The Housing Authority of San Luis Obispo (HASLO) is currently working to help make homeownership a reality for Low and Moderate income buyers in San Luis Obispo. Its new development, Moylan Terrace, features a mix of housing options, with a percentage of homes being built for low and moderate income buyers who meet the City of San Luis Obispo’s Affordable Housing guidelines.
“Many years ago, former HASLO director George Moylan had a dream,” said HASLO Director, Scott Smith. “He envisioned a cooperative development (or “co-op” as they are called in the east) which lead to the purchase of a site off Broad Street, between Humbert and Lawrence avenues. Unfortunately financing to construct a co-op development was in short supply at that time, the project stalled, and Mr.
Moylan passed away before he would see his dream realized.”
Fast forward to 2014, with one phase under its belt, HASLO hopes to bring Mr. Moylan’s dream of homeownership to more of the city’s workforce.
Phase 1 of the Moylan Terrace project quickly sold out in August 2013. Out of 12 total units, two homes were sold at the affordable price of $162,900 to buyers who met the City’s low income threshold, one home sold for $319,900 to a buyer who met the City’s Moderate income threshold, and the remainder of the units sold at market rate starting at $349,900.
Twenty‐four homes will be built in Phases 2 and 3 which are currently scheduled to be completed in
Spring of 2014. Seven of the units will be sold to buyers who meet the City of San Luis Obispo’s Low and
Moderate income requirements. A total of 80 homes are planned for Moylan Terrace, which will be
constructed over several more phases. Sales are being handled by Steve Delmartini & Abbie Woodward
of San Luis Obispo Realty and loan prequalification and eligibility for the City’s Affordable Housing
Program is being conducted by Donna Lewis of Central Coast Mortgage Consultants.
For more information about the Moylan Terrace Project, please contact Steve Delmartini or Abbie
Woodward at 805‐440‐8010 or go to the website at www.moylan-terrace.com. For information about
loan prequalification or eligibility for the City’s Affordable Housing program, please contact Donna Lewis