Posting date

**As of 01/04/2022, there are 5 applications pending for review for the remaining 2-bedroom BMR Unit. **

Important Instructions: Compile the application form and all required documents into one PDF file in the order listed on the application, and name the PDF file “MIRASF - Last Name, First Name” (Example: MIRASF – Smith, John). Use the divider pages and place the corresponding documentation behind each divider page. Applications received in multiple files, an incorrect order, formats other than PDF or without supporting documents will not be accepted or reviewed.

Original DAHLIA Posting Date: 09/03/2019

First Come First Served Posting Date: 4/23/2021

Note: The applicant list generated from this first come, first served listing may be applied to any remaining BMR units in this project, should one or more new units become available in the future. Once all the BMR units are sold, the first-come, first-served applicant list will no longer be valid for this project.

Program

Limited Equity Home Ownership Program

Type of unit

Condo

Name of building

MIRA

Address (including city/state/zip code)

Tower: 280 Spear Street, San Francisco, CA 94105

Podium: 285 Main Street, San Francisco, CA 94105

Units Available

(Updated on 10/15/2021)

See unit matrix below for unit details:

Number of bedrooms

One (1) Two-bedroom unit

Number of bathrooms

One (1)

Square footage

826 sq.ft.

Year built

2020

Neighborhood Name

Financial District/South Beach

Supervisorial District

District 6

Sales Price (for each BMR unit)

$385,168 without parking

Monthly Homeowner Association (HOA) Dues (for each BMR unit)

$692.79 without parking

What the HOA dues cover

Garbage, Water, Gas (In select homes), Building maintenance, Reserves, Common area Electric, Staffed Lobbies 24/7, Private Dining Room with Outdoor Deck & BBQ Area, Jay Wright Fitness Center, Conference Rooms, Children’s Playroom, Landscaped Courtyard, Rooftop Lounge Area, Dog Washing Station, Valet Parking, Electric Car Charging Stations, Bicycle Storage & Maintenance Area, Curated Retail Spaces on Street Level

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

To review the Covenants, Conditions & Restrictions for this building, please click here.  

Smoking Policy

Please refer to page 90 of the Covenants, Conditions and Restrictions (CC&Rs) document listed below.

Pet Policy

Please refer to page 76-77 of the Covenants, Conditions and Restrictions (CC&Rs) document listed below.

Parking

There are no parking spaces availabe at this time.  A parking watilist is being established by the MIRA sales team for BMR buyers interested in a parking space.  The waitlist is based on the first-come-first-served application rank order.  Parking fee per parking space is $235.10 on a per month lease.

Area Median Income for Qualifying for Unit

Only 100% of Area Median Income (AMI) units remaining at this time.

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 2020

(Households must be at least as many people as bedrooms in the unit. Please view the AMI Chart for larger households.)

Appliances

Frigidaire Refrigerator, Electrolux Washer/Dryer, Frigidaire Stove/Range, Frigidaire Microwave, Frigidaire Dishwasher, and Garbage Disposal.

Amenities

Well-appointed lobby, Jay Wright fitness center, private dining and lounge, beautiful roof deck and inspired children’s room. 

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

Unit are available for occupancy upon the close of escrow.

Other qualification notes

All potential buyers must review the Limited Equity Loan Disclosure Book and

2018 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 https://www.homeownershipsf.org/events/ 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 First Mortgage Pre-Approval and Verification of Homebuyer Education for every adult household member on loan and title to the BMR unit must be included with the BMR First Come First Served Application.

Applicants with financial needs are encouraged to apply for down payment assistance.

• BMR Downpayment Assistance Loan Program (BMR DALP): A deferred down payment assistance loan available to qualified households for up to 15% of the purchase price.

• Teacher Next Door Program (TND): A loan assistance program for active educators serving the SFUSD.
• Mortgage Credit Certificate (MCC): A certificate that allows first-time homebuyers to claim a tax credit for up to 15% of the annual mortgage interests paid. There is an application fee if applying for MCC.

• Federal Home Loan Bank’s WISH program provides up to $22,000 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 Limited Equity Loan Disclosure Book and

City and County of San Francisco Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2018.

Contact person (realtor/sales agent)

For questions about the building and units, contact MIRA Sales Office:

415-839-8383

ownership@mirasf.com

For questions about applications and program requirements, contact HomeownershipSF:

415-202-5464

info@homeownershipsf.org

Company Name and Address (including city/state/zip code)

MIRA Sales Office

163 Main Street, San Francisco, CA 94105

Office Hours (including any special message)

MIRA Sales Office: Hours vary, please call for assistance.

Phone

HomeownershipSF: (415) 202-5464

MIRA Sales Office: (415) 839-8383

Email

Questions about the building and units: ownership@mirasf.com

Questions about applications and program requirements:

info@homeownershipsf.org

Website

http://www.homeownershipsf.org/

www.mirasf.com

Photos

To view the interior photos of the BMR units, please click on this link.

How to obtain an application

Please contact HomeownershipSF or click here to download the application.

Applications – First Come, First Served

Lottery List has been exhausted. The first come, first served application period began on 05/03/2021 at 8:00 AM PST and remains open as first come, first served.

How to submit Application for First Come First Serve

Submit a complete electronic application with all required documents as a single PDF file via a ShareFile secure link, MIRASF. 

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “MIRASF– Last Name, First Name” (Example: MIRASF – Smith, John). Use the divider pages and place the corresponding documentation behind each divider page. Applications received in multiple files, an incorrect order, formats other than PDF or without supporting documents will not be accepted or reviewed.  

Changes to the application process due to COVID‐19. We are not accepting paper applications for now. If you need assistance to submit an application electronically, please contact a housing counselor.  For a list of housing counselors, click here.

Lottery date, time and location

** This lottery list has been exhausted.  The first come, first served application period began on 05/03/2021 at 8:00 AM PT and remains open as first come, first served. **

To view the lottery results, click here.

To view the DAHLIA listing, click here.

Realtor commission

Buyer’s realtors are NOT eligible for commission on these BMR units.  

Important Program Rules

All potential buyers must review the Limited Equity Loan Disclosure Book and 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that govern this property. Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

Resale Price Restrictions

When you sell a BMR unit, it will be resold at a restricted price that is affordable to the next qualified household. The household you sell to must meet the first‐time homebuyer, income and other qualifications for the program. Please review the Limited Equity Loan Disclosure Book and 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.