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.

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Frequently Asked Questions

Here are the answers to the most frequently asked questions

  • OVERALL COMMUNITY PLAN
    Q: Where is University Terrace Located?

    The property is located on California Avenue south of the Stanford University Campus and the College Terrace neighborhood, between California Avenue and Page Mill Road and just north of Hanover Street.

    Q: What is University Terrace?

    Built for Stanford faculty on the edge of Stanford's Research Park, this new development will offer 17 acres of residential housing and parks just blocks away from campus. With easy access to both green space and the restaurants and shops on California Avenue. University Terrace is a thoughtfully designed neighborhood featuring comfort, connection and convenience.

    Q: How many homes are in the University Terrace neighborhood?

    There are One Hundred Eighty (180) homes at University Terrace:

    1. 68 Single Family Homes of which 58 are Single Family detached homes and 10 are Single Family attached homes.

    2. 112 Condominiums in two 4-story buildings.

    Q: What is the timeframe for completion of the homes?

    The projected timeline for the completion of the homes will vary depending on construction phasing. There are ten phases of construction and the homes will be completed in order beginning with phase one. The current projections for home completion range from early 2017 and continuing through late 2018.

    Q: What homes are in each phase and what are the projected completion timeframes for each phase?

    Homes will be completed over time in accordance with the sequence of construction. They will be made available to buyers in groups, or phases, as certificates of occupancy are received from the City of Palo Alto and there is an unobstructed path of access to the homes. Phases will not all necessarily contain the same number of homes, and the timeframes of their availability will differ accordingly. A forecast of the approximate dates that phases may become available will be released as construction advances.

    Q: How can I buy a home at University Terrace?

    Prospective buyers are invited to register on the interest list in early March 2016. To register, visit the website, www.theuniversityterrace.com. The interest list will be open for at least 2 months to give eligible faculty enough time to learn about each home and to review the design details, location, availability, and pricing. A random-number drawing (lottery) will be held after the interest list closes and all interested participants are vetted. Only prospective buyers who qualify will be included in the lottery. The lottery results will be posted in rank order on the University Terrace website.

  • Amenities
    Q: What amenities are included in the Community?

    The community will have a full range of amenities including a lap pool with a spa surrounded by an expansive outdoor seating and lounging areas, a BBQ area for outdoor cooking and entertaining, a community building with an adjoining dining room that will be available for casual community activities as well as for private reservations, a centrally located Community Fitness Center, and approximately 1.4 acres of outdoor space incorporating a central park and two tot lots with play equipment.

    Q: Are there many trees within the community?

    Yes, there are existing mature trees that will remain in the community and many new street trees will be planted. A landscape plan will be available to review in the Information Center.

    Q: Where will my guests park when they come to visit?

    There will be guest parking spaces provided along the interior streets and adjacent to the condominium buildings. Over 100 guest parking spaces will be provided for the community.

  • Architecture and Design Styles
    Q: What principles guided the site layout and design of the University Terrace Community?

    The site layout was designed to maximize the efficient use of the land and accommodate features found within sustainable neighborhoods. For instance, considerable attention was paid to enhancing the open space and outdoor experience of residents. The resulting "cluster" configuration of the site allows for the higher density condominiums and the lower density single family homes situated around pedestrian-oriented common areas, including a central open park, pool and spa, BBQ area, community building, fitness facility, and tot lots. A number of the homes are oriented around shared private courtyards. Shared private drive courts minimize driveway curb cuts and paved areas. The architecture and layout of the homes create the same sense of neighborhood blocks that occur in College Terrace. In addition, similar street setbacks and height limits mirror the surrounding neighborhood.

  • Pricing
    Q: How is the initial purchase price determined?

    The prices for the homes reflect home prices available for comparable residences in the marketplace adjusted for the impact of the restrictions on the ground lease.

    Q: When will the prices for the homes be determined?

    Price ranges will be available when the website launches and the prices for individual homes will be released prior to home selections.

    Q: Will the prices change over the course of the construction phases and sales releases?

    No, once the prices have been announced, they will not change.

    Q: How will the price of my home be determined when the home is sold back to Stanford?

    The amount that Stanford will pay will be the lesser of (1) a value capped by an annual rate of appreciation, which is set at the time of purchase, or (2) a value that reflects current market conditions of comparable homes in the area and adjusted to reflect the impact of the restrictions on the ground lease.

  • Sustainability
    Q: Is my home and neighborhood "green" or "sustainable?"

    The University Terrace neighborhood was designed with sustainability in mind, using the land, energy, water and other natural resources efficiently to promote a high quality indoor living environment and a livable and walkable community. Both the condominium homes and single family homes at University Terrace are all pursuing LEED for Homes certification from the USGBC.

  • Privacy
    Q: How private is this community?

    "Good-neighbor" fences and gates create a sense of privacy for each home and for the community, providing visual cues to non-residents that the community is not "open to the public."

  • Timeline
    Q: When will the Interest List open for registration?

    Eligible faculty can register now on the website, www.theuniversityterrace.com.

    Q: How long do I have to register on the interest list?

    The interest list will be open for registration through May 27th, 2016.

    Q: When will the results from the lottery be posted on the website?

    The results will be posted on June 6th, 2016.

