These are some of the issues behind California’s housing crisis
It’s no secret that many families and workers find it difficult to afford a home in the tight San Luis Obispo County housing market — but at least one local housing development is taking steps to change that.
The Trilogy at Monarch Dunes now has eight homes available for purchase for middle-income workers.
“Many home shoppers who will purchase through the Workforce Housing Program are the backbone of our community, and we are so excited to welcome them into ours,” Trilogy at Monarch Dunes vice president Preston Holdner said in a news release. “Our objective is to make it easier than ever for Central Coast residents to experience firsthand Trilogy’s resort-caliber lifestyle.”
According to its website, Trilogy at Monarch Dunes features “resort amenities” including two golf courses, restaurants, movement and fitness studios, day spas, pools, hiking trails and sports courts.
The new housing program is part of a countywide initiative to increase workforce housing in San Luis Obispo County, according to the news release.
The workforce homes are located in the community’s Monarch Ridge Townhome neighborhood, near its monarch butterfly sanctuary and vineyards.
Though the prices vary depending on floor plans, Holdner told The Tribune in an email that the current rate for one of the program’s three-bedroom homes is about $467,000 — not including homeowners association fees.
For comparison, the median list price for a three-bedroom home in Nipomo was $649,000 in December 2018, according to market research website Zillow. The county’s median list price was even higher, at $672,000 for a three-bedroom.
In the Trilogy at Monarch Dunes area, similar market rate homes are listed in the high $500,000 and low $600,000 range, Holdner said.
According to Holdner, the first houses in the workforce housing project were brought to the market about a year ago, and one home has since been purchased. That leaves eight more open: one is currently move in ready, two more will be available in early spring and five more will be ready by the summer, he said.
There are no age limitations on who can purchase the homes, Holdner said, though to qualify, a potential homeowner must meet the income restrictions. For example, a single person would have to make less than $93,200 to be eligible for workforce housing, while a family of four would have to make less than $133,120 per year to qualify.
For more information on if you qualify for housing, or to set up an appointment, call 888-672-0021 or visit www.sheahomes.com/campaign-pages/trilogy-monarch-dunes-workforce-housing.