BMR Ownership Listing -1075 Market Street (Stage 1075)

Posting date

 

December 29, 2017  **Update, April 12, 2018***

Program

Inclusionary Housing Below Market Rate (BMR) Program

 

Type of unit

Condo

Name of building

Stage 1075

Address

1075 Market Street, San Francisco, CA 94103

Unit Numbers

11 BMR units total

303, 403, 411, 503 - Studio

202, 206, 209, 307, 407 – one-bedroom

213, 313 – two-bedroom

Number of bedrooms

Studio, one and two bedroom units

Number of bathrooms

One and two baths

Square footage

202 – 608 square feet

206 – 630 square feet

209 – 716 square feet

213 – 863 square feet

303 – 498 square feet

307 – 515 square feet

313 – 855 square feet

403 – 445 square feet

407 – 515 square feet

411 – 423 square feet

503 – 445 square feet

Year built

2017

Neighborhood Name

Mid-Market

Supervisorial District

District 6 – Jane Kim

Sales Price

202 - $279,503 without parking, $322,011 with parking

206 - $279,503 without parking, $322,011 with parking

209 - $279,503 without parking, $322,011 with parking

213 - $313,793 without parking, $356,301 with parking

303 - $240,499 without parking, $289,321 with parking

307 - $291,745 without parking, $334,253 with parking

313 - $313,793 without parking, $356,301 with parking

403 - $246,814 without parking, $289,321 with parking

407 - $291,745 without parking, $334,253 with parking

411 - $246,814 without parking, $289,321 with parking

503 - $246,819 without parking, $289,321 with parking

Monthly Homeowner Association (HOA) Dues

202 - $690.05 without parking ; $842.05 with parking

206 - $690.05 without parking; $842.05 with parking

209 - $690.05 without parking; $842.05 with parking

213 - $784.61 without parking; $936.61 with parking

303 - $585.24 without parking; $737.24 with parking

307 - $622.19 without parking; $774.19 with parking

313 - $784.61 without parking; $936.61 with parking

403 - $585.24 without parking; $737.24 with parking

407 - $622.19 without parking; $774.19 with parking

411 - $585.24 without parking; $737.24 with parking

503 - $585.24 without parking; $737.24 with parking

What the HOA dues cover

Trash, water, virtual doorman, concierge 40 hours a week, building maintenance, package storage.

Covenants, Conditions & Restrictions (“CC&R’s”) for the building

To review the Covenants, Conditions & Restrictions for this building, please contact the sales agent.

Parking

Parking ratio is 2 parking spaces available to 11 buyers by lottery rank.

 

Parking spaces will be resold with the unit within the maximum resale price.

Area Median Income for Pricing Unit

90% of Area Median Income (AMI)

 

Area Median Income  for Qualifying for Unit

100% of Area Median Income (AMI)

Maximum Allowable Income Levels

Maximum household income must not exceed the following amounts by household size:

 

100% of Maximum Income by Household Size derived from the Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2017

Household Size

Maximum Income at 100% of AMI

1

$80,700

2

$92,250

3

$103,750

4

$115,300

5

$124,500

6

$133,750

7

$142,950

 

Appliances

Stainless steel GE gas range/oven; Frigidaire dishwasher

 

Amenities

Roof deck, package storage, courtyard, 24-hour virtual doorman

Date on which BMR unit(s) can be occupied by owner

April 2018

Other qualification notes

All potential buyers must review the 2013 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that governs this property.  Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

 

Applicants must secure a loan preapproval and a final loan through a MOHCD Participating Lender who have an “X” marked under BMR.

 

All titleholders must complete a first-time homebuyer workshop through one of the City’s 5 approved first-time homebuyer counseling agencies in order to apply. Please visit http://homeownershipsf.org/workshops for a schedule of upcoming classes. 

 

Verification of Homebuyer Education Completion from a MOHCD approved first-time homebuyer workshop is required.  Verification of Homebuyer Education Completion is valid for 1 year from the date of issuance.

A copy of the mortgage loan pre-approval and homebuyer counseling form for every adult household member on loan and title to the BMR unit must be included with the BMR application.

