Registration Form – Second Lottery

INTEREST LIST

There is a second random-number drawing (lottery) for the remaining homes that were not reserved in the first lottery held last year. In order to participate in the lottery, all faculty eligible to purchase a University Terrace home must complete and submit a registration form (interest list application). Faculty couples with dual eligibility may apply individually. Those first lottery participants who have reserved a single-family home are not eligible to participate in the second lottery. Those first lottery participants who have reserved a condominium home are eligible to participate in the second lottery if they are interested in a larger home. To find out what is available, call or visit the Information Center or go to the Interactive Map in The Community section of this website. All participants will be notified after the interest list application has been submitted and will receive a unique identifier. Interest List submissions are neither a guarantee of eligibility nor qualification to purchase. No priority will be given based on the timing of the submission. All entries will be verified by FSH and eligible participants will be notified when their application has been accepted. Applicants may withdraw from consideration prior to the lottery.

Registration for the interest list closed on May 19, 2017. The lottery results will be posted on May 26, 2017. More information regarding the purchase process is available here.

Welcome To

University Terrace

University Terrace is an integrated part of Palo Alto, just blocks from campus and within an easy walk to Palo Alto’s urban conveniences. The development features 112 condominiums and 68 single family homes. Add to that thoughtful design, outstanding amenities, refreshing open spaces, and a community with a strong common bond, and you’ve found your place to unwind, recharge, and feel right at home. Connect with your family and your community at University Terrace.

  • Green Living
    Green Living Sustainable & efficient
  • Amenities
    Amenities What you need, right here
  • Convenient
    Convenient To campus and town
  • Great Education
    Great Education For your kids
  • Distinctive design
    Distinctive Designs Find your style
Interactive Map Of The Community

Interactive Map Of

The Community

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Living in Palo alto

Living in

Palo Alto

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Connect to

Your Community

University Terrace is a “common interest” development. A common interest development is a community that combines individual interests with property held and managed in common. At University Terrace, there are individual ground leases for the condominiums, the single-family homes, and common areas. The common areas include the recreational facilities, parks, fitness center, community rooms, private roads and other common facilities, which can be used by the whole community. There are other common areas used only by the condominium residents.

Because there are common areas that are shared by some or all of the residents, a Homeowners Association is formed for the purpose of managing and operating the common facilities within the community. The Association also has a number of powers and duties related to the governance of the community, such as architectural review, enforcement of use restrictions and other responsibilities.

The Association, which is a nonprofit association, is run by a Board of Directors elected by the residents and subject to a Declaration of Covenants, Conditions and Restrictions (CC&Rs), the Rules and Regulations, and Bylaws, which have been approved by the California Bureau of Real Estate. A budget is adopted each year to cover the cost of the operation and maintenance of the common areas and establish a reserve for long term upkeep and restoration. Each resident will pay a portion of the cost to the Association as described in the CC&Rs through what is commonly known as HOA monthly dues. If a common area, such as a community room, benefits only the condominiums, then only the condominium units will pay the costs associated with that portion of the common area. The expenses that benefit only some of the residents have a separate budget referred to as a “Cost Center”.