SANTA BARBARA, Calif. - 13 Westmont College faculty members and their families will become neighbors with Oak Park Drive residents in Santa Barbara.
The private Christian college hopes its second employee housing project will help it retain and recruit employees.
“Unfortunately, there are several instances over the years where we’ve had some folks who have not been able to come because of the housing prices," said Doug Jones, vice president of finance for Westmont College.
The median home price is more than $1 million.
“This is going to be a real nice opportunity to take that next step from Las Barrancas which is our 41 unit development near campus," said Jones.
The project located near Cottage Health will include 13 condominiums with 2 or 3-bedroom floor plan options. New and existing eligible employees will be able to purchase the homes. 11 of the units will be sold at market rate. The other two will be priced at the medium income level.
According to the city of Santa Barbara, a family of four makes an annual income of $73,900.
Those who buys the units must sell them back to Westmont College if they move.
Click here to learn more about the project.