 

Applicants are encouraged to apply for downpayment assistance through a MOHCD approved lender and may be eligible for the following programs.

 

 

 

  • Federal Home Loan Bank’s WISH program provides up to $15K in matching funds for down payment assistance.  Please ask your mortgage lender for more information.

 

All MOHCD Participating Lenders should explore these options with BMR buyers.

Households must be as many people (or more) as number of bedrooms in the unit to apply.

See other qualification rules in the City and County of San Francisco Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2013.

Contact person (realtor/sales agent)

Eddy Skees

CalBRE 01296257

Phone

415.561.0600

Email

info@stage1075.com

Website

www.Stage1075.com/bmr

Realtor commission

Buyers’ realtors eligible for 2.5% commission and must “register” his or her realtor in order for the realtor to obtain cooperating broker commission.

How to obtain an application

Contact realtor or download from the MOHCD website by clicking here.

 

If you need application assistance or information about available housing resources, please refer to the organizations listed in the SF Housing Resource Guide by clicking here.

Address to which application should be mailed or delivered

**Office hours: Saturday - Wednesday, 12pm - 5pm

 

Please deliver by hand applications to: 1075 Market Street, San Francisco, CA 94103

 

Please mail applications to: Level Four Advisors, C/O  BMR, 1001 Bridgeway #409, Sausalito, CA 95965   

Application Deadline

February 12, 2018 by 5pm

 

Applications must be received in paper form (no faxes or emails) by 5pm on the date of the deadline. Postmarks will not be accepted. Applications received after the application deadline will not be accepted.

Open houses

Wednesday, January 10 from 3-5pm

Wednesday, January 24 from 4-6pm

Saturday, January 27 from 3-5pm

 

Special note: Since this is an active construction site please wear long sleeve shirts and closed toe shoes.

Information session(s)

 

Date: Thursday, January 18, 2018

Time: 4:30pm

Location: Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

San Francisco, CA 94103

Lottery date, time and location

Lottery Results, click here  PDF iconStage 1075 Lottery Results.pdf

Date: March 6, 2018

Time: 3:30pm

Location: Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

San Francisco, CA 94103

 

Applicants do not need to be present at the lottery. Lottery results will be posted here within one week of the lottery.

Lottery preferences

All individuals and households may enter the lottery for a BMR unit.

 

However, those households in which one member holds a Certificate of Preference (COP) from the former San Francisco Redevelopment Agency will be given highest preference in the lottery ranking process. More information about the COP Program can be found here: http://sfmohcd.org/certificate-preference.

 

Households in which one member holds a Displaced Tenant Housing Preference (DTHP) Certificate from the Mayor’s Office of Housing and Community Development will be given second highest preference in the lottery ranking process, for up to 20% of the units in projects (2). DTHP certificate holders will also be included in the live/work preference regardless of their current live/work location. More information about the DTHP Program can be found here: http://sfmohcd.org/displaced-tenant-housing-preference-program-0.

 

Households that submit acceptable documentation that at least one member lives in the District  6 (Jane Kim) or within a half-mile of the project will be given the third highest preference in the lottery ranking process under the Neighborhood Resident Housing Preference (NRHP). The NRHP applies to up to 40% of the units in projects (4). The NRHP status of all applicants will be listed on this posting one week prior to the lottery. More information about the NRHP Program can be found here: http://sfmohcd.org/neighborhood-resident-housing-preference.

NRHP Preference List, click here PDF iconNRHP Preference List.pdf 

 

Households that submit acceptable documentation that at least one member lives or works in San Francisco will be given the fourth highest preference in the lottery ranking process.

 

If the number of units available exceeds the number of qualified applicants in the above listed preference, the units will become available to other qualified applicants outside of San Francisco. Applicants in each preference category must meet program requirements in order to complete the sale or rental.

 

For more information about the lottery process and housing preferences, please refer to the MOHCD Housing Preferences and Lottery Procedures Manual.

Special note(s)

 

Stage 1075 is walk-centric in a desirable part of Mid-Market. You’re at the center of everything San Francisco has to offer. Great amenities, well-designed and thoughtful finishes.