    Q: When are the purchase contracts going to be written?

    Appointments to begin contract signings will begin in the Fall of 2016.

    Q: When will my home close?

    Closings will begin in early 2017 and continue through late 2018. Closings timelines will depend on your home selection and the corresponding construction phase.

    See more about the Purchase Program.

Condominium Homes
  • Amenities
    Q: What amenities are specific to the condominiums?

    The condominium homes will have a private community room, library, bicycle storage and individual private storage lockers.

    Q: How many parking spaces will I have?

    Each condominium home will have 2 parking spaces located in the gated underground parking garage.

    Q: What are the parking rules?

    Each homeowner may have up to two vehicles parked within the project on a regular basis. Each condominium homeowner will be assigned two parking spaces in the underground parking garage of their building. These two parking spaces will most likely not be adjacent to each other.

    Q: How many bicycles can I leave in the garage and is it secure?

    Bicycle storage is available in the garage on a first come, first served basis. Owners are responsible for ensuring their bicycles are properly secured in the garage. The HOA does not provide any guarantees against bicycle theft.

    Q: Is there any additional storage provided?

    Each condominium home will be assigned an individual storage locker located in their building. This locker may be in the underground garage.

  • Architecture and Design Style
    Q: What is the architectural style of the buildings?

    The two condominium buildings are designed in a contemporary style.

    Q: What is the design style for the interiors?

    The interiors have been designed in two contemporary design palettes. The condominium homes will have two color schemes (Sol) and (Luna). See more information on the condominium section of this website.

    Q: Do the condominium homes have patios?

    Yes, each condominium home has its own private patio or balcony.

  • Home Types / Features / Sizes
    Q: How many different types of condominium homes are available at University Terrace?

    The condominium homes are predominantly single level homes and range from 2-bed/2-baths to 4-bed/3-baths (there are 4 condominiums that have two levels). The majority of the condominium homes will range from 2 – 3 bedrooms with 2 bathrooms. Square footages will largely fall between 1,000 sq. ft. for the 2 bedrooms and 1,470 sq. ft. for the 3 bedrooms. The condominium building at 2600 Columbia Street will include two (2) two-level units with four bedrooms and 3 bathrooms and will be approximately 2,400 sq. ft. See more specific information on the condominium section of this website.

    Q: What features are included in the homes?

    Each home comes with high-quality finishes, including quartz countertops, oak or walnut cabinets, hardwood flooring in the entry, great room, kitchen, and hallways, and tile baths. All homes have air conditioning. A list of features is located in the condominium section of this website.

    Q: Are window treatments included in my home?

    No, window treatments are not included. There will be specific guidelines for window treatments for the condominium homes.

    Q: What are the sizes of the condominiums at University Terrace?

    The condominium homes range in size from approximately 1,000 sq. ft. to 2,400 sq. ft.

    Q: Will there be selections for options or upgrades to the home?

    No, there will be no options or upgrade selections or modification to the plans for any of the homes. Any desired changes to the plans must occur after the close of escrow on the home.

  • Pricing
    Q: What are the prices of the condominiums?

    Prices will range from $800,000 to $1,400,000. Individual prices will be announced prior to home selection.

  • CCR's/Rules and Regulations
    Q: What are the CCR's and Rules and Regulations?

    The Declaration of Covenants, Conditions, and Restrictions together with the Rules and Regulations are the governing documents for the condominium homes. They provide rules for use, restrictions, maintenance responsibilities and architectural control.

    Q: What are the Rules and Regulations for the Community?

    The Rules and Regulations and Architectural Guidelines provided by the HOA assist in establishing protocols applied in governing the use of your residence.

  • HOA
    Q: What do the HOA dues cover?

    Each member of the homeowners association is required to pay monthly assessments to the association. Each member of the association pays for the maintenance and operating expenses of the common areas shared by the whole community and the condominium homeowners pay an additional monthly assessment for the maintenance and operating expenses of the common areas that benefit only the condominiums. The monthly assessment includes a contribution to a reserve account for future maintenance and capital costs.

    Q: How do I join the Homeowners Association?

    Each Lessee at University Terrace becomes a member of the homeowners association when the purchase transaction is complete.

  • Utilities
    Q: What utility costs do the condominium owners pay for and what utility costs are included in the HOA dues?

    Condominium owners pay for their electric and gas usage costs. Water, sewer, garbage and recycling costs are included in the HOA dues. Electric, gas, water, and sewer are all provided by the City of Palo Alto Utilities. Garbage and recycling is provided by Greenwaste of Palo Alto.

    Q: Are the homes wired for communications and data?

    The homes are fully wired with phone and data cabling systems. For more information about residential communication services and rates, you will have to contact your desired provider. Residents at University Terrace have the choice of either AT&T or Stanford University IT as providers.

  • Improvements
    Q: Do I need approval for improvements that I want to make to my home?

    Yes, all improvements must be approved by the HOA and by Stanford. Any improvement requiring a building permit will also require approval from the City of Palo Alto.

  • Controlled Access
    Q: What kind of controlled access will there be at the condominium buildings?

    Controlled access will be provided at the condominium buildings in the form of a fob system to allow access into the building via the front entry and underground garages.

Single Family Homes
  • Amenities
    Q: What amenities am I paying for with my monthly HOA payment?

