BMR Ownership Listing: 1275 Indiana, 1260 Minnesota Streets (Millwheel North)

Posting date

 

10/16/2017

Program

Inclusionary Housing Below Market Rate (BMR) Program

 

Type of unit

Condo

Name of building

Millwheel North

Address

1275 Indiana and 1260 Minnesota Streets

San Francisco CA 94107

Unit Numbers

5 BMR Units Total

1275 Indiana Street, Unit 103

1275 Indiana Street, Unit 303

1273 Indiana Street, Unit 204

1260 Minnesota Street, Unit 204

1260 Minnesota Street, Unit 101

Number of bedrooms

(4) Two Bedrooms + (1) Three Bedroom

Units: 103, 204, 204, 303: Two Bedrooms

Unit 101: Three Bedroom

Number of bathrooms

Two bedrooms have 2 bathrooms

Three bedroom has 2.5 bathrooms

Square footage

1,094 - 1,642

Year built

2014

Neighborhood Name

Dogpatch

Supervisorial District

10

Sales Price

103: $359,938 without parking or $393,238 with parking

204, 204: $359,992 without parking or $393,238 with parking

303: $357,223 without parking or $390,469 with parking

101: $400,691 without parking or $433,938 with parking

Monthly Homeowner Association (HOA) Dues

103, 204, 204: $466.63 without parking or $476.03 with parking

303: $481.65 or $491.35

101: $525.80 or $535.50

What the HOA dues cover

Common area courtyard, Lobby’s, Water, Two Elevators, Trash, Hazard Insurance, maintenance of building common area and reserves

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

A copy of the Covenants, Conditions & Restrictions is available upon request. 

Parking

Parking ratio is

 

5 spaces are available to 5 buyers for the higher sales price noted above.

 

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

Refrigerator

Washer/Dryer

Stove/Range: Gas Oven Range

Microwave: Over the Range Microwave  

Dishwasher

Garbage Disposal

Classic Touch Waste Dispenser Air Switch

Amenities

Lobby, Deck, Parking

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

Feb, 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)

All BMR Application and qualification questions should be directed to one of the five housing counseling agencies listed here: http://homeownershipsf.org/workshops

General inquires can be directed to HomeownershipSF at info@homeownershipsf.org or (415) 202-5464.

 

For questions regarding the building, please contact: Wendy Novia, Sales Agent (BRE No.) at 415.717.9661.

Phone

415-202-5464

Email

live@millwheelsf.com

Website

http://millwheelsf.com

Realtor commission

No Realtor commission offered. The sales agent will act as a dual agent to both the buyers and seller.

 

All BMR Applicants must work with one of the five approved housing counselling agencies named above to submit an application for this BMR opportunity.

How to obtain an application

Your first step to participate in the lottery is to schedule and attend a first-time homebuyer workshop and one-on-one counselling session. Please click here to view upcoming workshops: http://homeownershipsf.org/workshops

 

The second step is to obtain a loan pre-approval from a MOHCD BMR Participating Lender named here - http://sfmohcd.org/mochd-authorized-lender-list

 

The third step is to schedule an Application Review Appointment at the counseling agency where you completed your Homebuyer Education to review your application and documentation with your counselor, and submit your application.

 

 

Applications can be downloaded from www.homeownershipsf.org, or from the MOHCD website by clicking here.

Address to which application should be mailed or delivered

Complete BMR lottery applications can only be submitted by attending an Application Review Appointment at the counseling agency where you completed your Homebuyer Education. Please contact your housing counseling agency as soon as possible to ensure your application is complete and submitted prior to the designated deadline. The five housing counseling agencies are listed below:

Asian Inc. - http://www.asianinc.org/

Main Office

1167 Mission St, San Francisco, CA 94103

(415) 928-5910

Balance (formerly CCCSSF) - www.balancepro.org

595 Market Street, Suite 920, San Francisco, CA 94105

(415) 788-0288 x483

 

MEDA -  http://medasf.org/

2301 Mission #310, San Francisco CA 94110

(415) 282-3334 x101

 

SFHDC - http://sfhdc.org

4439 Third Street, San Francisco, CA 94124

415-822-1022

 

SFLGBT - http://www.sfcenter.org

1800 Market St., San Francisco, CA 94102

415-865-5655

Should you have difficulty signing up for an Application Review Appointment, please contact HomeownershipSF at info@homeownershipsf.org or (415)202-5464.

Application Deadline

November 30, 2017, 5pm

 

Note: Applications must be received in paper form to a housing counseling agency listed above by 5pm on the day of the application deadline. Applications received after the deadline will not be accepted.

Open houses

Thursday, November 2, 5-6:30PM

Saturday, November 4, 10-12PM

Monday, November 6, 10-12PM

Location: 1277 Indiana Street

Information session(s)

 

November 2, 4pm

Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor, San Francisco, CA 94103

Lottery date, time and location

Date: December 15, 2017

Time: 2pm

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 by 5pm, December 22, 2017.

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 (1). 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 same Supervisorial District 10 – Malia Cohen -  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 (2) 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.

 

 

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)

 

These stunning homes are brand new in a beautiful community that is only a couple of years old!  Superb Dogpatch location filled with trendy coffee shops, cafes, galleries, parks and public transportation and easy freeway access.