San Luis Square
San Luis Obispo, CAlifornia
San Luis Square is a phased, mixed-use development containing 52 Residential Units in Downtown San Luis Obispo with up to 9,500 sq ft of ground-floor retail and onsite parking. It is located Block to Block Marsh to Higuera on Marsh and Nipomo Streets.
This project features a mix of unit sizes and prices from studios to 4th-floor two-bedroom penthouses and is within walking distance of many features of San Luis Obispo; which makes living affordable and reduces our carbon footprint.
G3 is responsible for the acquisition, design, and entitlement of San Luis Square. We are working with a local contractor, JW Design and Construction.
Affordable Apartments at San Luis Square
Three income-restricted homes on Higuera Street in downtown San Luis Obispo, available to qualifying low-income households.
Applications received outside this window will be placed on a waitlist for the next opening.
The Units
Three Below Market Rate (BMR) rental homes at 581 Higuera Street, San Luis Obispo, in a new mixed-use building one block from the heart of downtown.
*Maximum rent figures are the City of San Luis Obispo’s 2025 Low-Income BMR rent ceilings under Table 2 of the City’s BMR Housing Standards (effective July 1, 2025). The actual charged rent is the maximum less a utility allowance for utilities paid directly by the tenant, calculated with City Housing staff. Rents are reset annually under the recorded Affordable Housing Agreement.
Who Can Apply
These homes are restricted to households whose total annual income does not exceed the Low Income limits published in the City of San Luis Obispo’s Below Market Rate Housing Standards (2025 edition). Low Income corresponds to households earning up to 80% of the San Luis Obispo County area median income. Income includes wages, self-employment income, Social Security, retirement distributions, child support, and other sources defined in the City’s Rental Guidelines.
Maximum Annual Income (2025 Low-Income Limits)
| Household Size | Max Annual Income |
|---|---|
| 1 person | $77,950 |
| 2 persons | $89,050 |
| 3 persons | $100,200 |
| 4 persons | $111,300 |
| 5 persons | $120,250 |
| 6 persons | $129,150 |
| 7 persons | $138,050 |
| 8 persons | $146,950 |
Source: City of San Luis Obispo, 2025 BMR Housing Standards, Table 1 (effective July 1, 2025). For households larger than eight, add 8% of the four-person limit for each additional person.
Household Size for Each Unit
The City’s Standards assume the following household sizes when evaluating an applicant against an income limit for a given unit:
- 1-Bedroom (Units 206 & 209): use the 2-person income limit ($89,050).
- 2-Bedroom (Unit 205): use the 3-person income limit ($100,200).
Other Requirements
To be eligible, applicants must also:
- Reside in San Luis Obispo County (or relocate to it).
- Not own a home.
- Demonstrate sufficient income to pay the monthly rent without a co-signer (the City’s Rental Guidelines require this; for households using a Housing Choice Voucher, ability to pay is measured as the voucher subsidy plus the household’s share).
- Use the unit as their primary residence (no subleasing or short-term rental).
- Be a U.S. citizen or have the legal right to permanently reside in the United States.
How Tenants Are Selected
This is an open, public process. There is no private selection of individuals by the owner. Every applicant is evaluated against the same published criteria, in this order:
- Submit an application Complete and return the application during the open window. We log every application by date and time received.
- Income certification by a third party Each applicant household is referred to a City-recognized third-party certifier (the Housing Authority of San Luis Obispo or People’s Self-Help Housing Corporation) to verify income and asset eligibility under the City’s BMR Housing Standards. Only certified-eligible households advance.
- Minimum qualification check Each certified-eligible household is checked against published, pass/fail minimum tenant standards (ability to pay the rent, rental history, application accuracy) applied identically to everyone. We do not use credit-score cutoffs and we accept Housing Choice (Section 8) Vouchers on equal terms.
- Ranking by priority tiers Qualifying households are sorted by published, objective priority tiers (matching household size to unit, then live/work in the City of San Luis Obispo, then in the County, then all others). Units are filled from the top tier down.
- Tie-breaker drawing, if needed If a single tier has more qualified households than available units of that size, selection within that tier only is made by a transparent, witnessed random drawing. Drawing results are recorded in full.
- Offer and lease Units are offered in ranked order. If an applicant declines, the offer passes to the next-ranked household. Selected applicants are placed on a waitlist in their ranked order for the next vacancy of that size during initial lease-up.
The full written Tenant Selection Procedure is available on request.
How to Apply
Download the application below, complete it fully, and return it during the open window using one of the submission methods listed on the form. Applications must be complete to be processed; we will follow up if anything is missing.
Questions
For questions about the units, the application, or accommodations needed to apply, contact:
G3 Concepts
805.215.3892
info@g3realestate.com
Fair Housing. G3 Concepts and San Luis Square LLC are equal-opportunity housing providers. We do not discriminate on the basis of race, color, religion, national origin, ancestry, sex, gender, gender identity or expression, sexual orientation, marital or familial status, age, disability, medical condition, genetic information, source of income (including Housing Choice Vouchers), military or veteran status, or any other category protected by federal, California, or local fair-housing law. Reasonable accommodations are available on request for applicants with disabilities.
Program. These homes are deed-restricted Below Market Rate rentals subject to the City of San Luis Obispo’s Inclusionary Housing requirements (Municipal Code Chapter 17.138), the City’s BMR Housing Standards and Rental Guidelines, and the recorded Affordable Housing Agreement for the project.