CARLSBAD, Calif. — The city of Carlsbad is launching a program aimed at making homeownership a reality for more local families despite the brutal California housing market, and applications open soon for some condos in a popular neighborhood.
The condos are located in the Mulberry community of Bressi Ranch, the planned community that starts in the area where El Camino Real and Palomar Airport Road meet. A limited number will be the city’s first units offered through their Affordable Housing Resale Program, which buys homes and preserves their lower rates when offering them to families.
Two units were available as of November, with more to be released at a later date. Prices start under $200,000 for an 879-square foot, two-bedroom, one-bath unit, the city said in a news release.
Applicants should be ready soon: The city is accepting submissions online from Nov. 19 to Jan. 17.
This chart shows the income brackets that are eligible for the program:
“Applications will be reviewed in the order they are received,” the city said. Staff provided the following list of eligibility requirements:
- The program is limited to buyers who do not exceed the gross maximum yearly income shown on chart below.
- Potential buyers must currently live in San Diego County.
- Potential buyers must not have purchased a unit under any other first-time homebuyer or affordable for-sale housing program administered by city in past seven years.
- Additional eligibility requirements apply.
The city says the homes were originally built by a private developer and were sold to lower-income buyers through an existing affordable housing program. When those residents decided to sell, Carlsbad decided to buy them and preserve their affordability.