at a below market cost. To qualify for this equal opportunity program, a household’s gross annual income cannot exceed moderate-income levels for Yolo County, calculated at 120% of area median income. Current maximum area median income (AMI) per household size for Yolo County can be found here.
In order to preserve these affordable housing units for the long term, the City has attached the following deed restrictions to each property:
- All owning members of the household must remain the owner occupants of the home at all times and must live in the home a minimum of twenty-four months before selling it.
- The sales price of the property is restricted to a 3.75% appreciation per year from its original date of sale, compounded annually. Southfield Park is the only exception with appreciation restricted to 5.5% per year.
- The resale of these units is overseen through a City program that matches up affordable units to qualifying households when the owner decides to sell. This program requires 1% of the sales price to be paid to the City or its designee to cover the program costs. As the program administrator, NeighborWorks receives the one percent.
This ownership affordable housing program is an opportunity for income-qualifying families to feel the peace of mind that home ownership brings.
New Opportunities For Affordable Ownership
Similar to market rate units, newly built affordable ownership units are purchased through the developer of the subdivision. To ensure fairness, the developer conducts a lottery to determine the order in which eligible applicants are given the opportunity to purchase an affordable unit. The lottery also provides incentives for local workforce, persons with disabilities, and seniors. Please note that applications may be submitted after the lottery, as long as units are still available. The following affordable housing development to begin construction soon is currently accepting applications. Follow the link below for information about these new units and how to apply:
Currently there are three new affordable ownership developments in progress. Please check with the developer for availability.
Please note: The City of Davis Affordable Ownership information lists are not waitlists.
Phase 2 of the BerryBridge project is underway. The remaining four affordable ownership homes of the 8-unit development will be completed in South Davis at 4100 Hackberry Place. All of the units in Phase 2 have a living area of 1536 square feet, with a 3 bedroom + 2-bathroom floor plan, selling for $405,177. Homes are being offered for those qualifying with 120% of median income.
- BerryBridge Bungalows Project Description Phase 2
- BerryBridge Bungalows Landscape Plan
- BerryBridge Bungalows Three Bedroom Units
Download the Application Packet for the Second Pre-Lottery:
Applications will be accepted until Monday November 13, 2017 at 5:00 p.m.
The lottery will take place on Monday November 20, 2017 at 5:00 p.m. in the Community Chambers at City Hall, 23 Russell Blvd. Applicants are not required to be present.
Questions about the project can be directed to the developer at firstname.lastname@example.org.
Grande Village Application Information
Fourteen affordable ownership homes will be built at the Grande Village site in North Davis. Of these 14 homes, 6 will be Middle Income (for households making no more than 180% of Area Median Income) and 8 will be affordable for the households at Moderate Income (120% of AMI).
The application period has closed.
Applications were accepted until February 17, 2017 at 5:00 p.m. Questions about the project can be directed to the developer at Fouts Homes: email@example.com.
Villages at Willowcreek:
Four affordable ownership homes will be built in South Davis, for households that do not exceed 120% of AMI. Per City Council direction, the affordable ownership process for this site is a pilot, and will be different than the process for Grande Village and Berrybridge, which will continue to use the standard lottery system.
The application period has closed.
Applications were accepted until December 27, 2016 at 11:59pm. Questions about the application can be directed to the Yolo County Housing: http://www.ych.ca.gov/, and questions about the development can be directed to the developer: http://willowcreekdavis.com/
Should you have questions in regard to the application process, or need assistance with your application, please contact Yolo County Housing.
Existing Affordable Ownership Units
Davis has five existing affordable ownership projects with a total of ninety-five units, while additional units are added to the program as future development occurs. The ninety-five existing affordable ownership units are currently owned and occupied by individual owners. However, the City of Davis possesses the right to match buyers to units when the owner is ready to sell, a right that NeighborWorks is exercising on the City’s behalf. NeighborWorks maintains a list of interested potential buyers and contacts the interest list when an existing affordable ownership unit is put on the market for resale. Submitting a program interest form to be placed on the interest list may be the first step to owning your own home at an affordable price.
- Willowbank Park
- Mahogany Lane
- Cassel Lane
- Parque Santiago
- Southfield Park
The process of buying a home is not very easy, but it is a worthwhile process. NeighborWorks has other services that include homeowner education and a down payment assistance program. If you are interested in this program or would like to be on the interest list for existing affordable ownership units please contact Leonor Perez at firstname.lastname@example.org or (916) 452-5356, Ext. 1230, if you would like more information.
Learn more about the Affordable Home Ownership Resale Program (PDF).
Other Affordable Ownership Housing Information:
Mortgage Programs Available to First-Time Homebuyers & Low-Income Individuals
- Fannie Mae - Home Ownership Resources
- California Housing Finance Agency - Homeownership Programs
- The Clearing Housing for Affordable Housing and Community Finance Resources
A search engine that will find programs offered in the area that meet your needs.