    The single family homes will enjoy the community amenities. The community will have a full range of amenities including a lap pool with spa, surrounded by an expansive outdoor seating and lounging area, a BBQ area for outdoor cooking and entertaining, a community building with an adjoining dining room that will be available for casual community activities as well as for private reservation, a centrally located Community Fitness Center, and acres of outdoor space incorporating a central park and two tot lots with play equipment.

    Q: What does my monthly HOA payment cover?

    The HOA fee covers the maintenance and operating expenses of the common areas shared by the whole community. The monthly assessment also includes a contribution to a reserve account to be used for future maintenance and capital costs.

    Q: How many parking spaces will I have?

    Each home has a 2-car garage and some homes have parking available in the driveway apron.

    Q: Are the homes accessible to those with disabilities?

    Most homes are two-story. However, care has been taken during the design process to minimize the need for steps up to the first floor of the homes. The first floor of many of the homes can be accessed directly from the sidewalk without a step or ramp. The half bathrooms on the first-floor of the homes are sized to accommodate wheelchair access.

    Q: Is there available storage space?

    Each single family home has a generous two-car garage, with room for storage and bicycles. Each master bedroom suite has a large walk-in closet, and each secondary bedroom has an ample-sized closet. There is a coat closet on the first floor of every home. Significant storage space can be found under the stairs in some floor plans. Each home has a separate laundry room, providing opportunities for additional storage.

  • Architecture and Design Styles
    Q: What do the homes look like?

    The architect for University Terrace designed several architectural styles that reflect the bungalow cottages in College Terrace and greater Palo Alto with respect to scale, proportion, detail and color. Some of the architectural styles at University Terrace include Craftsman, Spanish, Contemporary, and European. The homes include such features as front porches, French doors, and roof gables. Eighteen different exterior color palettes compliment the architectural styles. See the front elevations for each house in the single family section of this website.

    Q: What are the different types of interior designs in the homes?

    The interiors have been designed in three design palettes, each of which complement the various exterior styles of the homes. The three schemes are Contemporary, Traditional, and Spanish. See more information in the single family section of this website.

    Q: Will there be selections for options or upgrades to the home?

    No, there will be no options or upgrade selections or modification to the plans for any of the homes. Any desired changes to the plans must occur after the close of escrow on the home.

    Q: Are the window treatments included in my home?

    No, window treatments are not included.

  • Home Types/Features/Sizes/Lot Sizes
    Q: How many different types of single-family homes are available at University Terrace? 

    Of the 68 single-family homes, 58 are detached homes and 10 are attached homes. There are several different plan types and exterior styles. For more information, please see the single family section on this website.

    Q: What features are included in the homes?

    Each home comes with high-quality finishes, such as quartz countertops, maple or cherry cabinets, hardwood flooring in the entry, great room and kitchen tile entries and baths, and carpeted bedrooms. All homes have air conditioning. A list of features is located in the single family section of this website.

    Q: What are the sizes of the homes at University Terrace? 

    The 58 detached homes range in size from 1,800 sq. ft. to 2,900 sq. ft., and the 10 attached homes range in size from approximately 1,900 sq. ft. to 2,200 sq. ft.

    Q: What are the sizes of the lots at University Terrace? 

    The lot sizes for both the detached and attached single-family homes range in size from 2,600 sq. ft. to 7,600 sq. ft.

    Q: Are the lots for single-family homes on flat or sloped lots?

    The lots for the single family homes vary – some may be relatively flat while others may slope or have retaining walls.

  • Pricing
    Q: What are the prices of the single family homes?

    Prices range from $1,200,000 to $1,800,000. Individual prices will be announced prior to the home selection.

  • CCR's/Rules and Regulations
    Q: What are the CCR's?

    The Declaration of Covenants, Conditions, and Restrictions together with the Rules and Regulations are the governing documents for the condominium homes. They provide rules for use, restrictions, maintenance responsibilities and architectural control.

    Q: What are the Rules and Regulations for the Community?

    The Rules and Regulations and Architectural Guidelines provided by the HOA assist in establishing protocols applied in governing the use of your residence.

  • HOA
    Q: What do the HOA dues cover?

    Each member of the homeowners association is required to pay monthly assessments to the association. Each member of the association pays for the maintenance and operating expenses of the common areas shared by the whole community and the condominium homeowners pay an additional monthly assessment for the maintenance and operating expenses of the common areas that benefit only the condominiums. The monthly assessment includes a contribution to a reserve account for future maintenance and capital costs.

    Q: How do I join the Homeowners Association?

    Each Lessee at University Terrace becomes a member of the homeowners association when the purchase transaction is complete.

  • Private Outdoor Space
    Q: Are there privacy fences for the single-family homes?

    Yes, each home has a good neighbor private fenced outdoor space.

    Q: Do the homes have private yards?

    Yes. Each single family home has a small private fenced yard, and some homes offer a second private fenced side yard.

    Q: Will my front yard be fully landscaped?

    Yes, all single family homes will have landscaped front yards.

    Q: Do I have to maintain the front yard?

    Yes, each single family homeowner will be responsible for the maintenance of their front and back yards.

    Q: Will the backyard be landscaped?

