The 9 At Righetti by Ambient Communities

information and announcements

  • Price Reduction: From $474,775 to $460,000!

  • $20,000 BEGIN Down Payment Assistance through City of SLO on FIRST FOUR HOMES ONLY. To be eligible for the Loan, the applicants must be first-time home buyers*

  • 3% Builder Incentive Toward Closing Costs or Interest Rate Buy Down for the BMR Homes

Buyers must be able to qualify for the City Program, the 2025 Annual Income Requirements. This is a deed restricted below market rate home for moderate income households. Purchase Contract subject to final approval by the City of SLO and HouseKeys

*Without the BEGIN loan, you don’t need to be a first-time home buyer; however, there are asset limits described in Section 3 of the Guidelines.

Single-level Living COndo style Units

You can use any approved lender/loan officer for San Luis Obispo, but the builder’s preferred loan officer is:

Donna Lewis at Rate - Branch Manager/SVP of Mortgage Lending - NMLS: 245945

Apply at www.rate.com/teamslo

If you wish to use another approved lender, please refer to the list below.

Program Documents & Disclosures

Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust

This program requires you to sign a Restriction Agreement with a 45-year term.

Understanding the intricacies of the program documents is crucial when considering participation in a housing program. Deed restrictions, agreements, promissory notes, and deeds of trust are all legal instruments that can significantly impact the rights and obligations of property owners. For instance, deed restrictions can limit how a property is used, who you can sell it to, refinancing, and upgrading the home, and it requires the owner to occupy the home. It also sets conditions for its future sale, which includes a cap on the resale value and/or an equity share, depending on the program. Similarly, a promissory note is a binding promise to repay a loan and/or excess sales proceeds (the difference between the home's fair market value and the maximum restricted resale price), and a deed of trust secures the promissory note by placing a lien on the property. Click below to access & review the documents to ensure this program is for you. You can hire an attorney to help you understand the Program Documents you’ll sign and promise to abide by.

OPPORTUNITY DRAWING #611

Plan A - 5 Units - 2 Bed / 2 Bath

  • Restricted Sales Price:

Plan B - 4 Units - 2 Bed / 2 Bath

  • Restricted Sales Price: $460,000

Approx. 940 - 1,184 Sq Ft

All Units Property Designated AMI: Up to Moderate

Occupancy Standard: No min or Max, however, owners must occupy the property

Resale Restriction Terms: 45 Years (Review the documents )

Solar Lease Estimated: $85/month

HOA: $429.72/month

HO6 insurance Estimated: $80.00/month

Property Tax estimated: $494.56/month

Please refer to the ODN (Right) for additional information

Important Deadlines

  • Submit the interest form AND initial items by 9/9/2025 @ 5 PM PST

Estimated Cost Breakdown with the price update coming soon!

City Preferences

Applicants must select the City Preferences by the Drawing Entry deadline and submit proof they meet them by the File Submission Deadline. The Final Ranking number is subject to change after preferences are verified. Applicants cannot adjust their City Preference Tiers/Points after the Drawing Entry Deadline. Preference Tiers/Point adjustments or corrections by the applicant after the Drawing Entry Deadline will not be considered. The Preference will be invalidated if supporting documents are not submitted on time or if insufficient proof is submitted.

HouseKeys

HouseKeys is an Affordable Housing Program Administrator who works alongside cities and builders to provide affordable housing opportunities to income-eligible households.