What's New in Affordable Housing?

The Villas at Laurel Creek 953 Orcutt Avenue, San Luis Obispo, CA 93401 Office phone: 805-706-0248 office open daily from 10AM to 6PM will offer 176 Townhomes with 3 available floor plans ranging from 2-3 bedrooms. 

Applications are now available for the Laurel Creek project.  This is an excellent program that provides substantial down payment assistance to eligible households through the State of California's BEGIN program.  This is a unique program that was awarded to the project after a competitive process for limited available funds.  Eligible first-time homebuyers will benefit from $65-$90 thousand in down payment assistance, which is provided at 3% simple interest over a 30 year term.  Periodic payments are not required during the term of the loan to insure an affordable monthly payment for the borrower. There are a total of 10 two and three bedroom units available through the BEGIN program in the Laurel Creek project. Buyers must be moderate income, first-time homebuyers. Buyers must be able to finance up to $225,900 to purchase a two bedroom unit, or $271,900 to purchase a three bedroom unit. These homes are available on a first-come, first-served basis so apply today!

Wineman Hotel 849 Higuera Street, San Luis Obispo, CA 93401. Office phone 805-783-2708 office hours: Monday thru Thursday(12PM-5PM) Friday(8AM-5PM) and Saturday(10AM to 3PM)

Located at the corner of Higuera and Chorro. A total of 47 mixed income studio apartments available. 27 units are available for low income, for those earning a maximum annual income of $39,650. 3 units are for very low income/affordable, for those earning a maximum annual income of $24,800. 17 units are available at Market Rate for those with a maximum annual income of $59,450. Units range in size between 200 square feet to 244 square feet. Includes Kitchenette with microwave, hot-plate, sink, and refrigerator. Bathroom includes shower (some with shower/tubs) and closet space. Includes sewer, water, trash, and gas. Tenants pay electric. Cable and internet hookups available in every unit. Wineman hotel also offers Onsite Laundry and common area rooftop patio. Click here for more information.
 

House on 1775 Tonini Drive STILL AVAILABLE AS OF AUGUST 2010

1775 Tonini Drive, San Luis Obispo, CA 93405. This house is sold under the Long Term Affordability Program through the city of San Luis Obispo. It is a three bedroom unit in the Rancho Obispo subdivision. It is for sale for $309,225. This is a two story, attached single family-home, or twin home. The home includes approximately 1,300 square feet, 2 1/2 bathrooms and an attached two car garage. Click here for more information.

Condo/Townhome on 759 Lawrence Drive STILL AVAILABLE AS OF AUGUST 2010

759 Lawrence Drive, San Luis Obispo, CA 93401. 2 story, 3 bedroom Condo/Townhome located in the Villa Rosa Complex. 1492 square feet with single car garage with lots of parking in the rear of the unit. This is sold under the Long Term Affordability Program through the city of San Luis Obispo. Click here for more information.

564 Sandercock Studio STILL AVAILABLE AS OF AUGUST 2010 contact: Rosanna at 805-377-5990

Sold under the Long Term Affordability Program. offered for sale for $121,800. Approx 400 square feet. Unit has maple hardwood flooring, granite kitchen countertops, GE stainless steel, dishwasher, range, and oven. Comes with an oversized one car garage. New tiled floor and bathtub. Has landscaped patio/yard. Click here for more information.

How do I follow these leads?

In order to purchase an affordable unit under the Long Term Affordability Program, please make note of the steps listed below:

1. Check the City's Affordable Housing Standards to determine if you meet the income limitations for the unit's affordability level.

2. E-mail the City's Deputy Director with the Community Development Department, (kmurry@slocity.org) indicating your interest. If you have viewed the unit and are interested in purchasing, you will be asked to see a mortgage lender to pre-qualify for a loan to purchase the unit.

3. Potential buyers who have obtained a pre-qualification letter from a lender then need to contact the Housing Authority of San Luis Obispo (HASLO) in order to have their household income verified. Income verification costs $350 per application. Housing Authority of San Luis Obispo Tel: 805-543-4478 Street address: 487 Leff Street. San Luis Obispo, CA 93401

For more information on the City of San Luis Obispo's Affordable Housing, please contact Kim Murry, Deputy Director at the Community Development Department, 919 Palm Street, San Luis Obispo, CA 93401. kmurry@slocity.org or (805) 781-7170.