    The backyard will not be fully landscaped, though there will be some ground cover. Some backyards may have trees.

    Q: Do I need to get approval for changes or improvements to the landscaping?

    Yes, all changes or improvements to the landscaping must be approved by Stanford.

  • Utilities
    Q: What utility costs do the single family homeowners pay for?

    Single family homeowners are required to pay electric, gas, water, sewer, garbage and recycling, telephone, cable, and internet services. Electric, gas, water, and sewer are all provided by the City of Palo Alto Utilities. The garbage and recycling services are provided by Greenwaste of Palo Alto.

    Q: Are the homes wired for communications and data?

    Yes, The homes are fully wired with phone and data cabling systems. For more information about residential communication services and rates, you will have to contact the service provider. Residents at University Terrace have the choice of either AT&T or Stanford University IT as providers.

    Q: How is mail delivered?

    Cluster mailboxes for USPS mail delivery will be installed in various locations throughout the single family home community.

  • Improvements
    Q: Do I need approval for improvements that I want to make to my home?

    Yes, approval is required for all improvements made to single family homes. There may be multiple approvals required. In most cases, you will be required to obtain approval from the Architectural Committee of the HOA and from Stanford. Any improvement requiring a building permit will also require approval from the City of Palo Alto.

Q: Who is eligible to purchase a home at University Terrace?

Certain faculty who are members of the Academic Council and who are first time homebuyers, and who have not owned a detached single-family home within the Qualifying Area in the three years prior to receipt of a written offer of employment from Stanford are eligible to purchase a leasehold interest at University Terrace. Additional conditions of employment will apply. To learn more about eligibility to purchase at University Terrace, see the Eligibility section of this website.

Q: What happens if my position changes at Stanford and I am no longer a member of the Academic Council?

The home must be sold back to Stanford within one (1) year.

Q: What does a first time homebuyer mean?

A first time homebuyer is someone who has never had an ownership interest in a residential property located within the Qualifying Area in the three years prior to receipt of a written offer of employment from Stanford.

Q: What is the Qualifying Area?

Stanford University housing purchase programs may be used for the purchase of property within a particular geographic area, shown on the map.

Q: What is a disclosure?

California law requires that certain information be provided to all home buyers prior to the completion of a purchase transaction. This information, which must be in writing, is referred to as the disclosure documents. The disclosures cover many aspects of the property and differ by property type. The disclosures are important documents, which should be reviewed carefully by a potential buyer.

Since University Terrace is a new development, Stanford as the developer of the property, will apply for and obtain a public report from the California Bureau of Real Estate. This public report will contain information regarding utilities, water, roads, soil and geologic conditions, zoning, use, hazards, the lease, and information about the homeowners association, the assessments, the budget, which includes reserves, and the governing documents. In addition to the disclosures, which are specifically required by law, the buyer should receive essential information about the property that could affect the decision to purchase.

The Public Report and other disclosures will be available at the Information Center.

There are two additional important documents to review and understand prior to registration for the interest list. They are the Restricted Residential Ground Lease and the Environmental Disclosure.

  • Restricted Ground Lease
    Q: What is a restricted ground lease?

    The restricted ground lease program was designed to help address the challenge of finding affordable housing in the area surrounding the campus. By restricting certain rights of Lessees, Stanford is able to offer long-term leaseholds at a lower price than a conventional leasehold interest or outright ownership of an otherwise comparable home. To learn more about the restricted ground lease program. See the Ground Lease section of this website.

    Q: Where can I get a sample copy of the restricted ground lease?

    A sample-restricted ground lease is available from Faculty Staff Housing by phone (650)725-6893 or by email to fshousing@stanford.edu.

    Q: Do University Terrace residents pay ground rent?

    No, the ground rent is prepaid and incorporated into the purchase price.

  • Environmental
    Q: What regulatory agency is overseeing the work?

    The California Environmental Protection Agency, Department of Toxic Substances Control (DTSC) is the regulatory agency responsible for overseeing and approving this work (www.dtsc.ca.gov).

    Q: What previous operations were conducted at the site?

    Historically, manufacturing of electronic equipment and research and development operations occurred at the site. In addition, tech companies operated intermittently in former office buildings.

    Q: What environmental investigations were performed at the University Terrace site?

    As part of its due diligence, Stanford performs Phase I environmental analyses for all of its properties intended for development. For the University Terrace project, Stanford retained Haley Aldrich, a nationwide licensed environmental engineering firm with extensive experience assessing and remediating contaminated sites, as well as Dr. Paul Johnson, a recognized expert in environmental issues, to perform a peer review.

    The first environmental investigation of the University Terrace site was performed in 2004 as part of the Environmental Impact Report (EIR) for the 2005 Mayfield Development Agreement between Stanford and the City of Palo Alto. Similar to properties throughout Silicon Valley, the environmental investigation found residual chemicals in soil from historic site operations in some portions of the site. A Mitigation Monitoring and Reporting (MMRP) plan was adopted as part of approval of the EIR and Development Agreement that stated that environmental conditions would be fully investigated and addressed during future site redevelopment activities. Pursuant to this MMRP, further investigations of the soil and groundwater were performed at the site from 2012 to 2015. Stanford has fully remediated some areas and has proposed a plan to address the remaining area.

