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Ground Lease : The University Hills Ground Lease

University of California, Irvine
Faculty and Staff Housing
    All homes in University Hills are located on lots owned by The Regents and leased through the Irvine Campus Housing Authority (ICHA) to individual homeowners. The land is subleased to the home buyer who elects one of three rent payment plans. Plans vary in the amount of monthly payment and percentage of appreciation paid upon sale as deferred rent.

    Certain requirements are imposed upon the sale and resale of a home to assure that University Hills homes remain available to and affordable by members of UCI's academic community.

  • A resale home must first be offered to the University, the faculty and then the staff

  • The resale price of a home is restricted to the sum of the seller's initial purchase price adjusted by the increase in certain indexes plus the appraised value of capital improvements

  • If circumstances of a homeowner's University employment change, he or she may no longer be eligible to own in University Hills

  • A home in University Hills may only be used as a principal residence