30 new affordable apartments are coming to SLO. Do you qualify?
A new affordable housing complex is rising in a San Luis Obispo neighborhood — and if you meet the income guidelines, there’s still time to apply.
Walking down the cul-de-sac of Bridge Street, Meadow Creek Apartments’ ongoing construction doesn’t stand out much.
Nestled behind King Ventures at 279 Bridge St., the Housing Authority of San Luis Obispo’s newest development has been under construction since early 2024 — though not without delay, HASLO executive director Michelle Pedigo said.
HASLO purchased the land in 2020 and got the project approved in 2021. After waiting through the initial delays caused by torrential rains early in 2024, the project has progressed as planned, Pedigo said.
With a building cost of $26 million patchworked from a set of housing grants, donations and low-income housing tax credits, Pedigo said HASLO is ready to leave the construction phase behind and start welcoming residents.
Residents are expected to make 30-60% of San Luis Obispo County’s area median income of $125,600.
“One of the drawbacks of the tax credit program is that 60% of AMI is actually a decent chunk of money, and some people aren’t making that much, so they can’t actually afford those 60% rents, Pedigo said. “So we have to kind of go through quite a few names.”
Though the interest list opened in November, Pedigo said people can still put their names on the waitlist.
Applications still open for Meadow Creek Apartments
Pedigo said with just a couple months of construction left, Meadow Creek Apartments is taking on its first batch of residents.
In the project, 14 apartments will be one-bedroom units, eight two-bedroom units and eight three-bedroom units. All unit types will require a security deposit of $800, according to HASLO’s website.
One-bedroom units will range between 514 and 535 square feet, while two-bedroom units will fall between 703 and 844 square feet and three-bedroom units will be between 900 and 991 square feet, according to HASLO’s website.
Pets will be allowed, with one per unit, and will require a security deposit of $300.
Depending on the unit and amount of AMI made by the resident, rents can range greatly between a pair of one-bedroom units priced at $781 a month for households making a minimum of $1,953 and a trio of three-bedroom units priced at $2,168 for households making a minimum of $5,420, according to HASLO’s income limits.
Anyone making between 30% and 60% of the area median income can apply for one of the project’s units.
Households can range between one and seven people, with a maximum household income ranging between $56,880 and $101,940, respectively.
Of the 30 apartments, eight of the units will carry project-based vouchers, ensuring that those units will always be affordable no matter who lives there, Pedigo said.
In addition to the units themselves, the project will include a playground, laundry facilities, on-site management and an elevator, according to HASLO’s website.
Two more phases are planned for Bridge Street, but it’s unclear exactly what shape they will take as HASLO continues to assemble funding streams for future expansions, Pedigo said.
Applications for the project opened in late November and will remain open as a rolling window, Pedigo said.
Prospective applicants can apply for available apartments at HASLO’s website or by calling HASLO’s leasing team for assistance at 805-234-9640.