    Q: What were the findings of the environmental investigations?

    The University Terrace property is comprised of three parcels: 1451, 1501 and 1601 California Avenue. The Phase 1 environmental assessment performed for the 1451 and 1501 California Avenue parcels identified no environmental conditions precluding residential development. Stanford received environmental clearance from DTSC in the form of No Further Action letters allowing for residential development for these parcels.

    The Phase I environmental assessment performed in 2004 on the 1601 California Avenue parcel identified low levels of polychlorinated biphenyls (PCBs) and volatile organic compounds (VOCs) in subsurface soils. Stanford performed a Phase II environmental evaluation and human health risk assessment in 2015 when the last commercial lease for the property expired and the building slab was removed. During this evaluation, PCBs were found in shallow soil underneath the building and surface parking areas and TCE was found in soil gas (the air spaces in between particles of soil) within the central portion of the property beneath the demolished building, primarily at depths of 15 to 25 feet below the ground's surface. Stanford is working with DTSC to address these historic environmental conditions on the 1601 California Avenue parcel.

    Q: What are PCBs and TCE?

    According to the US EPA, PCBs are a class of manmade chemicals that were used as coolants and lubricants in electrical equipment due to their non-flammability, chemical stability, high boiling point, and insulating properties. PCBs were banned in the United States in 1979 but remain in the environment for a long time.

    TCE is a volatile organic compound that was historically used in dry cleaning operations and as a degreaser in manufacturing operations. TCE is found in ambient air quality in the Bay Area and in everyday consumer household products (e.g. adhesives, dry cleaning, paint removers, etc.)

    Q: Can these conditions be mitigated to enable safe living conditions?

    Yes – environmental issues related to historic property operations are commonly mitigated clearing the way for site redevelopment. Typically, PCBs adhere to soil particles and the most effective way to remove them is to excavate the soil and dispose of it at an appropriate landfill. In contrast, TCE vapor is difficult to remove. Although soil gas vaporizes safely in open air, it can get trapped underneath a building's foundation and find its way through cracks and holes into the structure itself, potentially impacting indoor air quality (a process called vapor intrusion). Appropriate and acceptable measures to mitigate vapor intrusion in the near term include: sealing potential conduits where vapors may be entering a building; installing engineered vapor barrier systems underneath a building's slab; installing soil vapor extraction systems outside of buildings, depending on site geology; or locating buildings sufficiently away from elevated soil gas locations.

    Q: How did Stanford address PCBs found at the site?

    In 2015, prior to site grading activities, Stanford hired and retained Haley Aldrich, a licensed environmental engineering firm, and Bayview Environmental Services, a licensed hazardous waste contractor to remove soil-containing PCBs from underneath the demolished commercial building and eastern parking lot. Soil removal work was only considered complete once sampling confirmed there were no additional PCB impacts above allowable levels at the bottom of excavation surfaces and along excavation walls. Stanford has documented this work in a report entitled Remediation Completion Report – Excavation of Soil Containing Polychlorinated Biphenyls, which has been submitted to DTSC for review and approval. DTSC approval is anticipated in the first half of 2016.

    Q: Is it possible that PCBs could have spread off-site and onto neighboring properties?

    As part of its Phase I and II environmental assessments, off-site sampling was conducted at both 1451 and 1501 California Avenue which showed the extent of PCB impacts was limited to the 1601 California Avenue site and had not spread to neighboring properties.

    Q: How is Stanford addressing TCE in the soil?

    TCE above residential screening levels has been found in isolated areas at 15 to 25 feet below the ground's surface. Given the depth where impacts are found, exposure to TCE is highly unlikely; however, under certain conditions, TCE can move as vapors through soil. If vapors move under a structure, it is possible for them to pass through cracks and other openings in a building's structure, potentially impacting indoor air quality (a process called vapor intrusion). TCE is not a concern in outdoor environments, as the compounds naturally dissipate once they reach open air.

    Stanford has proposed mitigating the risk of TCE vapor intrusion to levels below those that allow for residential development using several proven measures. These include placing up to 15 feet of clean and compacted soil over areas where elevated TCE was found, buffering houses from soil vapor risk by locating them sufficiently away from areas with elevated TCE, sealing utility corridors to prevent vapor migration, and installing protective vapor barriers under all homes.

    Q: How can you be sure that TCE impacts won't affect future residents?

    A site-specific human health risk assessment performed by Haley Aldrich, a licensed environmental engineering firm concluded that Stanford's proposed approach - - locating homes away from areas with elevated levels of TCE, placement of up to 15 feet of soil on top of impacted areas, and the voluntary installation of protective vapor barriers underneath houses - - is protective of future residential populations and the community.

    In addition, Stanford retained Dr. Paul Johnson, co-creator of the Johnson and Ettinger Model for Subsurface Vapor Intrusion into Buildings, a model widely used by governmental organizations for vapor intrusion risk assessment, to perform a peer review of the investigation and analysis performed by Haley Aldrich. Dr. Johnson concluded that this multiple mitigation approach presents no risk to human health and the environment and goes well beyond industry standard. Stanford has submitted this plan to DTSC and expects agency approval in the first half of 2016.

    Q: Will Stanford install protective vapor barriers underneath homes?

    Yes. Stanford has elected to install protective vapor barriers even through these barriers or other sub-slab ventilation systems are typically required when buildings are constructed directly over areas with elevated levels of TCE. University Terrace is not proposing to locate houses over areas with elevated levels of TCE in soil vapor and there will also be a substantial buffer zone between these areas and homes.

    Q: Is it safe to grow fruits and vegetables in a backyard garden?

    Yes. Soils with PCBs have been removed and disposed of off-site and excavated areas have been backfilled with clean fill material.

    Q: Can my children and/or pets safely use common areas?


    Yes. A human health risk assessment was conducted and the site is safe for your children and pets. Areas with elevated levels of TCE will be covered with up to 15 feet of clean fill which will serve as a robust vertical buffer.

    TCE is measured at very low concentrations throughout the Bay Area. The steps being taken will ensure that any TCE concentrations found at the site are consistent with background levels typically found throughout the Bay Area.

    Q: Why aren't you removing all the TCE impacts similar to the PCB impacts?

    The source areas for TCE have been removed. It is impractical to remove soil to address low levels of residual VOCs in soil vapor. Over time, TCE naturally attenuates and the best and most effective way to deal with the unlikely event of vapor intrusion is to configure the project to create a buffer zone, place up to 15 feet of clean fill in areas with elevated TCE, and install protective vapor barrier systems underneath homes.

    Q: Is it possible TCE impacts could spread to the residential properties in the future?

    No, TCE impacts were found in well-defined, isolated locations. The specific makeup of underground soils prevents TCE from spreading outside of these isolated locations towards future residential properties. Homes will be located away from areas with elevated levels of TCE and as an added level of assurance, Stanford has elected to seal utility corridors and install protective vapor barriers underneath all homes.

    Q: How can I get more information?

    To get more information please contact Annette Walton, Director, Environmental Management at (650) 724-4945 or nettie@stanford.edu.

    DTSC also maintains project information, including copies of all technical reports, through Envirostor which can be accessed at: DTSC also maintains project information through Envirostor which can be accessed at:http://www.envirostor.dtsc.ca.gov.

    To review the Supplemental Investigation and Risk Assessment Report – 1601 South California Avenue, Palo Alto, California, please contact Annette Walton, Director, Environmental Management at (650) 724-4945 or nettie@stanford.edu

Q: Where is the Information Center located?

The information center is located on the Stanford campus at:

Drell House,

556 O'Connor Lane

Stanford, CA 94305

The Drell House is across from the Munger Graduate Residences. O'Conner Lane is off Campus Drive between Salvatierra Walk and Mayfield Avenue.

Q: When will the Information Center be open?

The Information Center is now open Tuesday through Saturday from 10:00 am to 7:00 pm.

Q: Do I need to visit the Information Center?

Yes, in order to participate in the lottery, you must make an appointment with a Purchase Consultant to review the purchase process and details of the homes.

Q: Can we make an appointment to meet a Purchase Consultant?

Yes, individual appointments can be scheduled by calling the Information Center at 650.724.7262 or by email to info@theuniversityterrace.com

Q: What is available at the Information Center that is not available on the website?

The Information Center will have all the specifications for both the condominiums and single family homes. Samples of flooring, cabinets, tile, hardware, paint colors, plumbing and lighting fixtures will be on display. The Purchase Consultants will be available to answer questions and explain the purchase process. The home selection, purchase contracts, coordination of home closings and move-ins will take place at the Information Center.

  • Lottery
    Q: How do I register for the lottery?

    Registration for the lottery can be completed on the University Terrace website, by completing the Interest List application.

    Q: When can I register for the lottery?

    Registration for the lottery is now open and will continue until May 27, 2016.

    Q: Do I get a higher preference if I register early?

    No, There is no preference given to the timing of registration. The lottery will be conducted by a random number drawing.

    Q: How will I know that I am registered?

    You will receive and email confirmation with a Unique Identifier when you have completed the Interest List Application. After eligibility has been established, you will receive another email with information regarding the lottery. Any personal/private information that is submitted on the application will only be used by Faculty Staff Housing for the University Terrace lottery process.

    Q: What happens after the lottery?

    On June 6, 2016, the lottery ranking will be posted on the website and distributed to each participant. The order by which homes will be selected will be based on the order of the lottery results. Home selections for University Terrace will begin for all 180 homes on September 19, 2016.

  • Pre-Sales
    Q: What is a pre-sale?

    A pre-sale occurs when homes are offered for sale prior to their completion.

    Q: Will there be model homes?

    No, there will be no model homes to view. However, we have available a selection of virtual reality images from the actual architectural plans that provide a realistic depiction of how the homes will look from both the outside and the inside. These images and other renderings will be available on the website and at the Information Center.

  • Home Selection
    Q: When will home selections occur?

    Home selections for all 180 homes are currently scheduled to take place beginning on September 19, 2016. This process will take several weeks.

    Q: How will home selections be done?

    The homes will be selected in the order of the lottery results. A schedule will be posted at least one week prior to the appointment date and time. Each homebuyer will have an appointment at the Information Center with a Purchase Consultant to make a selection.

    It is highly recommended that each homebuyer rank at least five preferred home choices prior to the meeting in case one or more of their choices has already been selected.

    Q: What happens if I must cancel the Home Selection appointment with the Purchase Consultant?

    If a home selection appointment is cancelled, you will forfeit your position in the lottery. Appointments cannot be rescheduled.

    Q: If I can't attend the appointment in person, can I still select a home?

    Yes, if you can't attend the appointment in person, you can select a home via phone or by email in real time. You can also delegate your authority to someone who can make the selection for you. A delegation of authority form must be submitted prior to the home selection.

    Q: How will we know in advance which homes have already been selected?

    During the home selection process the University Terrace website www.theuniversityterrace.com will be updated in real time to reflect the current inventory. Buyer(s) are encouraged to review the available inventory daily to better determine and refine their choices prior to their home selection appointment.

    Q: Will a deposit be required when I select a home?

    Yes, a $1,000 reservation deposit (in the form of a personal check) will be required at the time the home is selected. This reservation deposit if fully refundable if you decide not to purchase the home.

    Q: Will there be selections for options or upgrades to the home?

    No, there will be no options or upgrade selections or modification to the plans for any of the homes. Any desired changes to the plans must occur after the close of escrow on the home.

    Q: Can I use a realtor?

    Yes, you can use a realtor. However, an agent is not required and the University will not pay a real estate commission.

    Q: Can I trade or change my selection?

    No, buyers will not have the opportunity to trade or change a home selection after the selection has been made.

    Q: Will I get to see my home before I close escrow?

    Yes, Buyers will be able to see their home when the home is completed, only when accompanied by a Purchase Consultant. The construction site will be closed to all visitors. Buyers will also tour the home during the Home Orientation/Walk Through prior to the close of escrow.

    Q: What if I don't like the home I have selected?

    If you don't like the home, you are under no obligation to complete the purchase. Any funds on deposit will be completely refunded to you.

  • Mortgage Financing Programs
    Q: How do I know how much I can afford?

    Faculty Staff Housing is available by appointment for faculty who meet the eligibility criteria to explain the University's purchase programs, collect financial information, and calculate how much of a house you can afford.

    Q: What mortgage financing programs are available for new faculty?

    There are several purchase programs available to faculty who meet specific eligibility criteria:

    1. The Housing Allowance Program (HAP) is a taxable fringe benefit that supplements income upon the purchase of a home.

       
    2.  The Mortgage Assistance Program (MAP) is an interest-only loan with a low current interest rate and principal and deferred interest due on the due date. 

       
    3.  The Deferred Interest Program (DIP) is a loan with no current payments, but the principal plus a share of appreciation is due on the due date.

       
    4.  The Reduced Interest Program (RIP) is an interest only loan with a low or zero interest rate, but the principal is due on the due date.

       
    5.  The Zero Interest Program (ZIP) is a zero interest loan and may have a forgivable feature.

    Q: Can I use more than one Stanford mortgage loan program?

    Yes, Programs may be used alone or in combination, but the loans must be used in a specific order.

    Q: Do I have to get my financing from the Stanford or can I use an outside lender?

    Yes, buyers can use an outside lender, but it is important to note that not all lenders can make loans on a leasehold property.

    Q: Should I get pre-approved for financing before I enter the lottery?

    No, a preapproval is not required, but it is important to schedule an appointment with Faculty Staff Housing to review the loan programs to determine how much you can afford and if you will qualify to purchase a home at University Terrace.

    Q: Where can I get more information about the University's housing assistance programs and the purchase process?

    Visit the Faculty Staff Housing website at fsh.stanford.edu, for information about the University's purchase programs and purchase process.

    Q: When do I receive final loan approval for the purchase?

    When a home is selected and the purchase contract signed, you should schedule a time to meet with Faculty Staff Housing to complete a loan application. You will receive a preliminary approval, but final loan approval will not be complete until thirty days prior to the projected close of escrow on your home.

    Q: Is insurance required on my home?

    Yes, all lessees are required to have homeowner's insurance. Those buyers who use Stanford's loan programs are required to obtain earthquake insurance. More information about the University's insurance requirements and earthquake insurance are available from FSH. All lessees must furnish evidence of insurance to FSH as requested.

  • Purchase Contracts
    Q: When will purchase contracts be signed?

    Contracts will be prepared and disclosures reviewed beginning in the Fall of 2016. This process will likely continue through the Winter of 2017. The documents will be signed in the order that the homes will be completed. The phasing will be available prior to home selection.

    Q: Will there be an additional deposit required when the contract is signed?

    Yes, the reservation deposit will be returned and you will be required to pay a deposit made payable to the title company handling the escrow.

    Q: Will I earn interest on my deposit?

    No, the deposits will not earn interest.

    Q: Are the deposits refundable should I elect not to purchase the home?

    Yes, all deposits are completely refundable at any time before the close of escrow if you choose not to purchase the home.

  • Home Walk-Through
    Q: When will the final new home orientation/walk-through occur? And, do I have to attend?

    The final home orientation/walk-through will be 5 – 10 days prior to your close of escrow. It is highly recommended you attend your new home orientation, if you cannot attend you may appoint a designated party to attend on your behalf. The Purchase Consultants will be contacting you directly to coordinate the date and time of the orientation. The home orientation serves the important purpose of not only viewing the final condition of your home, but also educating homebuyers about the key elements and components within the home, building (if applicable), and community. The home orientation must be completed before your home can close and you can receive your keys.

    Q: What if there are outstanding items to be completed when it is time to close escrow?

    Every effort will be made to complete the entire “buyer punch list” from your home inspections prior to the close of escrow. However, there may be minor items that can be completed after the close of escrow.

    Q: Since this is the first time I will be actually seeing and inspecting my home, what if I decide I don't like it? Can I cancel my purchase and purchase another home?

    If you decide you do not like your new home and do not choose to move forward with your home closing, the contract will be canceled and any funds held in escrow will be returned. If any homes are still available in the inventory, a new selection may be available. All requests will be handled on an individual basis.

  • Close of Escrow / Move-In
    Q: When can I move-in?

    You can move in when the home is complete and after receipt of the certificate of occupancy from the City of Palo Alto, and when the escrow has closed.

    Q: When will the close of escrow occur and how soon after can I move-in?

    The escrow can close when the home is completed and the certificate of occupancy has been received from the City of Palo Alto. When the escrow has closed you will be provided with the key packets and your homeowner's manual. Condominium home move-ins will need to be coordinated in advance with the Homeowner's Association and will accommodate your closing schedule. Further instructions will be provided as we move through the home buying process.

    Q: Do I need to schedule my move-in and are there certain move-in procedures to follow?

    Yes, condominium home move-ins will need to be coordinated with the Homeowner's Association. More detailed information will be provided as we move through the home buying process.

    Q: Do we have to use approved moving companies?

    No, but for condominium buyers, there will be a refundable deposit collected prior to move-in to cover the cost of any damage to the common areas that may occur during the move-in process. Your mover should be licensed and bonded and have sufficient insurance to cover any loss.

Q: Is there a home warranty and customer service program available?

Yes. Copies of the one-year limited home warranty will be available for review prior to any purchase. Under the limited warranty, together with a document specifying new home construction standards, you will be provided with reasonable service in fixing corrective work items or construction defects in your new residence, as specified in the provisions, terms, and limitations of these contract documents. The limited warranty also incorporates the State of California's statutory requirements and timeframes requiring Fit and Finish and Functionality Standards for new homes. The construction representative contractor of your residence will conduct a buyer orientation walk prior to delivery of a home to familiarize buyers with the operation and care of their new home and to develop a punchlist of items that may initially need repair by the construction team.

Q: What is the process or procedure should there be any issues or problems with my home?

Each homeowner will receive a Homeowners Handbook that includes the procedure to follow for reporting issues or problems with the home.

Q: Who are the utility service providers to University Terrace?

Electric, gas, water, and sewer are all provided by the City of Palo Alto Utilities. Garbage and recycling is provided by Greenwaste of Palo Alto. Internet/television/phone can be provided by either Stanford University IT or AT&T.

Q: How is garbage collected?

The single-family homeowners will need to arrange for their own garbage collection through the local waste management company, Greenwaste of Palo Alto. For the condominium homes, a central trash room is provided in each building. The collection of the garbage in the condominium buildings will be arranged and managed by the HOA management company.

Q: Is there a Homeowners Association?

Yes, there is a Homeowners Association (HOA) that will be managed by a professional management company.

  • Covenants, Conditions, and Restrictions (“CC&R's”) and Rules and Regulations
    Q: Are there community rules and regulations?

    Yes. In order to maintain the high quality and timeless appearance of the neighborhood now and into the future, pre-determined CC&Rs and Rules and Regulations will apply. Both the CC&Rs and Rules and Regulations will be available for review prior to any purchase decision. The CC&Rs and Rules and Regulations address such topics as how many pets you may have, permitted alterations to the home and landscaping, permitted window coverings, restrictions on paint colors, and noise restrictions.

    Q: Is University Terrace part of SCRL (Stanford Campus Residential Leaseholders)?

    No, lessees at University Terrace are not members of SCRL.

Schools

Q: What schools will my children attend?

All homes are located in the Palo Alto Unified School District (PAUSD). We have been informed by the PAUSD that neighborhood children will likely attend Nixon Elementary School, Terman Middle School, and Gunn High School, subject to PAUSD school assignment and overflow policies. For further information on the Palo Alto Unified School District, including school test scores, and school assignment and overflow policies, please call 650.724.7262 or visit www.pausd.org.

Public Transportation

Q: Is public transportation nearby?

Yes. The Marguerite Shuttle runs along California Avenue. The Marguerite connects to Caltrain at both the University and California Avenue stations. In addition, there is a Marguerite Shopping Shuttle serving the area during the school year.

Information Center:

Drell House, 556 O'Connor Lane

Phone: 650.724.7262

Purchase Consultants:

George Garcia: george@theuniversityterrace.com

Lauren Baxter: lauren@theuniversityterrace.com

Hours of Operation (as of June 6th, 2016):

Monday through Friday 10:00 am to 6:00 pm

Map
Parking

parking

Nearest parking lots:

  1. Tresidder Union Lot (L-39)

  2. Wilber Field Garage (Beneath Wilbur Field)

Bike parking/racks are also available.

Faculty Staff Housing:

Owen House, 552 O'Connor Lane

Phone: 650.725.6893